The momentum for JREDD+ is growing. (Photo: World Bank)
The acquisition methods for carbon credits are complex and varied. Among them, the carbon credits obtained through Reducing Emission from Deforestation and Degradation (REDD+) garnered significant attention due to allegations of ineffective emission reductions in some projects. Now, a newer category, "Jurisdictional REDD+" (JREDD+), has emerged, potentially increasing market demand by six times and prices by up to fourfold compared to traditional REDD+.
According to S&P Global, REDD+ encompasses all actions aimed at protecting forests from destruction. JREDD+, as a subset, extends the scope from smaller, privately-led projects to larger local government or administrative jurisdictions, such as the Amazon in Brazil or California in the United States.
