Testimonials &
Case Studies

Latin Ameria and the Caribbean

The Partnership for Agricultural Carbon (PAC) is a regional partnership hosted by the Inter-American Institute for Cooperation on Agriculture (IICA) and incubated via VCMI’s Access Strategies Program. PAC’s primary objective is to support and scale the transition towards sustainable agriculture solutions in Latin America and the Caribbean (LAC) through high-integrity carbon markets.   

Current funding focuses on strengthening policy frameworks and capacities for market development and creating catalytic training materials and knowledge products for key stakeholders. In the run up to COP28, where PAC was launched, Access Strategies funding supported the development of a policy brief for Agriculture ministers of the Americas exploring agricultural and blue carbon market opportunities in LAC, as well as a report setting out how to unlock carbon finance for the livestock and agroforestry sub-sectors, two of the most prominent economic activities in the region.

State of Yucatan (Mexico)

In partnership with Climate Focus and UNDP, VCMI supported and the Government of Yucatan to develop and publish best practice guidelines for private sector actors seeking to develop voluntary carbon market (VCM) projects within the state. 

The State of Yucatan is recognized globally for its rich biodiversity and natural ecosystems, particularly mangrove wetlands and tropical rainforests: the Yucatan Peninsula contains 60% of the mangroves in all of Mexico.

The VCM can serve as an instrument to attract investment for conservation, restoration, and sustainable development.

To learn more, check out the Best Practice Guide and press release.

Benin 

VCMI has partnered with the Government of Benin to ensure the effective integration and governance of high-integrity carbon markets within its national climate plan, as one tool among many to finance its nationally determined contribution (NDC). 

Benin is one of the most climate-vulnerable countries globally. Under a business-as-usual warming scenario, it will be one of the most exposed countries to extreme temperatures by 2070. Already, climate hazards have significantly impacted its agricultural productivity, water resources, and food security.  

This project will support Benin to strategically leverage carbon finance from local projects, allowing Benin to mitigate climate risks while enhancing food security and energy independence. 

Kenya 

VCMI funded the secondment of a carbon markets specialist to work directly within the Government of Kenya to support the development of the country’s holistic carbon market regulations (both Article 6 and voluntary).  

Additionally, VCMI has supported the establishment of a collaborative and inclusive platform for public, private, and civil society stakeholders in Kenya to examine challenges, explore solutions, and develop recommendations for the growth of a high-integrity carbon market in the country, culminating in a high-level Carbon Markets Conference. 

These initiatives have reinforced Kenya’s position as a global leader in producing high-quality, high-value carbon credits, attracting global investment into local climate solutions. 

Peru 

VCMI is collaborating with Peru’s Ministry of Environment to expand and scale the country’s voluntary carbon market. This involves evaluating a range of policy options to incentivize investment (domestic and international) into high-quality carbon projects that align with Peru’s climate and sustainable development priorities, as well as strengthening local private sector knowledge and capacities to boost developer and investor engagement.

Pakistan 

Legal and policy uncertainty has slowed the growth of carbon market activities in Pakistan. To attract investment into high-integrity carbon projects, VCMI is supporting the Government of Pakistan to strengthen its legal framework on carbon markets and provide clear policy signals to market participants.  

This entails developing a streamlined approach to carbon market governance by creating a single legal instrument governing both VCM and Article 6 Paris Agreement activities. The project seeks to incorporate Article 6 components, as well as recent local policy decisions, into the country’s carbon market rules.