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BUENOS AIRES, Argentina, and WASHINGTON — Dec. 16, 2024 | Verra, the world’s leading standards setter for climate action and sustainable development, has formally joined the Argentine Carbon Roundtable. The roundtable comprises more than 45 companies, institutions, and individuals from Argentina’s carbon markets. It aims to develop effective strategies for promoting and strengthening carbon markets in Argentina and the region by offering a space to collaborate on and discuss policies, initiatives, and projects that promote Argentina’s position as a global leader in carbon markets. Verra’s participation underscores its commitment to supporting regional carbon markets and strengthening their transparency and integrity.

“We are pleased to join the Argentine Carbon Roundtable, where we will share our experience managing the Verified Carbon Standard (VCS) Program for the issuance of Verified Carbon Units (VCUs) associated with greenhouse gas reduction and/or removal projects based on requirements focused on guaranteeing their quality. Additionally, we wish to contribute to the development and linkage of entities in the country with both voluntary and compliance carbon markets at the national and international level, which has been part of our work for several years, participating in such associations in several countries around the world.”

Angelo Sartori, Senior Director, Government and Policy Engagement, Verra

The main objective of the roundtable is to strengthen the country’s carbon market through various actions, such as promoting regulatory frameworks and public policy instruments; creating and strengthening capacities; certifying measurement, reporting, and verification mechanisms (MRV); and communicating and disseminating relevant information.

"Due to the high international demand for carbon credits and the great diversity of ecosystems and natural resources in Argentina, the country has a great opportunity to generate quality carbon credits. The roundtable is working on developing instruments that generate better conditions for this to occur. Adding Verra's professionalism, track record, collaboration, knowledge, and global experience to the roundtable is, without a doubt, a significant step forward in our regional positioning and in fulfilling our objectives to strengthen carbon markets and thus collaborate to take urgent climate action.”

Juan Pedro Cano, General Coordinator of the Argentine Carbon Roundtable

The Argentine Carbon Roundtable has drafted a bill to provide legal certainty and international transparency for carbon markets in Argentina. The roundtable is working with the national government to ensure that the country participates in agreements for international transfers of emission reductions within the framework of Article 6 of the Paris Agreement. They are also actively participating in various subnational initiatives to promote carbon markets in Argentina’s different regions.

CARBON MARKETS IN THE WORLD AND THE REGION

Latin America is a region with great potential for the development and commercialization of carbon projects and credits, mainly from nature-based solutions (NBS), including in the Agriculture, Forestry, and Other Land Use (AFOLU) sector.

The Argentine Carbon Roundtable, together with ASOCARBONO of Colombia, the Aliança Brasil NBS, the Ecuadorian Carbon Association, the Carbon Platform of Ecuador, and the recent Carbono Chile AG, has created the Latin American Network of Carbon Market Associations with the primary objective of exchanging experiences and lessons learned from different countries, as well as supporting actions and common positions to promote better conditions for carbon markets in the region.

Globally, more than 12,000 certified emission capture and reduction projects registered under international standards exist. Although only 6% of such projects are NBS projects, in 2021 and 2022, this sector traded 46% of all voluntary market transaction volume. Driven by NBS projects, the value of the markets almost quadrupled in 2021 and 2022.

In the last five years, Latin America issued 22% of carbon credits worldwide from a total of 457 projects, making it the second largest provider of certified emission reductions in the region. However, looking only at NBS projects, 50% of the credits were generated in this region.

NBS carbon projects promote the conservation, sustainable use, and restoration of native forests; the development of forest plantations; and the improved management of existing forestry and agricultural production. Thus, they generate positive impacts on ecosystems and the environment and on local communities and landowners through facilitating additional income.

Learn more about Verra.
Find more information about Mesa Argentina de Carbono.

Contact:

Erdem Koch, Director, Media and Advocacy
media@verra.org

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