VW and project developer Permian Global have signed an agreement to create climate protection projects. With the support of Permian Global, VW will begin developing climate protection projects to protect tropical forests in the second half of 2020.

Following successful verification, the avoided deforestation and restoration of endangered forests will lock away carbon and deliver carbon credits that will be used to compensate for CO2 emissions from the supply chain, production and logistics of vehicle, as long as these CO2 emissions cannot be avoided and renewable energies cannot be used currently.

Under the terms of the agreement, the two companies will initially develop projects on a total area of one million hectares, ten times the size of Berlin, in South America and Asia. The projects will have multiple benefits: protection and restoration of threatened tropical forests; local communities will benefit in the long-term through sustainable alternatives to deforestation; biodiversity will be preserved and; at the same time a contribution will be made to overcoming the climate crisis.

The projects will also support achieving the UNSDGs projects and will be independently audited and certified, in particular, the Verified Carbon Standard (VCS) and the Climate Community and Biodiversity Standard (CCB) or Gold Standard.

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