Meet Wildsense, one of our project screening partners
We needed an ultra-vigilant screening, certifying and monitoring partner to manage the decarbonization projects our holders engage with: Wildsense checks all those boxes!
How does CarbonABLE find projects?
When we decided to use DeFi to finance real rewilding projects, we knew we needed best-in-class partners. Project screening and selection is one of the most critical aspects we have to get right if we want to have a meaningful impact on regenerating nature. When we found Wildsense, one of our project selection partners, we knew we’d hit gold.
The Wildsense Way
Wildsense was created with the support of the European Space Agency. The engineering team developed remote sensing models to monitor forest health and risks. Their cutting-edge models were successfully tested over 1M ha across Europe. Today, Wildsense puts their technology to use as a carbon credit project screening company that selects, certifies, monitors, and guarantees carbon credit projects.
Screening
When screening a project, Wildsense conducts a thorough due diligence study. The team runs a project background check, a project quality check, and ensures the project can really offset as much carbon as they claim.
Wildsense has high screening expectations. Here’s a few examples:
- Each reforestation project must choose native tree species and plant at least 2 different species, endemic to the region
- Trees or mangroves must be planted and monitored by trained local communities, generating local employment, with fair wage and with at least 50% of women workers
Certification
Once Wildsense has selected a project, the analysis begins! First, they must undertake a carbon calculation based on IPCC equations and proprietary analysis of the project area using satellite imagery and field data.
This results in the number of Voluntary Carbon Credits (VCCs) that can be created for the project.
Wildsense’s standard is recognized by Ecovadis, the most trusted sustainability standard in the world (90,000+ companies, 160+ countries, 200+ industries). The credits are sold the same way as Gold Standard or Verra credits and they have the same legal status.
Cutting-edge monitoring and VCCs issuance
Wildsense monitors the project for the life of the initiative. This is it to make sure the project is actually absorbing the CO2 the issued credits represent. How? By using satellite imagery, forest cover monitoring and biomass mapping on a monthly basis.
Low-tech methods are also part of the protocol: they analyze data collected from the field by local caregivers (such as tree measurement), and make field visits every 5 years to audit the project. They also monitor surrounding areas (also known as a leakage belt) to ensure projects don’t cause negative unintended consequences.
By following such careful processes, the carbon sink projects validated by Wildsense produce premium carbon credits. Their monitoring practices address some big transparency problems in carbon credits today: additionality, permanence, leakage, and double-counting.
A guaranteed model
Wildsense knows that not every tree or every acre of protected land makes it. To protect our share holders against this risk, they create an internal insurance pool of credits for each project — so if one part of the project doesn’t make it to maturity, they can cushion the blow for our holders by replacing those lost credits with credits from the internal pool.
How CarbonABLE and Wildsense work together
First, Wildsense presents projects they’ve screened to CarbonABLE. These due diligence reports are also available to our NFT holders: we’re totally transparent with you! When we decide to finance a project approved by Wildsense, we sign an off-chain international contract to reserve all the carbon credits available for the life of the project at a frozen rate. This gives us early buying access to the project and is part of why we’re able to ensure a great resale value for our holders.
Second, NFT holders can check on how the plot of land that is linked to their NFT is doing whenever they want: they have access to satellite images, biomass estimation models, videos, photos and more.
