Acre’s innovative REDD+ program applies the Jurisdictional and Nested REDD+ accounting framework (JNR) to help conserve precious natural capital
During 2013, Acre developed a Jurisdictional Program Description (JPD) and underwent a pre-validation assessment by TUV SUD, an accredited validation/verification body (VVB) under the VCS. Acre is now in the process of contracting a validation/verification body for the full validation and verification of its program under JNR Scenario 2, which will allow both the jurisdictional government and nested projects to receive direct crediting.
Acre aims to issue jurisdictional Verified Carbon Units (VCUs) in 2014 that will position the state to become the first jurisdiction-wide program to deliver compliance-grade REDD+ credits. In 2013 the REDD Early Movers program agreed to performance-based payments totaling ~$25 million USD. Acre has also an MOU with the state of California to provide a pathway for its early participation in California’s cap-and-trade system, and has secured a private sector buyer of VCUs for another portion of its emission reductions. Through these agreements and the use of JNR as its core carbon accounting framework, Acre clearly demonstrates the ability of JNR to catalyse a diverse range of funding streams that ultimately ensure the long-term sustainability of a jurisdictional REDD+ program.