The Mozban project will involve the conservation of a large and threatened endemic forest area. It will generate carbon credits by reducing emissions from deforestation and forest degradation (REDD+) on land that would otherwise face deforestation and degradation.
A third-party pre-feasibility study has already been conducted, estimating mitigation of 0.9-1.9 million tonnes of CO2 (and generation of the equivalent number of credits) over 20 years. This value is pending the actual amount of approved conversion by Verra. Additional studies on agroforestry alternatives including macadamia, mango and cashew, and the avoidance of forest degradation of native trees are ongoing.
The project is estimated to start in 2024, with a length of 49 years and the right to extend for successive 10-year periods. It will be overseen by the Mozban management team who have more than 10 years of experience in Mozambique, and Key Carbon will be investing in and supporting the project.
Mozambique has 40 million hectares of forest vulnerable to alarmingly high rates of deforestation, providing ample opportunity for expansion of this partnership.