Carbon Green Investments Announces Withdrawal of Kariba REDD+ Project and Chirisa REDD Project From the VCS GHG Program
HARARE, Zimbabwe, May 30, 2024 (Newswire.com) - Carbon Green Investments (CGI), a leading firm in the environmental sustainability sector, has formally announced the withdrawal of the Kariba REDD+ Project and Chirisa REDD+ Project from the VCS GHG program registry. This strategic decision, effective immediately, comes after extensive deliberations and a detailed review of the Projects' engagement over the past seven months.
The decision to transfer these projects to an alternate GHG program was driven by a series of challenges that hindered their effective management and operations. Significant issues included prolonged communication delays and inadequate engagement with the relevant bodies, which have impacted the projects' implementation and CGI's business operations.
CGI has cited several specific issues which led to the decision to transfer the projects:
Engagement and Cooperation: CGI has faced considerable challenges, resulting in extended periods of uncertainty that have affected the projects' beneficiaries, staff, and business operations.
Communication Delays: Persistent delays in addressing inquiries and providing necessary access to information have significantly hindered CGI’s business and project management capabilities.
Account Access and Transparency: Without access to necessary data, coupled with unexplained modifications, have raised serious concerns about transparency and operational integrity.
Project Impact: These administrative challenges have caused further reputational damage and financial losses for all beneficiaries, further compelling CGI to act and place the best interests of the communities and stakeholders first.
Both projects are now in the process of finalizing their registration applications with the Greenhouse Gas (GHG) program and are scheduled for imminent revalidation and verification. CGI is committed to adhering to the highest standards of transparency and accountability, ensuring the integrity of the projects and the credibility of the issued credits.
CGI, along with the appointed Validation & Verification Body, will continue to engage with VERRA as necessary throughout the revalidation process. CGI expects full cooperation from VERRA to facilitate a smooth transition and efficient handling of the credit transfer process, safeguarding the interests of all beneficiaries.
CGI, withdrawing from VERRA after 12 years of collaboration, remains optimistic about its future under the new program. We are committed to fulfilling our environmental goals and ensuring the continued success and integrity of our projects.
For further information, please contact Carbon Green Investments at:
About Carbon Green Investments (CGI)
Carbon Green Investments (CGI) is a leader in the development and management of environmental sustainability projects, focusing on innovative solutions for carbon reduction and ecological conservation. Established with a mission to combat climate change through effective carbon management, CGI specializes in Reducing Emissions from Deforestation and Forest Degradation (REDD+) projects and other sustainable initiatives that contribute to global environmental integrity. CGI is committed to transparency, accountability, and excellence in all aspects of its operations, partnering with various stakeholders to ensure the success and credibility of its projects. Through its strategic approaches and dedicated team, CGI strives to create significant environmental impact and sustainable value for communities and ecosystems around the world, ensuring all areas of the landscape receive their fair share.
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Source: Carbon Green Investments