Verst Carbon Launches its Innovative Carbon Project Development Support Platform at COP28
The recently concluded COP28 in Dubai marked a significant milestone in Verst Carbon’s journey. In a groundbreaking move, our CEO Brian Nyangena officially unveiled the Verst Carbon carbon project development support platform, which is set to play a pivotal role in shaping the future of carbon trading in Africa. Months of rigorous research, development, testing, iteration, and improvement culminated in this unveiling of our innovative platform to all carbon market stakeholders.
Our launch took place during the ‘Building the Foundations of Africa’s Carbon Markets with Integrity’ side event and was graced by a distinguished panel of experts across the carbon market landscape. Moderated by the the Rockefeller Foundation’s VP of Africa William Asiko, the panel included Ms. Annette Nazareth, Chair of ICVCM; Brian Nyangena our CEO; Gillian Caldwell from USAID; Tariye Gbadegesin of ARM-Harith Infrastructure Investment LTD and VCMI; Judith Simon from Verra; Paul Muthaura of the Africa Carbon Markets Initiative (ACMI); Ms. Sophie Odupoy from KOKO Networks; and Lydia Sheldrake from VCMI. Each panelist brought their unique perspective and expertise to the discussion, focusing on the development, integrity, and regulation of carbon markets in Africa.
The Verst Carbon Platform
The Verst Carbon platform is a holistic solution that convenes investors, project developers, auditors, and other key players in the carbon market ecosystem for effective collaboration. Our focus is on nurturing effective collaboration to support carbon projects in Africa, ensuring the utmost integrity and adherence to global standards, as well as the equitable distribution of benefits to communities.
As a technology enabler in the VCM, Verst Carbon’s mission is to alleviate the bottlenecks that have traditionally prevented African carbon projects from accessing global carbon finance. We have achieved this through the following innovative and pioneering solutions available on the Verst Carbon platform:
- Bridging Access to Carbon Markets in Africa
Our solution: Project Development Support Platform
At Verst Carbon, we’re addressing the critical challenge of limited access to carbon finance for African projects. Our platform uniquely brings together diverse stakeholders in the carbon market, enabling effective collaboration. We provide project owners with real-time guidance and access to a comprehensive network of professionals, including project developers, consultants, VVBs, MRV auditors, investors, and buyers. This initiative is a vital step in unlocking Africa’s vast carbon potential.
- Empowering New Developers with AI
Our solution: Verstie ‘Carbon Buddy’ chatbot
Understanding the hurdles faced by first-time carbon project developers, particularly in Africa, we developed the Verstie ‘Carbon Buddy’ AI chatbot. This AI-powered tool offers 24/7 guidance, supporting developers throughout their project development journey. It’s an essential resource for newcomers to the carbon market, providing them with critical insights and assistance.
- Making Carbon Project Documentation Affordable
Our solution: AI-assisted PDD Generation Tool
Acknowledging the prohibitive costs of preparing Project Design Documents (PDD) for carbon projects, we at Verst Carbon introduced a PDD generation tool that reduces these costs by up to 90%. This dramatic cost reduction democratizes access to the carbon markets, allowing more developers to partake in these important environmental initiatives.
- Enhancing Integrity and Reducing Monitoring Costs in Carbon Projects
Our solution: Pioneering Digital Monitoring Reporting and Verification (dMRV)
Verst Carbon is part of the Africa Carbon Markets Initiative (ACMI) Monitoring Reporting and Verification (MRV) working group, where we are pioneering the use of technologies like IoT devices, satellite imagery, AI, and machine learning for remote impact quantification. This approach ensures the integrity of carbon projects is verifiable and reduces the costs of monitoring at scale.
Verst Carbon stands out in its commitment to quality African carbon credit projects, offering a transparent, equitable, and inclusive platform for supporting African carbon projects. Each project on our platform is held to the highest standards, focusing not just on emission reduction or removal, but also on delivering tangible co-benefits that contribute meaningfully to the welfare of the communities involved.
Our launch marks not only a significant stride for Verst Carbon but also a major advancement for Africa’s carbon markets. We are set to be a key player in shaping the region’s carbon trading future, ensuring integrity and equitable sharing of benefits in a region grappling with the worst effects of climate change. We invite you to experience the difference Verst Carbon makes – try out our platform today and be a part of this transformative journey.