October 24th: 9am - 10am EDT (New York City)
In 2010, the RSPO began to develop a compensation mechanism for companies that have cleared land prior to the conduct of an HCV mechanism. The mechanism sought to close loopholes within the certification system, whilst addressing the need to remediate past actions in a pragmatic and practical way. The RSPO began to implement the resulting and finalised Remediation and Compensation Procedures (RaCPs) in 2016. Since then, RSPO companies have been looking to identify suitable projects to compensate.
The Sustainable Commodities Compensation Mechanism, developed as a joint venture between Daemeter Consulting and Forest Carbon, seeks to utilise the RSPO compensation mechanism to develop a proof of concept for market-based financing of conservation projects. Its aim is to build upon the RaCPs to create a robust system which supports the RSPO in delivering company compliance efficiently, de-risks the compensation mechanism for companies, and transparently delivers conservation outcomes at scale on the ground.
The SCCM, to be officially launched in November 2017, is however designed not only to produce other benefits of compensation financing, but aims to also extend its application across other sectors and other sustainability commitments designed to produce conservation benefits. Our presentation will provide the context of the first focus, the RSPO RaCP, showcase the SCCM model, and provide suggestions for further expansion of scope.
For more information on Lestari Capital please see their website.
A factsheet on Lestari Capital is also available for download.
Michal Zrust is the Southeast Asia Regional Manager at Daemeter Consulting, and the co-Founder and Chief Technical Officer at Lestari Capital. Michal’s background is wildlife conservation, with over 10 years of experience of conservation project management across Asia, Africa, and Latin America. Since 2011, Michal has been involved with the oil palm industry, first as the Global Palm Oil Technical Advisor at The Zoological Society of London, based in Indonesia, and now within Daemeter. His expertise includes management and monitoring of High Conservation Values in oil palm landscapes; supply chain traceability implementation; implementation of no deforestation and other sustainability commitments; certification standard development; and implementation of landscape-level sustainability approaches. At the Roundtable on Sustainable Palm Oil (RSPO), he maintains technical advisory seats at the Biodiversity and High Conservation Value Working Group, and the Compensation Task Force, and was a member of the RSPO Board of Governors as an NGO representative. He now continues his work at Daemeter, and is focused on the development of Lestari Capital and the Sustainable Commodities Compensation Mechanism.