Wildlife Works Launches CODE REDD Campaign to Save the World's Threatened Forests

SAN FRANCISCO and DURBAN, South Africa, Nov. 29, 2011 /PRNewswire via COMTEX/ -- Wildlife Works announced today the launch of CODE REDD, an emergency action campaign to save the world's wild forests using private sector financing within the Voluntary Carbon Market.

As corporations recognize their responsibility to do all they can to reduce their carbon footprint by lowering emissions and offsetting the rest, the CODE REDD campaign aims to make it easy and compelling for corporations to pledge to buy REDD (Reduced Emissions from Deforestation and Degradation) carbon offsets.

The Campaign will also ensure that those offsets are generated by specific high quality forest protection projects that have proven they can protect threatened forests while at the same time providing unprecedented sustainable development opportunities to local forest communities.

These Voluntary Market financial pledges will create demand and stimulate investment in new REDD projects while turning an emissions reduction liability into positive action. The companies making these pledges will be celebrated in the marketplace for their essential role in protecting the world's forests.

"The goal of the CODE REDD Campaign is to dramatically increase the demand for REDD project carbon offsets now. With increased demand, REDD can scale to overcome the massive threat to the world's forests and make a significant contribution to mitigating climate change," said Mike Korchinsky, Founder and CEO of Wildlife Works and the creator of the CODE REDD Campaign.

Wild forests are disappearing at the alarming rate of 13 million hectares per year (FAO 2010) and deforestation accounts for an estimated 17% of total annual global greenhouse gas emissions (UNIPCC 2007). The effects of deforestation are having devastating impacts on people and wildlife throughout the world and are threatening the resources humans need for survival. Climate change experts widely agree that climate stability cannot be achieved without the conservation of the world's remaining forests.

While the UN continues to work on the critical challenge of creating a broad climate change solution, the marketplace has been waiting for direction. Meanwhile forests are burning and forest communities need help now.

"Reducing your carbon footprint is not a UN obligation. It's a global responsibility. It is time for the private sector to show innovation and leadership and do something REDD," said Korchinsky.

Private sector organizations of all types looking to reduce their carbon footprint are invited to join the campaign as a CODE REDD member by making a specific pledge to buy REDD credits. Credible project developers are invited to join by pledging some or all of their VCS and CCB validated and verified carbon offsets to the Campaign. Anyone else is encouraged to become CODE REDD supporters by making a public statement of support for the campaign.

About the CODE REDD Campaign:

The CODE REDD campaign was initially funded and launched by Wildlife Works, but it is an open initiative bringing together corporate carbon offset buyers, REDD project developers, indigenous forest owners, forest nation governments, NGOs, verification organizations, standards bodies, market platforms and other concerned entities to tackle this critical challenge.

REDD, a forest conservation program originated by the United Nations (UN) to help stop the destruction of the worlds forests, is an effective solution that is already working in pioneering projects around the world.

REDD projects within the CODE REDD Campaign are required to be validated and verified under both the Verified Carbon Standard (VCS) and the Climate Community and Biodiversity Standard (CCB) to ensure the project's integrity.

About Wildlife Works:

Wildlife Works is the world's leading REDD project development and management company with a unique approach to applying innovative market based solutions to the conservation of biodiversity.

The company established a successful model that uses the emerging marketplace for REDD carbon offsets as a sustainable and scalable funding mechanism for biodiverse forest protection and to help local landowners in the developing world monetize their forest and biodiversity assets whether they are indigenous peoples, governments, communities, ownership groups or private individuals.

Wildlife Works' flagship "Kasigau Corridor REDD project" was the first REDD project to achieve validation, verification, and issuance of REDD carbon credits under both the Verified Carbon Standard, (VCS), and the Climate, Community, and Biodiversity Standard (CCB).