Why veritree?
This partnership with veritree provides confidence that the impacts of our efforts in investing in nature-based solutions are real, measured and verified. Through this partnership, we ensure the right trees are planted in the right place and the trees, once planted, are staying on the ground as intended.
‘Nature-Based Solutions’ is a technical term that simply describes an action that results in either avoided deforestation or enhancing a carbon sink through reforestation or ecosystem restoration.
According to analysis by the World Economic Forum and McKinsey, Nature-Based Solutions are a cost-effective means to deliver up to one-third of the emissions reduction needed by 2030 as part of the net zero transition to achieve a 2-degree pathway.
Moreover, investment in Nature-Based Solutions, when done well, can accrue co-benefits that help address other societal challenges while being good for business, people, and nature. However, when done badly, the investment may do more harm than good.
Approximately 10% of the funding for tree planting goes to protecting the forest for the initial 3-5 years - the critical years where trees are most vulnerable. We also establish buffer pools to cover any potential abnormal losses.
But veritree goes beyond simply allocating money. We work closely with the local communities to showcase the immense value newly planted forests bring to their families. Through education and by involving them in the monitoring and reporting process, we find local communities quickly develop a deep sense of ownership and pride over their trees, leading to effective management over the long-term, keeping forests not just alive, but keeping them thriving.