The Alto Mayo forest — home to 1,500 settlers — spans 180,000 hectares in Peru’s northeast department of San Martin and contains 23 species of endangered flora and fauna.
USD 8 per credit
The Alto Mayo project, started in 2008 and involves 419 farmers and their families. The project is lead by Conservation International, which got it validated under the Verified Carbon Standard (VCS) as well as the Climate, Community and Biodiversity Standard (CCB) as a REDD+ project.
In total, Disney paid USD 3.5 million for 437,500 voluntary credits at a price of USD 8 per credit, far more than their value on the international markets. Each credit is equivalent to one ton of captured CO2.
Disney is using the credits as offsets to carbon emissions from its global entertainment operations.
3 million tons CO2
Disney chose to target the Alto Mayo forest because of the area’s rich biodiversity coupled with its vulnerability to encroachment by settlers.
The project will increase the number of rangers protecting the forest, and to fund conservation agreements with local coffee growers and other farmers that provide them with advice and technical assistance on condition that they not clear the forest. Already 240 agreements have been signed.
While VCS verified the carbon impacts, CCB also measures the project’s effects on communities as well as on the local plant and animal life. The standard confirmed the local life had improved with the REDD+ project.
This means 420 species of birds and 50 species of mammals, including the yellow-tailed woolly monkey found only in the Peruvian Andes, benefited.
So far, the project has generated 3 million tons of emissions reductions, the equivalent of taking 500,000 cars off the roads for one year.
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