We are pleased to present the second quarterly “Data & Insights” brief for Colombia which covers updated cumulative data on VCS activity in the country through September 2020, including on project status, project types, as well as VCU issuances and retirements (for both voluntary and compliance purposes).
As the rest of the world, Colombia still finds itself in the midst of an unprecedented pandemic which has impacted all economic sectors. While the voluntary carbon markets have not been immune to these circumstances, the development of new VCS projects in Colombia as well as VCU issuances and retirements seem to continue reflecting the upward trends we saw before the onset of the pandemic.
Between Q2 and to Q3 of 2020, VCU issuances and retirements increased significantly, at least in part due to projects completing validation and verification during Q2.
More than half of VCS projects in Colombia are in the AFOLU sector (56% or 33 projects compared to 17 projects at the end of Q2). This comes as no surprise since the country’s AFOLU sector holds great potential for generating carbon credits and these activities also generate a number of co-benefits for local communities and biodiversity.
The year 2018 saw the highest number of VCU issuances so far, more than 9 million tons have been issued and retired in Colombia, an increase of 16% compared to 2019.
Most of the AFOLU projects in Colombia (23 projects or 67%) are REDD+ projects which continue to contribute the vast majority of VCU issuances of all AFOLU projects (holding steady at 97%).
|Afforestation, Restoration, Reforestation||10|
*One VCU represents one tonne of carbon dioxide equivalent that was removed from the atmosphere or not emitted.
Greenhouse gas equivalencies for emission reductions and removals were calculated using the EPA Greenhouse Gas Equivalencies Calculator
|Project Type||VCUs||Percentage of Total|
ALM – Agricultural Land Management
ARR – Afforestation, Reforestation and Revegation
IFM – Improved Forest Management
REDD – Reducing Emissions from Deforestation and Forest Degradation
WRC – Wetland Restoration and Conservation