The Untapped Potential of Great Green Wall Voluntary Carbon Market Projects 2024

verifiable carbon sequestration alongside socio- economic improvements. Engaging communities from the beginning creates ownership and promotes behavioural change through collaborative decision- making around implementation. The socio-economic benefits generated by these projects can further incentivize communities to sustain project practices independently, without relying on ongoing external funding. Meanwhile, the adaptation measures introduced can help mitigate the impacts of extreme weather events caused by the climate crisis, lessening their severity and impact on communities and further reducing the risk of communities reverting to unsustainable practices.In addition, progress on standards – such as the guidelines of the Integrity Council for the Voluntary Carbon Market (ICVCM) and the claims code of the Voluntary Carbon Markets Integrity Initiative (VCMI) – enables companies to manage reputational risk and provides buyers with greater confidence in high-integrity credits. High-quality VCM credits that adhere to these standards ensure credibility and command higher market prices under ICVCM’s Core Carbon Principles (CCP) label.38 Projects following these standards can deliver quality carbon removals and drive lasting socio-economic and biodiversity impacts. 2.2 Land conversion risk Carbon projects may lead to unwanted land-use changes, such as converting agricultural land or natural habitats into forest plantations. This can create conflicts over land priorities, potentially harming food security and disrupting traditional land practices. Risk mitigation: In the Sahel, reforestation and restoration efforts in VCM target areas aim to restore lost agricultural productivity and biodiversity, while maintaining land-use classifications in locations impacted by desertification and degradation. By focusing on such lands, these projects can improve ecosystem services without affecting local agriculture. Carbon finance boosts community livelihoods in Uganda BOX 2 In Uganda, 1.7 million households rely on coffee for income. In 2023, OCP Foundation and the African Plant Nutrition Institute (APNI) initiated the Uganda Coffee, Green Carbon and Diversification Project (UCCP), with the aim of supporting the Ankole Coffee Producers Cooperative Union with revenues from green carbon finance. OCP Foundation is the philanthropic arm of Morocco-based OCP Group, the world’s largest fertilizer manufacturer and a major phosphorous mining company. The UCCP initiative aims to help 3,000 farmers plant 900,000 trees, while training those farmers in improving coffee yield and quality, as well as training 20 local youth in supply chain management, product sourcing and sales. The project will unlock carbon finance to enhance coffee system management, effectively rewarding farmers for the valuable environmental services they provide. By the end of the project timeline, the OCP Foundation expects to see outcomes delivered by both restoration and carbon sequestration.UCCP project goal Improve livelihoods and climate resilience of smallholder coffee systems in Uganda. UCCP project components 1. Activating carbon finance for improved management of coffee systems. 2. Enabling farmers to improve coffee systems productivity and quality through diversification. 3. Inspiring youth and farmers to link diversification outcomes with markets. 4. Assessing the impact of improved agronomy on soil carbon and coffee performance. 5. Although not in a GGW country, the project illustrates how carbon projects in Africa can be developed to harness the power of carbon finance in supporting community priorities, livelihoods and productivity. Engaging communities from the beginning creates ownership and promotes behavioural change through collaborative decision- making around implementation. Source: African Plant Nutrition Institute.39 The Untapped Potential of Great Green Wall Voluntary Carbon Market Projects 14