Rainforest Resources Inc. Announces Ukumari Cloud Forest Project Development
November 5, 2020 - The Technical Team of Rainforest del Ecuador is carrying out the process of project development for the 9,190 hectare Ukumari Cloud Forest (formerly San Vicente de Cambugan). This is the first step with VERRA towards the issuance of tradable VCU´s (verified carbon units) in their VCS Program (Verified Carbon Standard program), the world´s largest and leading voluntary program for the certification of GHG emission reduction projects (see https://verra.org).
This project development process follows the strict standards, rules and requirements of VERRA´s VCS and CCB programs. VERRAS´s CCB Program (CCB = Climate, Community and Biodiversity) is the world´s leading framework for assessing land management projects that create net-positive benefits for climate change mitigation, local communities and biodiversity. Rainforest del Ecuador has chosen to develop the Ukumari Cloud Forest Project with VCS and CCB standards in order to minimize risks, guarantee sustainability and maximize benefits. In maximizing direct economic benefits, the high standards and excellence demanded from VERRA´s VCS+CCB Programs, their transparency and use of third party validation and verification lead to better marketing of VCUs, preferential market access, preferential investment by investors and ultimately premium pricing. At this point, the proposed name for the Ukumari Forest VCS+CCB project is “La Casa del Oso/The Bear´s House” given that this forest is home to an important population of the Andean Bear or Spectacled Bear needing protection.
At this very early stage in project development, Rainforest del Ecuador´s technical team is busy in the field collecting data and building community relations, and busy in the office filling out project planning documents, especially focusing on the extremely rigorous and highly technical work of applying VERRA´s approved methodologies for calculating carbon units from avoided deforestation. Now that Rainforest del Ecuador owns the Ukumari Forest, forest destruction will be avoided. Avoided deforestation = VCUs = financing forest conservation = saving the bear´s house… among so many other benefits now possible through the new owners of the Ukumari forest.
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