With three new restoration sites and six expanded projects, the Priceless Planet Coalition advances its global efforts towards its goal of funding the restoration of 100 million trees.
Mastercard
NORTHAMPTON, MA / ACCESSWIRE / October 23, 2024 / Together with partners Conservation International and the World Resources Institute, Mastercard is expanding the Priceless Planet Coalition's global portfolio of restoration sites. The Coalition, comprised of over 150 corporate and financial institution partners, is introducing three new restoration sites and expanding six existing projects, increasing investment in areas that have significant potential for positive global impact. This development brings the total number of Priceless Planet Coalition's restoration projects to 22, further solidifying its dedication to restoring vital ecosystems worldwide.
This expansion is a crucial step towards the coalition's goal of funding the restoration of 100 million trees. The addition of these new sites and the enhancement of current projects underscore the coalition's continuous efforts to maximize benefits on climate, communities, and biodiversity.
The project portfolio of the Priceless Planet Coalition includes diverse geographical representation in the following locations: Asia Pacific (Australia, Cambodia, China, the Philippines, India, and now Thailand as well); Latin America (Brazil, Colombia, Guatemala, and now including High Andes restoration sites in Ecuador and Peru); Europe (France, Portugal, Spain, Scotland); Middle East & Africa (Madagascar, Democratic Republic of Congo, Kenya, Malawi, United Arab Emirates); and North America (Mexico, United States, Canada).
New Restoration Sites
The three new sites have been chosen based on their potential for strong positive impacts on climate, biodiversity, and local communities. This expansion reflects the coalition's approach to selecting locations that have strong implementation partners and socially and ecologically appropriate restoration strategies.
One of the new sites is in the High Andes, where coordinating organizations Global Forest Generation (GFG) and Asociación de Ecosistemas Andinos (ECOAN) are powering an ambitious restoration initiative, Acción Andina. This initiative will help protect and restore native forest ecosystems across the Andes, including Ecuador and Peru. These ecosystems act as the water towers of South America by absorbing and redistributing moisture and glacial meltwater to feed streams, rivers, and major metropolitan areas, all the way to the Amazon. The absence of healthy, native forests leads to detrimental drought and flood cycles, endangering local economies and prompting migration to urban centers. Acción Andina is committed to working with local communities to restore these ecosystems by planting and restoring trees. In tandem with restoration efforts, the initiative includes community engagement activities such as building water catchment systems, wells, and reservoirs, conducting forest fire prevention and management trainings; distributing clean cookstoves; providing livestock management support; developing irrigation and water infrastructure; and offering literacy programs.
"Acción Andina has already planted millions of trees in the high Andes and involved tens of thousands of local people to bring back native forests and water for the continent. We are on a mission to grow this locally-led initiative into a global movement, involving diverse communities, cultures, and sectors all united to protect and restore vital ecosystems for decades to come," says Florent Kaiser, Global Forest Generation CEO and Acción Andina co-lead. "The Priceless Planet Coalition is an essential partner that will help us take continued action towards creating resilient communities and landscapes in this century of change."
Across the globe in the Eastern Himalayas of India, 210 hectares of forest will be restored in partnership with ATREE . According to Conservation International, the Eastern Himalayan region is extraordinarily rich in biodiversity, containing one-twelfth of all species on the planet, while also supporting the livelihoods and survival of nearly a billion people who depend on its natural resources. With over 200 indigenous groups, this region serves as a critical water source to millions both upstream and downstream and is home to species such as the Indian elephant, Bengal tiger, and snow leopard. Despite its ecological importance, this region ranks among the most climate-vulnerable globally. Since 2000, it has lost 9.5% of its green cover, and in 2022 alone, 1.5 million people lost their homes to extreme weather events. The Priceless Planet Coalition's work to fund restoration in the Eastern Himalaya will aim to support the restoration of the region's biodiversity, while mitigating climate change and supporting the local communities.
"Co-identifying and co-designing restoration activities with relevant stakeholders in the region will be the primary focus of our work. Biodiversity and ecosystems are inextricably linked with the wellbeing of the people in the Eastern Himalaya and landscape/ecosystem restoration is key to building resilience for nature and people," adds Sarala Khaling of ATREE.
