#India #Microsoft #Climate Impact Partners #Terra Natural Capital #Madhya Pradesh

Microsoft Partners with Climate Impact Partners in India for Carbon Removal

Climate Impact Partners recently announced an exciting new collaboration with Microsoft and Terra Natural Capital to initiate a transformative carbon removal project in India. This venture involves the Panna afforestation project located in Madhya Pradesh, a substantial undertaking designed to eliminate three million tonnes of carbon while simultaneously benefiting local communities.

The project spans an impressive 20,000 hectares, a space larger than Washington D.C. and comprises the planting of up to 11.6 million mixed native trees across farmer and community-owned lands. As a major milestone, Microsoft has committed to purchasing 1.5 million tonnes of carbon removal credits over a 30-year period, which represents a significant portion of the project's anticipated output.

Economic and Environmental Benefits

Through this collaboration, several noteworthy advantages emerge:

1. Economic Empowerment: Farmers participating in the project will receive a portion of the income derived from carbon credit sales and revenue from the sale of various products like fruits and medicinal plants generated by the trees.

2. Sustainable Agriculture Initiatives: The project emphasizes the importance of implementing training programs focused on climate-smart agricultural practices aimed at enhancing long-term productivity for local farmers.

3. Water Conservation Efforts: Significant advancements in water conservation infrastructure are underway, including the construction of ponds, borewells, and drip irrigation systems to support tree growth while efficiently capturing and conserving water resources.

4. Biodiversity Enhancement: The initiative prioritizes the planting of native tree species, fostering biodiversity and assisting to revive butterfly and bird populations in previously degraded areas.

Sheri Hickok, CEO of Climate Impact Partners, expressed pride in the partnership, commending Microsoft's progressive approach to climate responsibility. Hickok stated, "By securing a long-term supply of high-quality carbon credits, this model empowers companies like Microsoft to meet their ambitious climate goals and contribute positively to communities affected by climate issues."

Brian Marrs, Senior Director of Energy Markets at Microsoft, echoed this sentiment, noting that nature-based solutions play a critical role in tackling climate change. The Panna project represents a vital part of Microsoft's expanding portfolio in carbon removal, marking their first significant investment of this kind in India and their largest in the APAC region.

Terra Natural Capital, a key player in project financing, also shared their enthusiasm regarding this collaboration. Erica Vertefeuille, Managing Director, commented on the significance of collaboration between project developers, corporate partners, and innovative financing initiatives to enhance climate impact. The long-term capital provision is envisaged to accelerate project development and support corporate climate objectives.

Verification and Standards

To ensure the project's integrity and influence, rigorous methodologies are employed. The project adheres to Verra's latest Afforestation, Reforestation, and Revegetation Methodology (VM0047) and has received approval under the Integrity Council for the Voluntary Carbon Market's Core Carbon Principles. Furthermore, its sustainability impacts will be verified against the Climate, Community, and Biodiversity Standard, ensuring both accountability and co-benefits for the involved stakeholders.

Conclusion

The Panna afforestation project stands as a compelling model for large-scale carbon removal ventures, demonstrating how collaborative efforts involving corporates, financial innovators, and local communities can weave together climate action and economic upliftment. As companies like Microsoft continue to engage with such initiatives, there is an admirable path ahead for significant environmental restoration efforts paired with community development.