Rising wildfires are an ongoing risk to global carbon markets

Rising wildfires are an ongoing risk to global carbon markets

NEW DELHI, November 16, 2022 /PRNewswire/ — Digital connected climate (CCD) has released a white paper quantifying the permanence risk posed by increasingly intense wildfires across the Indian subcontinent. This will potentially have a significant impact on nature-based carbon projects and voluntary carbon markets.

To learn more, download the full white paper here

Sharm-el-Sheikh, Egypt (November 16, 2022)
This year’s United Nations Conference of the Parties (COP27) in Sharm el-Sheikh, Egypt in full swing, with countries meeting to decide on global action to tackle climate change, with a particular focus on compliance with Article 6.

The CCD delegation visiting the COP has published a white paper, detailing the impact of rising temperatures on carbon stocks in forests and the intensification of wildfires in the Indian subcontinent region. This raises concerns about the future health of natural ecosystems and carbon markets. Current climate trends and future projections are alarming, as the average temperature trend over the past 40 years has seen an increase of 0.5°C, resulting in significantly increased climate volatility.

Projections until 2100 for the center India predict a significant increase in precipitation of 100 mm and an increase in average temperature of 1.2°C. Thus, the frequency, duration and intensity of forest fires are also expected to be exacerbated.

These pose major risks for nature-based solutions (NBS) projects and carbon project developers. In turn, there will be a direct impact on global carbon registries, which will need to manage the necessary buffers to mitigate the associated permanence risk.

Currently, approximately 20% of a project’s carbon credits are buffered by registries at the time of issuance, to mitigate permanence risk. However, this level could be insufficient in the future and have a knock-on effect on world markets.

The paper – titled Climate change: impact on rainfall, temperature and forest fires, an Indian perspective – examines past trends for India from 1951 to 2020, and until 2100. The study highlights the need to conduct similar types of climate analyzes in other parts of the world.

Based on his findings, Digital connected climate began developing tools for near real-time monitoring of wildfires in areas of interest and generating actionable alerts.

About Climate Connect Digital:

Digital connected climate (CCD) is a climate technology company that has been providing innovative technologies and consulting solutions in the areas of climate and clean energy for over 12 years.

A pioneer in the application of AI to energy and climate technologies, its solutions are deployed in various networks and manage 12 GW of solar and wind energy production in more than 100 power plants.

With software solutions and expert consultants, CCD enables companies to develop and implement strategies to achieve long-term emission reduction goals. Its software tools and expert advisory services also help carbon project developers get the most out of their carbon assets.

Photo – https://mma.prnewswire.com/media/1949056/Forest_Fire.jpg

To connect please write to us at contact@climateconnect.digital

SOURCE Climate Connect Digital (CCD)


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