The webinar on 13th January 2025 was attended by over 100 Project Owners, and we are grateful for the incredible engagement throughout the session. This exclusive webinar offered an in-depth demonstration of the GCC 2.0 Project Portal, specifically designed to simplify project submissions and improve user experience.
Speakers Who Led the Session
Moderator
- Ritah Rukundo, GIZ
Speakers
- Heather McEwan, Carbon Offset Markets, Verra
- Kavya Bajaj, Gold Standard
- Hemant Nandanpawar, Global Carbon Council
- Judy Ndichu CPM, South Pole
- Bianca Gichangi, VCMI
Hemant discussed the crucial differences between VCM and compliance markets under Article 6 of Paris Agreement. He explained that while VCM supports corporate and private sector efforts to achieve carbon neutrality and Net Zero targets, compliance markets under Article 6 are essential for countries to meet their Nationally Determined Contributions (NDCs). A key point emphasized was the role of the “Letter of Authorization” (LoA) for Corresponding Adjustments (CAs), a vital process in ensuring transparency and integrity in carbon credits traded in compliance markets.
Additionally, Hemant highlighted the importance of VCM in mobilizing private sector investment, which can significantly reduce the financial burden on developing countries striving to meet their NDCs. He explained how VCM complements compliance-based mechanisms under Article 6 by fostering climate finance for renewable energy, forestry, and carbon removal projects, especially in the developing world.
As part of GCC’s ongoing commitment to sustainable development, Hemant also talked about the organization’s dedication to maintaining high environmental integrity through GCC’s additional labels for SDG contribution (SDD+), Environmental (E+), and social no net harm contribution (S+). These labels aim to provide clear indicators of a project’s social, environmental, and sustainable development benefits.
Lastly, Hemant touched upon GCC’s work in helping countries operationalize Article 6.2, with GCC’s Article 6 National Registry Solution which will provide complete carbon market infrastructure, along with the robust tracking and reporting system to ensure the transparency and credibility of carbon credit transactions.
Looking Ahead
The insights shared in this session underscored the vital role that both voluntary and compliance carbon markets can play in achieving Eastern Africa’s climate resilience. By leveraging high-integrity standards and fostering regional collaboration, the region can accelerate its contribution to global climate goals while promoting sustainable development.
