An interactive mapping software that will support the prospecting, development and management of nature-based carbon credit projects worldwide was launched on 22 September at the World Economic Forum - Champions for Nature event in New York during Climate Week NYC 2022.
An interactive mapping software that will support the prospecting, development and management of nature-based carbon credit projects worldwide was launched on 22 September at the World Economic Forum - Champions for Nature event in New York during Climate Week NYC 2022. The open-access platform (http://carbonprospecting.org), dubbed the Carbon Prospecting Dashboard, was jointly developed by the Centre for Nature-based Climate Solutions (CNCS), a research centre under the National University of Singapore (NUS) Faculty of Science, and ST Engineering’s satellite data and geospatial analytics business, ST Engineering Geo-Insights.
This first-of-its-kind dashboard supports the preservation of carbon-rich, natural ecosystems, such as tropical forests and mangroves, by helping policymakers and investors identify where nature-based projects can be developed as potential sources of high-quality carbon credits. The platform enables users to calculate the estimated yield of carbon credits and their financial return-on-investment, based on user-defined assumptions such as project duration, costs and carbon prices.
The platform also allows users to quantify the other positive benefits of projects, such as improving food security, ensuring clean water supply, and conserving key biodiversity areas. Information on such co-benefits can help increase the price transparency of carbon credits, and the search for high-quality carbon offsets.
Read more at: National University of Singapore
NUS Professor Koh Lian Pin (right) and his research team collaborated with ST Engineering Geo-Insights to develop the Carbon Prospecting Dashboard. The dashboard pictured in the screens helps policymakers and investors identify the location of nature-based projects, and calculate the estimated yield of carbon credits and return-on-investment and quantify the co-benefits of the projects. (Photo Credit: National University of Singapore)
