Carbon Green Investments Announces Withdrawal of Kariba REDD+ and Chirisa REDD+ Projects from VCS GHG Program

HARARE, ZIMBABWE / ACCESSWIRE / May 30, 2024 / Carbon Green Investments (CGI) has announced its decision to withdraw the Kariba REDD+ Project and Chirisa REDD+ Project from the VCS GHG Program. This strategic move follows extensive deliberations and a detailed review of the projects over the past seven months.

The decision was driven by challenges that impaired effective management and operations. Key issues included prolonged communication delays and inadequate engagement with relevant bodies, impacting implementation and CGI's business operations.

CGI cited specific challenges such as considerable engagement and cooperation issues, persistent communication delays, and access and transparency concerns. These factors caused reputational damage and financial losses, compelling CGI to prioritize community and stakeholder interests.

The projects are now in the process of registering with a new Greenhouse Gas program and are scheduled for revalidation and verification. CGI remains committed to transparency and accountability, ensuring project integrity and credibility.

CGI will continue engaging with VERRA throughout the revalidation process, ensuring a smooth transition and protection of beneficiary interests. Despite parting ways with VERRA after 12 years, CGI is optimistic about its future under the new program.