Terraformation, the forest restoration firm established by ex-Reddit CEO Yishan Wong, has sold its first Verified Carbon Units (VCUs) through a collaboration with Grosvenor’s UK property division. This milestone comes from Terraformation’s Seed to Carbon Forest Accelerator, focusing on reforesting mangroves in Ghana's Keta Lagoon. The project is projected to sequester 15,000 tonnes of carbon by 2030 at under $50 per tonne. The initiative aims to sequester over 1 million tonnes of carbon by 2064.
Aerial view of Ghana’s mangroves. AI generated picture.
The Regenerative Development of Anlo Wetlands (ReDAW) project, led by ReDAW Ltd and ReDAW Foundation, plans to rejuvenate 1,536 hectares of mangroves. This effort will create jobs for 350 locals, with over half being women, and foster sustainable practices like aquaculture and apiculture. The restored mangroves are expected to enhance flood resilience, boost food security, and improve overall community wellbeing.
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The ReDAW project underscores Terraformation and Grosvenor’s dedication to nature-based solutions for climate and biodiversity goals. Registered with Verra, the project might expand to cover an additional 8,445 hectares. Grosvenor, known for its validated long-term science-based targets, emphasises reducing carbon emissions and sourcing quality carbon credits.
Terraformation’s Seed to Carbon Forest Accelerator supports global forestry teams in developing high-quality reforestation projects. Offering funding, training, and capacity-building, the Accelerator has backed 14 projects and plans to support 12 more by 2024, restoring nearly 25,000 hectares of biodiverse forests.
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Grosvenor is a leading corporate investor in beyond-value-chain mitigation projects, emphasising community benefits and transparency. Their partnership with Terraformation highlights their commitment to impactful climate solutions and early-stage project funding.
Mangroves are vital to Ghana’s coastal communities, offering sustainable livelihoods and combatting deforestation. The ReDAW project supports Ghana’s goal to restore 2 million hectares of degraded land by 2030, promoting biodiversity and carbon sequestration.
DGB Group’s global nature-based carbon projects are crafted with a holistic approach to ensure long-term sustainability. Our initiatives integrate economic, environmental, and social benefits, aiming to generate lasting positive impacts on rural communities. Our vision for sustainable development focuses on continuous community enhancement, empowering local populations with the necessary knowledge, resources, and support to flourish. As these communities strengthen, they play a crucial role in fostering a healthier planet and building a more resilient future.
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