A Tanzania-based developer has partnered with CreditNature to launch a nature credit pilot in the Kilimanjaro region by the end of November, Carbon Pulse has learned.

Led by Kijani Pamoja’s The Kilimanjaro Project, the initiative aims to restore more than 2,000 hectares of degraded land in Kahe Ward, Tanzania, and connect two forests with biodiversity-rich areas nearby, in partnership with local communities.

“[These forests] have been hammered … they’ve been totally degraded and they desperately need restoration,” Sarah Scott, founder of The Kilimanjaro Project, told Carbon Pulse.

“We will be creating a biodiversity corridor that connects these forests to the nearby Miweleni Spring, and restoring the habitat of the majestic giant Prioria msoo, a critically endangered species from Kilimanjaro.”

The Kilimanjaro Project, supported by the Biodiversity Investments – Researcher & Accelerator (BIRA) programme, has been working since 2020 to mobilise funding towards smallholder farmers, primarily through the voluntary carbon market.

With the Kahe Ward initiative, it now seeks to venture into the nature credit market.

AREA ASSESSMENT

During the first year, the project will focus on in-depth assessments of the area, including the distribution of tree species, with the aim of laying the groundwork for restoration activities.

“The pilot will start in November and run for approximately one year, maybe less,” said Scott.

“We will assess the different zones – forests, alkaline soils, invasive species, and riparian zones – and see what tree species and restoration interventions will be needed.”

Once the project is up and running, it will generate nature credits based on the Natural Asset Recovery Investments Analytics (NARIA) framework developed by CreditNature.

The NARIA terrestrial ecosystem condition method – the first ecosystem-level method accredited under the Accounting for Nature standard – quantifies and measures changes in the condition of ecosystem integrity to create nature credits.

The method measures indicators such as bird trait diversity, predator-prey interaction, landscape connectivity, and vegetation spatial diversity, using both remote sensing and field data.

“[CreditNature] will do all the ratings, capture the data, and then convert it into the credit that will be sold to investors,” said Scott.

POTENTIAL BUYERS

Scott said she is speaking with the African Natural Capital Alliance (ANCA), an African-led initiative whose members together manage assets of $390 billion, to find buyers for the credits.

Earlier this year, ANCA said it plans to establish a comprehensive nature data platform for the continent, in a bid to drive investment into nature-based solutions such as carbon and biodiversity credits.

“I’ve made a challenge to several members, as African organisations, why don’t they take a stance to invest in early nature credit projects?” Scott said.

“This would also send out a market signal to the world that Africa is investing in its own natural capital.”

Africa’s nature credit markets have suffered so far from poor demand, particularly from European and North American companies, who are more keen to invest where their supply chains have an impact.

In a report released in May, the Biodiversity Credits Incubator recognised biodiversity credits as an opportunity to scale investments in the region.

However, speaking to Carbon Pulse, one of its early members advised caution since it is “still a young emerging market with several key challenges facing it before it is fully adopted”.

By Sergio Colombo – sergio@carbon-pulse.com

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