In Thailand, a significant new project is underway within Kaeng Krachan National Park. This initiative aims to restore monoculture agriculture areas and other degraded zones, while also safeguarding conservation areas in community-managed sections of the National Park. By restoring trees and the overall ecosystem, the project will enhance biodiversity and provide benefits to both wildlife and local communities. Covering 165 hectares, this restoration effort will focus on supporting the diverse forest types found within the National Park and the flora and fauna vital to the local ecosystem.
"We are thrilled to embark on this Forest Landscape Restoration project in Kaeng Krachan National Park, a UNESCO World Heritage Site renowned for its exceptional biodiversity. The National Park provides habitat for many endemic and endangered plant and wildlife species, such as Asian elephants, leopards, gaurs and Great Hornbills, and has long been home to local communities and ethnic groups," explains Jake Brunner, IUCN Head of Lower Mekong Sub-Region. "Collaboration will be essential to the success of this project. IUCN will work closely with The Department of National Park, Wildlife and Plant Conservation of the Government of Thailand and local communities, combining cutting-edge science and traditional ecological knowledge to restore degraded areas through approaches such as enrichment planting, community-based agroforestry and riparian rehabilitation."
Expansion of Existing Projects
The coalition is expanding investment in six of its 19 existing sites across Madagascar, Brazil, Mexico, Colombia, Democratic Republic of Congo, and Malawi. This strategic expansion will build on the coalition's existing partnership, knowledge and learnings, increasing the scope of impact, providing additional funding to maximize climate, biodiversity, and community benefits in these regions. In Colombia, for example, the Musesi restoration project in the Sierra Nevada de Santa Marta mountains in partnership with the Colombia Ministry of the Environment is supporting the Indigenous Arhuaco people to restore their sacred lands, ensuring that the project aligns with their cultural and environmental values. According to Conservation International, over 429 Arhuaco families from 14 communities have participated in growing and planting more than 700,000 trees, restoring almost 2,500 acres of land across three watersheds. The community-based approach has fostered technical skills and increased capacity for future restoration efforts. This initiative not only contributes to national and global climate objectives but also strengthens the governance of the Arhuaco community, helping them reclaim their ancestral territory.
Building on this success, further investment from the Priceless Planet Coalition will allow the Musesi project to restore an additional 2.5 million trees, covering an additional 4,500 acres and ultimately aiming to capture an estimated 64,140 tonnes of CO2, according to Conservation International.
Uniting in climate action
The Priceless Planet Coalition, launched by Mastercard with Conservation International and World Resources Institute, unites individuals, businesses and corporate partners in taking climate action by funding the restoration of 100 million trees. The coalition includes more than 150 partners globally, each contributing to funding forest restoration through various donation campaigns, which may include encouraging consumers to donate at points of sale, allowing consumers to use loyalty points linked to payment cards to support tree restoration, or making donations to executing charities of the PPC after consumers engage in certain activities, such as agreeing to receive paperless statements or when making the purchase of specific products.
As of 2023, the Priceless Planet Coalition has grown to over 150 members who have helped support the planting of millions of trees and more than 600 plant species and create 1.2 million workdays for people around the world.
"The impact that the Priceless Planet Coalition has made since its inception is a demonstration of the power of partnerships, of collaboration between non-profits, scientific experts, businesses, consumers, and local communities," says Mastercard Chief Sustainability Officer Ellen Jackowski. "Through this expansion, the coalition is doubling down and enhancing our investment in the places where we are maximizing benefits and achieving lasting impacts on climate, biodiversity, and communities."
The coalition's approach integrates scientific expertise, local community involvement, and strategic partnerships to ensure the success and longevity of its restoration initiatives. Each project employs the Tree Restoration Monitoring Framework, which tracks and measures factors such as ecosystem integrity, socio-economic impact, carbon sequestration estimation, and the number of trees that have been fully restored with 5-year monitoring.
To learn more about the Priceless Planet Coalition, visit here.
About Mastercard (NYSE: MA)
Mastercard is a global technology company in the payments industry. Our mission is to connect and power an inclusive, digital economy that benefits everyone, everywhere by making transactions safe, simple, smart and accessible. Using secure data and networks, partnerships and passion, our innovations and solutions help individuals, financial institutions, governments and businesses realize their greatest potential. With connections across more than 210 countries and territories, we are building a sustainable world that unlocks priceless possibilities for all.
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