Namibian bioeconomy startup, Carbon Capital, has successfully registered its biochar-based carbon credit project on the Nasdaq-owned Puro.earth carbon credit registry.
“The project sold its first carbon credits, a pilot quantity of just over 550 credits, on the day of registration to a billion-US$ company. Going forward, this will increase many-fold, and further projects will be developed by the Carbon team,” said sister company Cirrus Capital.
The team further emphasised that this is the first Namibian biochar-based CDR (carbon dioxide removal) credit project registered on the Puro.earth registry and the largest such project in Africa.
“The biochar will be used to improve agricultural soils in Namibia, which helps improve productivity and food security, and stimulates ecosystem restoration and biodiversity conservation,” noted Carbon Capital.
The firm now encourages local Namibian companies to purchase high-integrity, locally produced carbon credits to contribute towards climate change mitigation efforts.
Planboo, a provider of nature-based carbon removal, is the partner who helped develop the credit opportunity with Carbon Capital. Planboo have developed numerous biochar credit schemes globally, but this is their first industrial-scale biochar project, as well as the first using Puro.earth’s biochar methodology.
Namibia is affected by over 45 million hectares of bush encroachment, degrading once productive savannah ecosystems. Encroachment reduces rangeland productivity, biodiversity, and ground water – ultimately worsening climate change resilience.
“Bush encroachment hampers the thriving of the unique savannah ecosystem. Consequently, the government and landowners have initiated efforts to manage the encroaching bush. Bush harvesting is permitted and managed by the Directorate of Forestry, and many such projects also opt for internationally recognised voluntary standards, including Forest Stewardship Council (FSC), to foster safe and sustainable management practices,” stated the firm.
“Utilising the large-capacity Retorts from Carbon Capital’s Retort Charcoal Producers project ensures that the biochar produced is of the highest quality, meeting the most stringent international biochar standards. The biochar is used to sequester carbon, effectively removing the carbon from the atmosphere and locking it away in agricultural soils for hundreds of years” said Planboo.
Puro.earth’s registry is the world’s first registry for engineered carbon sequestration projects where all new issuances and retirements can be viewed.
