Carbon Done Right Developments Inc. has completed the fourth phase of financing for its Sierra Leone rewilding project, facilitating the planting of native trees on additional land and providing economic benefits to local smallholders. The project, which aims to generate carbon credits through reforestation, also includes the development of Treecounter, a technology platform that ensures fair credit distribution.
Despite facing public scrutiny, the company maintains transparent operations and has confirmed the legality of its project through various reviews and legal confirmations.
Carbon Done Right CEO, James Tansey,w stated ‘This fourth milestone demonstrates continued progress with this critically important project. The restoration sites focus on abandoned land in Sierra Leone and provide direct income to the smallholders within these communities and long-term revenue-sharing benefits. The project also demonstrates a model for large-scale restoration of native species that begins to reverse decades of damage to the climate from deforestation. Restoring nature’s capacity to sequester carbon is a key strategy for reversing and preventing climate change. The in-country team is busy preparing for the 2024 planting season, where we expect to plant native tree species up to 2,000 ha of additional degraded land.’
On 3 April 2024, the Company received an enquiry from The Times newspaper regarding the Company’s West African operations and a possible media piece to be published. The Company has been engaging with the newspaper openly and transparently, providing detailed responses and context. Some of the questions that have been posed suggest that much of the newspaper’s sourced information is inaccurate, incomplete or based on misunderstandings of the Company’s operations, which the Company has responded to in clear and detailed terms.
The underlying project in Sierra Leone has been extensively reviewed by investors, the legal team, the AIM Nominated Adviser, a UK-based granting funder and Ecosecurities. The legal status of the leases has also been confirmed by an independent law firm in Sierra Leone.
The landowning families are represented by Namati, an international NGO with a longstanding presence in Sierra Leone, that ensures landowners’ rights are protected during the Free, Prior and Informed Consent (FPIC) land lease process. The Company continues its constructive engagement with the NGOs in the area.
The Company is also developing a new technology platform called Treecounter, which provides unprecedented transparency and traceability for restoration projects, connecting smallholder farmers with a system that is designed to ensure the value created from the sales of carbon credits is shared fairly with land-owning families.
The Company is developing a large-scale rewilding reforestation project in Sierra Leone over an initial area of 5,000 ha, to extend by a further 20,000 ha. The initial project area of 5,000 ha can produce up to 1.7m tonnes of validated and verified Verra carbon credits over 30 years. The total pre-purchase amount will be repaid through the delivery of validated and verified carbon credits to the pre-purchaser.
About Carbon Done Right
Carbon Done Right is an owner and operator of nature-based carbon assets that serves the growing demand for carbon credits from companies seeking to meet their Net Zero goals. The Company achieves this by investing in the exploration, restoration and management of terrestrial and marine systems that can either be protected to enhance the sequestration of greenhouse gases or restored from a degraded status to fully productive ecosystems. The Company’s dedication to environmental stewardship and its robust pipeline of carbon credit projects makes it a trusted partner to the largest buyers of carbon credits in the world, in the fight against climate change. Carbon Done Right deploys capital at risk under various arrangements (including cooperation, assignment, and production-sharing agreements) with government engagement in various suitable jurisdictions around the world including Sierra Leone, Yucatan, Guyana and Suriname.
