Volkswagen starts climate projects for carbon compensation

The Volkswagen Group and project developer Permian Global have signed a Joint Development Agreement to create climate protection projects.

With the support of Permian Global, the Volkswagen Group 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 Volkswagen Groups' vehicles, 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, 10 times the size of Berlin, in South America and Asia. The projects will have multiple benefits, including the protection and restoration of threatened tropical forests, while 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. All projects will be independently audited and certified according to the highest standards, in particular the Verified Carbon Standard and the Climate Community and Biodiversity Standard or Gold Standard.