Swiss Carbon Project Developer South Pole Terminates Kariba REDD+ Project in Zimbabwe
- Wednesday, October 16, 2024
Swiss carbon project developer South Pole announced on Friday that it is terminating its contract with Carbon Green Investments (CGI), the owner and developer of the Kariba REDD+ project in Zimbabwe. This decision comes shortly after South Pole was placed under investigation by carbon standard setter Verra.
All activities related to carbon certification and carbon credits from the project will now be handled solely by CGI, as South Pole's role as the carbon asset developer has come to an end.
According to The New Yorker report, CGI and its owner Steve Wentzel face allegations that they cannot account for a significant portion of the project's income or provide evidence of revenue delivered to the supporting communities. Additionally, it is claimed that Wentzel permitted trophy hunting in the project area, contradicting the sanctuary image that Kariba projects for wildlife and threatened species.
South Pole Terminates Kariba REDD+ Project
On Friday, South Pole acknowledged the claims, saying the termination follows careful consideration of the project, issues involved, and allegations that have been raised publicly.
Concerns Regarding Project Standards
"We are not confident that the project meets the high standards we expect from our partners all over the world," said a statement attributed to an unnamed South Pole spokesperson. The company believes that the Kariba REDD+ project aimed to bring benefits to both the communities it supports and the forest and biodiversity it protects. However, they expressed great sadness in reaching this conclusion.
Responsibility Lies with Carbon Green Africa
The company emphasized that CGI's local partner Carbon Green Africa has had and will continue to have full responsibility for operating the project on the ground. South Pole clarified that Kariba has always been owned by the communities and run by CGA, and South Pole itself "never had any equity stake" in the underlying project.
Reporting by Abdul Latheef; Editing by Jeremy Rakes and Michael Kelly
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