Carbon finance should deliver tangible socio-economic benefits, especially for projects based in the Global South, Manning said.
One of Cool Effect’s core requirements is that project developers have a clear and documented plan for how revenue from credit sales will be used, particularly before funds are disbursed. “We like to see that project developers have a plan for how the money will be distributed and used prior to the money arriving, so that we can understand how it will be spent,” she said. “And then we go and we check.”