TREES 2.0, a newly launched tool for measuring forest carbon credits, aims to enhance transparency and accuracy in incorporating small-scale carbon projects into landscape-level programs. This updated version of the tool focuses on improved carbon storage measurement, offering a solution to the ongoing debate surrounding REDD+ (reduced emission from deforestation and forest degradation) initiatives.
With the support of initiatives like the LEAF Coalition, which has secured over US$1 billion for forest conservation, large-scale forest finance is gaining momentum. The key question has been whether the solution lies at the jurisdictional or project level. TREES 2.0 aims to bridge this gap by combining the strengths of both the public and private sectors through a "nesting" approach. This aligns project-level accounting and strategies with jurisdiction-level programs, providing a comprehensive solution.
TREES utilizes a baseline methodology that considers a five-year historical deforestation average for forest areas of at least 2.5 million hectares (6.2 million acres). The baseline progressively tightens over time to maintain high ambitions for deforestation reduction and ensure the credibility of credited emissions reductions. By operating at a jurisdictional scale and following transparent carbon accounting guidelines, TREES addresses the credibility risks associated with REDD+ carbon credits, such as additionality, leakage, and the permanence problem.
Several jurisdictions, including Vietnam, Guyana, Ghana, Costa Rica, and three Brazilian states, have initiated the process of applying for crediting under the TREES jurisdictional standard. More than 50 others are evaluating their potential participation, driven by the LEAF Coalition's ability to aggregate supply and demand and provide a reliable incentive for forest conservation efforts.
