On March 10th, Green Gold Forestry completed the field visit as part of the process of auditing for the Green Gold Loreto 1 (GGL1) carbon project verification through the VCS program. AThe project design document was validated under the Climate, Community and Biodiversity (CCB) standards, which guarantees that the project provides tangible benefits for the climate, the surrounding communities and the biodiversity of more than 180,000 hectares of our forest concession. The audit is conducted by SCS Global, a company authorized by VERRA to validate/verify emission reduction processes.
The audit team visited GGF’s facilities, communities and partner institutions to have a better understanding of GGF’s work, including monitoring, control and surveillance, satellite tracking, training of native communities, etc. The validation of the GGL1 project design under the CCB standards is currently in the public consultation phase, which can be found at: https://registry.verra.org/app/projectDetail/CCB/2345
GGL1, by applying the Improved Forest Management Methodology (IFM): Conversion of logged forest to protected forest (VM0010), GGF identified an annual retention/removal of more than 350,000 tonnes of carbon, representing one of the largest carbon initiatives in the region. Verified carbon units will be traded through the voluntary market from the second semester of 2023.
SCS Global audit team and the GGF technical team at Campamento Bahia, Loreto.
