Swiss-based climate foundation myclimate recently signed a new agreement for credits from Sirebe and Siporae, two landowning groups protecting and managing forests as part of the Babatana Rainforest Conservation Project in Choiseul, Solomon Islands.
We spoke to Silvana Comino from myclimate about what makes a good partnership in the current market and why they focus on 'climate contributions' over credits.
Q: What is myclimate’s relationship to the Babatana Project in Solomon Islands?
A: We have partnered with Nakau since 2019 to support projects in the Pacific Islands by acting as a certificate buyer that retires credits directly on behalf of our clients. We do not consider ourselves a reseller, as we do not trade credits. Our connection to Babatana is best described as a collaborative partnership between us, our clients, the project and Nakau.
Q: In your experience, what motivates buyers in Europe to purchase carbon credits? What kinds of businesses typically work with you?
A: Clients in Europe often look for projects with a strong story to tell, and they are interested in high-integrity projects with strong biodiversity and community benefits. Most of our buyers are small- and medium-sized enterprises, with the exception of one large supermarket chain that is currently supporting Babatana.
Q: myclimate uses the term ‘climate contributions’ rather than credits. Can you explain why this is important?
A: When it comes to climate contributions, myclimate supports companies seeking to take climate action by funding high-quality emission reduction or removal projects. myclimate does not claim this funding offsets or compensates for an organisation’s own emissions. Instead, organisations can clearly and transparently state they have contributed to climate action—such as by purchasing and retiring carbon credits—without asserting this cancels out their carbon footprint.
A climate contribution claim should focus on supporting real and additional climate projects and financing— such as the Babatana project—that drive climate mitigation and sustainable development, without creating a direct accounting equivalence between contributions and an organisation’s emissions.
Q: What do you see as key to strengthening trust and connection between buyers and project owners?
A: Transparency, regular reporting and strong marketing materials that include voices from the project are all important for building buyer trust in the market. From our side, we consider ourselves a fair carbon buyer, recognising that credit prices reflect the work and stewardship of local landowners who care for forest ecosystems and who have limited other sources of income or market access, aside from logging of course.
Q: What role do you think governments, NGOs and other sector stakeholders play in this relationship
A: We all need to work more closely together. Especially where there are limited financial resources and technical expertise, everyone has a role to play. The financial sector must acknowledge its enabling role and responsibility towards nature-based solutions for people and our climate.
A big thank you to all the buyers of high-integrity carbon credits from across Solomon Islands, Fiji and Vanuatu.
