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Project

Mindanao Forests for People and Sustainable Livelihoods (MinFor)

Project No. / ID

3773

Project web link

https://registry.verra.org/verra/public/program/VCS/projects/3773

Project description

A grouped project focused primarily on forest protection and conservation.

The project is developed for 50 years commitment with IPs community members in Mindanao. The project protects natural forests and supports sustainable livelihoods and biodiversity conservation. The project is developed under VCS-CCB with Gold label criteria

Project location / boundary

Philippines, multiple municipalities in Mindanao, with the first project instance in Davao Oriental. The 11 participating CADTs cover 311,911.21 ha of overall land, within which 140,143.95 ha of forest cover forms the Project Area for Instance 1.

Project type

Grouped Project.

Project activity type

Avoided Unplanned Deforestation (AUD) under AFOLU Sectoral Scope 14.

Project start date

08 September 2022. The start date corresponds to commencement of implementation of project activities and changes in forestry practices to preserve and conserve the forest from deforestation.

Crediting period / project lifetime

50 years, from 08 September 2022 to 07 September 2072.

Project management commitment

Throughout the project life span

Commercial activity

The project is primarily a forest conservation / REDD+ project.

Project finance

The project invested through equity (80% secured finance in management of the project before expected project breakeven of 4 years through sales of carbon credits)

Project revenue

Only by sale of the carbon credit and the carbon credit are shared with the community.

Revenue / benefit sharing

The agreed benefit-sharing arrangement provides 60% of carbon revenues to the 11 IP organizations and 40% to Kennemer for project management, technical services and support leading to certified carbon units.

SDG goals

The project explicitly addresses SDG 8 – Decent Work and Economic Growth, SDG 13 – Climate Action, and SDG 15 – Life on Land and SDG 17 – Partnerships for the Goals.

Total GHG emission reductions/removals

The project estimated net reductions/removals for the grouped project over the crediting period i.e 2,236,203.18 tCO₂e .