Carbon credits news!

About the PODThe primary goal of the program is to sequester CO2 efficiently by incentivizing the growth of Paulownia trees on previously cultivated cropland and grass/pasture land, and to keep the sequestered CO2 stored for multiple decades. 
The program aims to store more than 1.2 million tons of CO2 over its 40-year duration. This is achieved by planting fast-growing Paulownia trees, which are known for their high biomass production.
The harvested wood from these plantations is intended to supply the timber and construction industry, where it will be used in the construction of buildings. This ensures that the sequestered carbon remains stored in harvested wood products for multiple decades, with a minimum duration of 40 years.

Additionally, the program integrates Paulownia trees into grasslands used for feed production and free-range chicken farming, maintaining the current agricultural use while adding carbon sequestration benefits. This dual-purpose approach maximizes the utility of the land. 

In terms of scale, the program has specific expansion goals: establishing 200 hectares of Paulownia plantations in 2024, expanding to 600 hectares in 2025, and reaching 1,000 hectares by 2026. These efforts are expected to result in over 600,000 m³ of timber being grown and ready for the first harvest starting in 2027.

The program's environmental and social benefits include creating economic opportunities for local farmers and supporting the local construction sector through the sale and use of Paulownia wood. Metrics to assess the program's success include measuring the amount of CO2 sequestered in above-ground biomass, tracking the annual expansion of Paulownia plantations, and monitoring the volume of timber produced for the construction industry.

Feedback can be sent in until 10 July 2024 to projects@proba.earth