With funding from UNDP Regional Office, ECOTRUST has embarked on a process to develop a carbon bank; a facility that will support local communities’ access to ecosystem markets. The facility will be established based on lessons learned from the implementation of the Plan Vivo certified Trees for Global Benefit project, now in its tenth year. The carbon bank will act as a mechanism through which initiatives similar to TGB are supported to achieve scale and become viable. This facility will also build on ECOTRUST existing infrastructure, particularly its institutional structure as a Trust with strong fiduciary responsibility as well as its links to establishing local financing centres, where farmers can access their money from carbon payments.
This facility has great potential to significantly improve livelihoods, through supporting climate change adaptation by enabling diversification of livelihoods as well as building the resilience of the productive systems to continue supporting agricultural productivity.
This article is adapted from one initially published by ECOTRUST in their November newsletter.