Climate Impact Partners has successfully registered the first India-based project under Verra’s VM0047 methodology.
The milestone registration is for the Panna Afforestation Project, which will include the restoration of degraded landscapes in the Indian state of Madhya Pradesh.
This project is only the fourth initiative globally to be registered under Verra’s rigorous new standard for Afforestation, Reforestation, and Revegetation (ARR)—approved by the ICVCM for its high-quality Core Carbon Principles (CCP) label.
Having secured this registration, the project, originally designed to align with the highest standards of the carbon removal industry, will operate following the demanding quality, permanence, and monitoring requirements outlined in this CCP-approved methodology.
For Climate Impact Partners, the registration of the Panna project follows the company’s successful registration of the first Asia-based VM0047 initiative—the Rizome Kawayan Project located in the Philippines.
Commenting on the Panna registration, Sheri Hickok, CEO at Climate Impact Partners, said that it is a “testament to the technical strength and dedication of our team, proving our ability to design and deliver projects of the highest caliber under the world’s most demanding methodologies.”
“Importantly, it also means our clients can access high-quality, VM0047 CCP-aligned carbon removals from a project that delivers real, lasting impact for both climate and communities. Panna reflects the kind of high-integrity carbon removal infrastructure the market needs to scale.”
Relevant: Climate Impact Partners And RIZOME Register Asia’s First VM0047 Project With Verra
Moving forward, the Panna Afforestation Project will focus on large-scale restoration activities that will include planting up to 10 million mixed native trees across farmer lands, which in turn is estimated to remove 3 million tonnes of atmospheric carbon. To support tree growth and improve water conservation, the project has implemented large-scale water systems, such as ponds, borewells, and drip irrigation.
Additionally, the project will create economic opportunities for farmers in this area, who will benefit directly from a share of carbon credit sales and income generated from the sericulture and fruit value chains, laying a foundation for a sustainable, multi-generational livelihood model.
Climate Impact Partners points out that while a significant portion of Project Panna’s CO2 removals are already contracted by Microsoft, 50% of its high-integrity credits are still available for purchase.
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