Paracel project verifies over 190,000 tonnes of carbon credits in Paraguay
The Paracel forestry and conservation project in Paraguay, backed by Trafigura, verified its first 190,000 tonnes of carbon removal credits. These credits are among the first globally to be verified under Verra’s updated VM0047 methodology for Afforestation, Reforestation, and Revegetation. The project has planted 87,000 hectares and is projected to generate over 23 million tonnes of carbon removals over its lifespan, allocating 40% of its area to biodiversity conservation. This milestone positions the project for emerging international compliance channels as Paraguay develops its Article 6 framework.
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