Environmental Services Benefits Program of the Province of Misiones - ECO2

The Government of the Province of Misiones (GPM) has made environmental and biodiversity conservation a State policy, which requires sustainable financing over time that does not conflict with two other GPM State policies: the debt reduction policy and the public accounts balance policy.

Environmental Services Benefits Program of the Province of Misiones - ECO2

Misiones REDD+ Program

GENERAL INFORMATION

A carbon credit represents the reduction or removal of one ton of CO2 equivalent. By canceling a carbon credit, the buyer of that credit offsets the emission of one ton of CO2 equivalent.

Governments and companies that wish to offset their greenhouse gas emissions can purchase such carbon credits from projects and programs certified by international standards that certify the quality, permanence, and additionality of the project and program, and that allow traceability of carbon credits through an independent registry. The Province of Misiones will use the JNR Framework administered by VERRA.

When a carbon credit is sold, ownership of the land or forest that originates that carbon credit is not transferred. Only a certificate issued by the certification standard is sold, demonstrating a one-ton carbon reduction with reference to a baseline.

VERRA Registry

You can consult the information and access the JNR Program registration in the VERRA registry at the following link

VERRA Registry

Initial Training Cycle

Session 1: REDD+, Provincial REDD+ Strategy and the ECO2 Program

PDF document illustrating the training and multi-stakeholder dialogue cycle of the jurisdictional REDD+ program of the Province of Misiones

Session 2: Carbon Markets and the Jurisdictional REDD+ ECO Program

PDF Document - Definitions about carbon markets and the jurisdictional REDD+ program of the Province of Misiones

Session 3: Safeguards, benefit distribution mechanism and participatory process for the REDD+ ECO2 Program

Safeguards: concepts and definitions about the benefit distribution mechanism and its participatory process for the REDD+ ECO2 Program of the Province of Misiones

Video of the Training and Multi-stakeholder Dialogue Cycle of the Jurisdictional REDD+ Program of the Province of Misiones

Video: Visual training on the training cycle

MISIONES REDD+ PROGRAM

What does a jurisdictional REDD+ program consist of?

A jurisdictional program is a government-led program that includes a set of policies and measures aimed at reducing greenhouse gas emissions from deforestation and forest degradation and certifying such reductions under a voluntary carbon standard.

To learn how many tons of gases are emitted in Argentina per year, you can consult the Documents section.

What are the reductions measured against?

When a jurisdiction wants to demonstrate that its program is successful, meaning it achieves a reduction in greenhouse gas emissions, it must quantify annual emissions and compare them against a reference level.

This reference level is based on the jurisdiction's historical deforestation. To learn what the reference baseline is that the program uses for Misiones, you can consult the Documents section.

Why does the Province of Misiones seek to implement a Jurisdictional REDD+ program?

The Province of Misiones, by deciding to certify emission reductions and sell the resulting carbon credits, is seeking to finance the provincial REDD+ strategy with the objective of reducing deforestation and degradation of native forests.

Precisely to avoid the commodification of the jungle that other jurisdictions have done by deforesting their forests to allow the advance of agriculture and livestock, the Province of Misiones has found a legally valid financing mechanism that rewards conservation and sustainable use of the forest, and that does not generate new debt for the Provincial Government.

What activities can a landowner carry out to reduce emissions?

Private landowners can participate in the jurisdictional program by carrying out activities that reduce deforestation and degradation of native forests on their properties.

What benefits do the Province of Misiones and its inhabitants receive for participating in the program?

The Province will design and implement a plan to distribute the income from the jurisdictional program. Inhabitants receive monetary and/or non-monetary incentives so that the owner does not carry out activities that deforest or degrade. The income distribution plan is in the design process.

Where do the funds to finance JNR program activities come from?

When the Province demonstrates that as a result of program activities emissions are reduced, the Province receives carbon credits (Verified Carbon Units or VCUs) which it can sell to organizations interested in buying carbon credits willing to pay a price for said carbon credits.

Who administers the funds derived from the sale of carbon credits?

The Province of Misiones has signed a trust agreement with Banco Macro whereby funds derived from the sale of carbon credits are distributed according to a benefit distribution plan.

Frequently Asked Questions

If I have land and want to develop my own carbon credit project, can I do it without participating in the Misiones REDD+ program?

Yes. The only obligation for anyone who verifies and issues credits from an independent project is to register the project and report emission reductions in the provincial registry that will be created to keep carbon credit accounting and avoid double counting of emission reductions.

If I have land, develop a project that is certified by international standards and issue carbon credits, am I obligated to sell them to the Province or to whomever the Province indicates?

No. Each owner who certifies emission reductions independently from the Program and issues carbon credits can dispose of them in the manner they consider most convenient to their interests.

What profitability will I have if I have land and develop my carbon credit project?

Profitability will vary depending on each project and characteristics of the native forest on the property. Not all parcels will certify the same amount of carbon credits as it will depend on variables such as stored carbon, deforestation or degradation rates in the area, etc. At this link you can see all the different VERRA methodologies (Methodologies – Verra).

Each owner who certifies their carbon credits will choose who to sell their carbon credits to and at what price. Each owner is responsible for analyzing the cost-benefit of developing a carbon project.

It is important to note that the project will have to meet the eligibility criteria of the chosen standard. If they do not meet said criteria, the owner will not be able to develop a carbon project on their parcel.

How can I file a claim or complaint regarding the JNR program?

You must complete the corresponding form in the "Dispute Resolution" section.

How long does the Misiones REDD+ program last?

The program has a maximum duration of 30 years from the start of the Program, which is 2016. The Cooperation and Carbon Credit Purchase Agreement with Mercuria only commercializes carbon credits from the 2016-2030 period.

Will the Government of the Province of Misiones regulate the use of private property under the Program?

No, the Program does not limit the individual function of property. Owners who decide to continue with activities that require land use change and/or forest harvesting on green and yellow category properties, respectively, may do so following the same procedures currently in effect.

Additionally, if the owner decides to develop their REDD+ project, they may do so only by registering the project and the resulting emission reductions in the Provincial REDD+ Registry.

It is important to note that in both cases the owners will not be part of the recipients of the Jurisdictional Program's income distribution plan.

What options do I have as a private owner?

How will the general population be informed of the results of the process?

The Government of the Province of Misiones is conducting various calls so that the general population can learn about the program, its progress, and the results of the carbon credit certification and sale process.

How does the Misiones REDD+ program differ from other financing mechanisms accessible to the Province?

Some international financial organizations, such as the Green Climate Fund and the Carbon Fund administered by the World Bank, have an ecosystem services payment program. In this sense, a jurisdiction receives funds and the payment per ton of reduced CO2 is decided by the donor. In the case of Argentina, the agreement with the Green Climate Fund is implemented through the Ministry of Environment and Sustainable Development.

The Misiones REDD+ Program, being a certification using voluntary carbon market standards, receives income from the sale of said credits at a price negotiated in the voluntary market through freely decided operations between the buyer and seller of said carbon credits.