Situation
Amazon + deforestation = Earth’s lungs on life support #itstime
The Amazon is estimated to produce up to 20% of the oxygen in the Earth’s atmosphere, playing a vital role in keeping the atmosphere’s carbon-dioxide levels in check.¹ It’s home to one in ten known species on Earth² and millions of people who depend directly on the forests for their livelihoods.
The Amazon is a key component of our planet’s life support and spans a vast region of South America, including Peru. In Peru, roughly 1,100 square miles of forest are cut down every year and around 80% illegally.³ This is equivalent to roughly 700,000 soccer fields of rainforest lost to deforestation and degradation each year. Due to increasing deforestation, the Amazon is probably heading for a tipping point, which may cause the entire system to collapse.⁴ To preserve this unique and mega-diverse ecosystem, it is not only necessary to protect existing forests, but also to reverse deforestation by turning pastures back into forests.
Image source: Panguana Foundation
Panguana was founded in 1968 by German zoologists and is the oldest biological research station in Peru, located at the foothill of the El Sira mountain range east to the Andes. The aim of the Panguana project is to study, protect and preserve the unique ecosystem of the Amazonian rainforest. In 2014, the Panguana Foundation was established to preserve the different projects and their implementation permanently. Panguana comprises nearly 1,600 hectares of protected land mainly covered by primary forests, making it ideal for scientific studies, documentation of biodiversity and raising awareness of endangered habitat and ecosystems due to climate and land-use change.⁵
PwC Germany has collaborated with the Panguana Foundation in the hope that together they can help establish a sustainable future for the Foundation.
"The ecological problems we face today, we cannot solve alone. We strongly believe in our cooperation with the Panguana Foundation and their holistic approach commiting to scientific research of the rainforest, devoted nature, biodiversity and ecosystem protection and upright social engagement. PwC Germany is pleased to support Panguana financially and in helping them to obtain recognition from the Verified Carbon Standard."
Experience
Turning abandoned pastures into carbon credits #bethesolution
In 2019 an official collaboration was formed to support the Foundation on a pro bono project ‘Experimental regeneration of diverse forests on abandoned pastures in Panguana’. This project was designed to help Panguana to achieve an official registration and certification according to the Verified Carbon Standard (VCS)⁶.
The challenge was to help the Panguana Foundation find the best possible approach to local reforestation. In addition, other sustainable land use and local food production methods such as permaculture and aquaponic approaches were tested as further ways to enhance restoration and protection. A VCS certification would deliver financial compensation by being part of a global carbon market where individuals and corporations can purchase credits from the emission reductions generated by it to help neutralise or offset their own emissions. In turn, Panguana will be able to continue their valuable work for conversation and expand their efforts to restore rainforests in a biologically diverse and sustainable way.
PwC Germany put together a team of professionals to assist the Panguana Foundation on this pro bono project and worked with the Foundation to set up the systems and processes that will not only help the Foundation meet the requirements now, but for continuous certification. PwC Germany strongly believes there is an urgent need to promote the unique biodiversity and related ecosystem services of the rainforest with an integrated holistic approach.
"Without PwC Germany's expertise and commitment, submitting a reforestation project under the Verified Carbon Standard would not be possible for us. We especially enjoy the regular exchange and the joint project development with the team that helps us move forward."
Impact
Building community engagement, creating sustained ecological preservation. #togetherwesolve
Through PwC Germany’s support, the Panguana Foundation has begun its certification pipeline with the Verified Carbon Standard (VCS). This includes the Foundation being able to prepare the documents needed and helps to establish high quality compliance with VCS requirements.
There is still a lot to be done before the project has gone through all the certification steps, however once this is verified and registered, PwC Germany’s support in this project will help enable the Foundation to continue their commitment to conservation, research, climate protection and their educational mission to awaken a greater sense of responsibility for the environment and climate protection among the youth.
In 2020, PwC Germany also donated €40,000 to the Panguana Foundation as part of its yearly donation to help support the preservation of the endangered rainforest adjacent to the Panguana Foundation research station.
¹Why amazon rainforest is important life support is burning, Business Insider Australia website
²Amazon Facts, WorldWildLife website
³Deforestation in Peru, WorldWildLife website
⁴Boers et al. 2017: A deforestation-induced tipping point for the South American monsoon system
⁵Panguana Foundation website. About us.
⁶Verra website. Verified Carbon Standard Programme.
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Colm Kelly
Global Corporate Sustainability Leader, PricewaterhouseCoopers International Limited
Global Corporate Sustainability Managing Director, PricewaterhouseCoopers International Limited