Kariba and Chirisa REDD+ Projects in limbo
Carbon Green Investments (CGI) has announced the withdrawal of its Kariba REDD+ and Chirisa REDD+ projects from the Verified Carbon Standard (VFS) Green House Gases (GHG) Programme, seeking to benefit from a more advantageous registry partnership. The projects aim to combat deforestation and forest degradation, contributing to global climate change mitigation efforts.
CGI’s decision to withdraw these projects from the VCS GHG Programme underscores the challenges faced by companies in the environmental sustainability sector in maintaining the integrity and credibility of their projects. Prolonged communication delays and lack of engagement from Verified Emissions Reductions and Removals Alliance (VERRA) has adversely impacted project delivery and CGI’s operations, resulting in reputational damage and financial losses for all parties involved.
In a statement, CGI highlighted significant issues with VERRA, including extended periods of uncertainty due to delayed responses and inadequate engagement, affecting project beneficiaries, staff, and business operations. Persistent communication delays and difficulties in accessing necessary accounts has severely hindered CGI’s project management capabilities. Moreover, denial of access to the treasury/registry account and unexplained modifications within the account have raised serious concerns about transparency and operational integrity.
“These administrative challenges have led to further reputational damage and financial losses for all beneficiaries, compelling CGI to seek a more supportive and responsive registry partnership,” the statement said.
Despite the challenges with the VCS programme, CGI remains optimistic about the future of the Kariba and Chirisa REDD+ projects. The projects are currently finalizing their registration applications with a new Greenhouse Gas (GHG) programme and are scheduled for revalidation and verification. CGI is confident that this new partnership will better support the successful implementation and credibility of their conservation efforts.
