The project will also receive partial finance of $2.7m grant from the Global Environment Fund, and additional resources from the project’s local co-executing agencies, the Natura Foundation, the Colombian Mercantile Exchange and the Bogota Chamber of Commerce.
The project will create a Colombian-based voluntary market platform for trading nationally generated VERs, which will be accessible to domestic buyers and sellers, along with international investors.
A total of 371,200 VERs issued to forest carbon projects are expected to be traded on the new market platform and about 464,000 tons of CO2 equivalents will be verified from supported forest carbon projects.
