New IFM method to boost forest restoration
A second improved forest management (IFM) project methodology has been approved for use with the Voluntary Carbon Standard, an important step in applying carbon market finance to the restoration of degraded native tropical forests.
The methodology was produced by project developer Face the Future to measure the carbon emissions reductions generated by its rehabilitation project in the severley damaged Infapro rainforest in Malaysia’s Sabah province on Borneo.
This is the third forest carbon methodology approved for use in the VCS under its AFOLU program, and the second in IFM. The first IFM methodology, however, applies to harvest practices in forest being logged. Rival standard, the American Carbon Registry, announced its first approved IFM methodology in September.
The advent of methodologies for conservation IFM means a whole new project activity can now be financed by the carbon markets, said Denis Slieker, managing director of Face the Future. “Carbon revenues will have a significant impact on the feasibility of rainforest rehabilitation projects and create an incentive for preventing re-logging,” Slieker said.
Much of the forestry attention in carbon markets up to now has been taken by afforestation and reforestation activity, and more lately avoided deforestation or REDD, for which there is a clamour of enthusiasm but few validated projects so far.
Like all new methodologies for use with the VCS, Face the Future had to achieve double approval from two independent validators, in this case SCS and Bureau Veritas. Now this has been achieved, other project developers will be able to apply the approach to similar project activity, or use it as springboard to develop their own.