First VM0047 project in Asia and only the second registered globally
Giant bamboo planting in Mindanao expected to sequester 3 million tonnes of carbon over 20 years
Project delivers climate, community, and economic benefits while producing CCP-labelled credits
Climate Impact Partners, in partnership with RIZOME, has registered Asia’s first VM0047 project with Verra — only the second such project worldwide. Located in Mindanao, Philippines, the initiative restores degraded land using giant bamboo (Dendrocalamus asper) while creating new income streams for indigenous communities.
The project is expected to remove more than three million tonnes of carbon dioxide over the next two decades. Beyond carbon sequestration, bamboo’s deep root systems help reduce flooding, prevent soil erosion, improve groundwater quality, and accelerate land restoration.
Carbon finance plays a critical role, allowing landowners to generate income before bamboo reaches harvest maturity, with shared revenues from emissions reductions supporting long-term development. The project also aligns with multiple UN Sustainable Development Goals, from poverty reduction and gender equality to clean water access.
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Kelly Fitzwater, Director of Global Supply Chain at Climate Impact Partners, said:“The registration of this project is a testament to the technical strength and dedication of our team. Navigating a new methodology and delivering a project of this calibre – in close collaboration with our partners on the ground – demonstrates what’s possible when expertise meets purpose. For corporates on the path to net zero, this project offers the opportunity to support a truly high-quality, community-driven solution that delivers real, lasting impact.”
Russell Smith, President & CEO of RIZOME, added:
“Giant bamboo is a powerful climate resilience and sustainable development tool. Through this project, we’re not only restoring degraded land, we are also creating a foundation for multi-generational income, opportunities for marginalised indigenous communities, and supporting the transition towards a circular economy in the Philippines. Our partnership with Climate Impact Partners ensures that finance will flow to this project, bringing global support to local communities and ultimately delivering high-integrity credits to the market. We look forward to deepening our partnership over the coming years.”
With more VM0047 projects in development, Climate Impact Partners is positioning itself at the forefront of high-integrity carbon market solutions, setting new standards for credibility and impact in voluntary carbon markets.
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