The Hyundai Climate Grant program is an innovative component of the Genesis Forest Project. In addition to financing the development and implementation of the Genesis Forest in Brazil, Hyundai awarded three $35,000 grants to project developers to help projects meet the Climate, Community & Biodiversity (CCB) Standards.
A major obstacle to the creation of new high-quality, multiple-benefit forest carbon projects is the up-front cost of project design and validation. Hyundai sought to facilitate the establishment of new projects by easing the associated cost burden by awarding grants to three projects. Hyundai’s leadership role will therefore make it even easier for other companies to follow its lead by supporting the implementation of high-quality forest projects.
The response to the HMA Climate Grant opportunity was enormous. By March of 2009 the HMA Climate Grant Committee reviewed all applications. Through an extensive process and difficult discussions the committee chose three projects.
We would like to recognize and thank all the applicants for their great work, and we would like to congratulate the following three projects as awardees of the HMA Climate Grants:
* The Alto Mayo Forest Project, Peru
* The Nhambita Community Carbon Project, Mozambique
* Kakamega Forest Again Project, Kenya
We look forward to following their progress.