The Environmental Finance Annual Global Voluntary Carbon Market Rankings (A.K.A the Olympics of the carbon markets) are out, and BCP is delighted to share that the LCFP (Luangwa Community Forests Project) was ranked the Best Individual Offsetting Project in the World, bringing the gold home to Zambia in 2021!
This recognition is testament to the Zambian Government’s leadership in creating an enabling environment by granting carbon rights to communities. With carbon ownership, communities partnering in the LCFP have blazed a trail of increasing livelihoods and wildlife, while decreasing encroachment and emissions from deforestation, proving that quality and scalable community projects are possible.
In 2020 and 2021, while the Zambian economy is estimated to have contracted by 1.2% and thousands of jobs have been lost as a result of Covid-19, the pandemic has placed immense pressure on Zambia’s rural communities, many of whom rely on the conservation, tourism and agricultural sectors. While tourism has been pushed to the brink (with South Luangwa NP generating an estimated $30 million pre-Covid-19 to as little as $4.5 million today), REDD+ has continued to bring revenue to local communities, with direct payments of K92 million (US$ 4.8 million) directly paid to communities since the pandemic began. Over the last five years, household income has increased 171%, and a minimum of 1,000 jobs have been created in the LCFP, demonstrating how durable and successful the REDD+ model has proven to Zambia’s local economy!
“The reason why I partnered with BCP is that we share the same values of protecting the environment. We have seen a lot of changes, in terms of wildlife numbers, how the forest is being cared for, and the community impacts. Through the partnership, we have seen development and enhanced infrastructure in the Chiefdom. As well as seeing the benefits of climate-smart agriculture techniques”
His Royal Highness and Chairman of the House of Chiefs, Senior Chief Luembe.
When it comes to climate change, Africa is so often the ‘forgotten continent’, for it receives less than 3% of global climate finance, however, 30 out of the 40 most climate-vulnerable countries in the world are in Africa. As a continent it contributes the least to global warming, and yet, extreme weather events are growing in both frequency and severity with an alarming impact on biodiversity loss, making it so important to put African projects, such as LCFP on the map;
“We are incredibly humbled by this recognition in the global rankings. We are so grateful to everyone who voted for us, and without whose commitment this would not be possible. We thank our community and government partners for their central role in these achievements showing that Zambia is far ahead in implementing quality forest protection at scale, and USAID for their visionary catalytic financial support of the project. With the IPPC’s report declaring a ‘code red for humanity’, scale, quality and community participation are critical in the climate change fight. The best thing about projects like LCFP is that they embody hope. People are benefitting, wildlife is benefitting and the world is benefitting”
Dr. Hassan Sachedina, BCP Founder and CEO.
In addition to the world’s best REDD+ project, BCP received the award for best impact report and was runner-up as best developer in the forestry sector, and runner-up as best developer, overall.
Join us on our journey and check out BCP’s award-winning Impact Report right here!