Carbon Streaming Corporation is pleased to provide an update on its investment pipeline as the Company continues to build a diversified portfolio of high-quality carbon streaming investments around the globe.
Indonesia Update
The Indonesian government has temporarily paused validation of carbon credits from projects on the Verra Registry as it seeks to finalize its national carbon policy. The Company maintains a carbon stream investment in the Rimba Raya Biodiversity Reserve Project which may be impacted by this temporary pause. Rimba Raya was among the first Verra registered REDD+ projects and has forged a long history of success, having over 31.8 million verified carbon credits issued by Verra since 2013.
Jim Procanik, Managing Director of InfiniteEARTH Limited added his thoughts, "As we understand it, the Indonesian government is poised to release its national carbon policy framework, and as such, the Ministry of Environment & Forestry has asked industry participants to pause further project validations. Given that the term "validation" indicates the first audit of a new project, we have no reason to believe this applies to InfiniteEARTH's Rimba Raya project since it has over 12 years of history with multiple verifications behind it.”
Mr. Procanik continued, “While Rimba Raya had its sixth verification audit scheduled, in consideration of the potentially imminent regulations, we will synchronize the timing of that audit to conform to the signing of the new regulations. Regulations in the carbon sector are rapidly developing, for example, at the end of 2021, PT Rimba Raya received a renewed concession license under the new rules. We continue to cooperate and communicate with the MOEF to ensure that our activities are in compliance with the dynamic regulatory landscape, and we remain in good standing. We are very pleased with the regulatory progress and welcome the clarity it will bring the carbon sector in Indonesia."
“We welcome the Indonesian government’s leadership in establishing a parallel national carbon registry and expect to see more of this from host countries as governments seek to set and achieve their own Nationally Determined Contribution. We remain patient and respectful of the MOEF’s process and are encouraged by Rimba Raya’s recently renewed license.”
Carbon Streaming Founder and CEO Justin Cochrane
Mr. Cochrane further affirmed, “We also applaud Verra for implementing several new initiatives and tools to streamline its credit issuance process to ensure timely verification of carbon credits and to reduce the backlog that currently exists for new and existing projects. Carbon Streaming continues to expect delivery of Rimba Raya carbon credits in calendar year 2022.”
Listing Update
The Company continues to advance towards a potential listing of its common shares and listed warrants on The Nasdaq Stock Market LLC. Listing of the Company's common shares and listed warrants on Nasdaq remains subject to the approval of Nasdaq and the satisfaction of all applicable listing and regulatory requirements. Following receipt of all required approvals, the Company will issue a news release announcing its first trading date on Nasdaq.
About InfiniteEARTH
InfiniteEARTH is a Hong Kong-based project development company that develops and manages conservation land banks and provides environmental offsets and corporate social responsibility solutions to companies across the globe. The company was formed in 2008 with the goal of creating the Rimba Raya Project, a 64,500-hectare peat forest in Central Kalimantan, Indonesia. Rimba Raya is one of the world’s largest REDD+ projects. The project eradicates deforestation, promotes conservation of local wildlife and sells carbon credits based on the carbon rich forest which was previously gazetted for conversion to palm oil.
InfiniteEARTH’s projects focus on the preservation of endangered species habitat, High Conservation Value and High Carbon Stock Forests, and National Parks through the creation of social and physical buffer zones. All projects are designed to meet the UN Sustainable Development Goals by funding sustainable development in rural communities through capacity building, transfer of low-impact technologies such as solar and fuel-efficient cookstoves, aquaponics, agro-forestry models, and social benefits programs such as health care and early childhood education materials.
About Carbon Streaming
Carbon Streaming is a unique ESG principled company offering investors exposure to carbon credits, a key instrument used by both governments and corporations to achieve their carbon neutral and net-zero climate goals. Our business model is focused on acquiring, managing and growing a high-quality and diversified portfolio of investments in projects and/or companies that generate or are actively involved, directly or indirectly, with voluntary and/or compliance carbon credits.
The Company invests capital through carbon credit streaming arrangements with project developers and owners to accelerate the creation of carbon offset projects by bringing capital to projects that might not otherwise be developed. Many of these projects will have significant social and economic co-benefits in addition to their carbon reduction or removal potential.