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Winner: Nature and Biodiversity Project of the Year Award

31 March 2022 |

We are delighted to be recognized for one of our innovative, high impact projects with the Nature and Biodiversity Project of the Year Award at the edie Sustainability Leaders Awards. The award went to ClimateCare, now Climate Impact Partners, and project partner Mikro-Tek for the Mycorrhizal Forestry project in Chile. Using carbon finance, high quality projects like this support our global emission reduction goals and restore nature.

The Mycorrhizal Forestry project is improving forest cover on degraded and/or marginal land using an innovative growth- enhancing biotechnology. Mycorrhizae are fungi that work symbiotically with trees to encourage the formation of larger, healthier root systems. This increases carbon sequestration through improving the health and growth rates of the trees, and carbon finance has made the development of this project possible. Previously, the land was heavily degraded and could not be used – severe soil erosion was common and valuable topsoil was being lost. Other benefits of this project are skilled jobs and additional income to local communities. Approximately 6,000 hectares have been planted in Chile generating over 1 million tonnes of emissions reductions so far.

The Mycorrhizal Forestry project in Chile
The Mycorrhizal Forestry project in Chile

What makes the delivery of this project stand out from other nature-based sustainability and biodiversity initiatives?

Rather than purchasing large tracts of land, Mikro-Tek works with a group of local landowners to restore their unproductive and degraded land. Once under contract with Mikro-Tek, landowners retain control over if and when to harvest their timber, meeting the conditions of a forestry plan approved by the Chilean forestry service. Mikro-Tek provides biotechnology services and carbon management. Carbon credits from the project were then marketed and sold by ClimateCare to corporate clients to offset their unavoidable emissions.

Local workers are trained in forestry and related biotechnology procedures and receive 50% share of the carbon revenues.