Leveraging approximately 30,000 ha of rice paddy potential in Bulacan Province.
Green Carbon, Inc. (CEO: Jun Okita, hereinafter referred to as “Green Carbon”) is pleased to announce that it has signed an MOA for the development of a rice paddy project in *¹Bulacan Province, Northern Luzon, Philippines, utilizing the Joint Crediting Mechanism (JCM). Starting with approximately 800 hectares set to begin in 2024, Green Carbon aims to expand the project to around 30,000 hectares by 2030.
〇Philippines Bulacan Provincial Government Press Release
https://bulacan.gov.ph/photo-release-moa-for-green-carbon-project/
◆Background of the MOA with Bulacan Province
Green Carbon is dedicated to creating nature-based carbon credits primarily in Southeast Asia. Our initiatives include a wide range of projects such as forest conservation, rice paddy management, mangrove reforestation, reducing methane emissions from cattle, and biochar projects.
The Philippines emits approximately 60 million tons of CO2e in greenhouse gases from agricultural sources annually, with a target to reduce this by 75%, amounting to 45 million tons of CO2e by 2030. Meanwhile, it is estimated that mitigating methane emissions from rice paddies across the Philippines could potentially contribute to about 24.05 million tons of CO2 reduction, which represents half of the reduction target. In the Philippines, we are primarily focusing on rice paddy projects, and starting in 2023, we will collaborate with the University of the Philippines to implement a methane reduction project through the introduction of *²AWD (Alternate Wetting and Drying).
In this MOA, we have reached an agreement to collaborate on expanding the AWD project in Bulacan Province. The Bulacan Provincial Government will provide comprehensive support, including promoting the AWD project to farmers and offering training assistance. Green Carbon will offer comprehensive support from project management to the creation of carbon credits. With the support of Bulacan Province, Green Carbon aims to expand the project from approximately 800 hectares in 2024 to around 30,000 hectares by 2030.
(Second from the left: Governor Daniel R. Fernando, Far right: COO Takato Senoo)
*¹：Bulacan Province
Bulacan is a major agricultural region located in the central part of Luzon Island in the Philippines, particularly known for its rice production. Its proximity to the capital, Manila, plays a crucial role in the country’s food supply. The fertile soil and abundant water resources in Bulacan provide optimal conditions for rice cultivation, with many farmers in the province able to harvest rice twice a year.
The province has also developed irrigation systems that enable stable rice production during both the rainy and dry seasons. Notably, there is a growing number of farmers focusing on sustainable agriculture, investing in efficient irrigation technologies and improving water resource management. In addition to rice, corn and various vegetables are also cultivated, making Bulacan known as a diverse source of agricultural products.
*²：AWD（Alternate Wetting & Drying）
AWD is a technique that involves periodically flooding and naturally drying paddy fields based on the water level. Compared to continuous flooding, AWD can reduce water usage and contribute to the conservation of water resources.
◆Green Carbon, Inc.
Representative : CEO Jun Okita
Address : Isal AKASAKA607, 5-2-33, Akasaka, Minato-Ku, Tokyo, Japan
Founded : December 2019
Business Operations : Creation and Selling of Carbon Credits, Agricultural Business, Environmental Business, Businesses related to Environmental Consulting, and others.
URL : https://green-carbon.co.jp/
◆Introduction of Green Carbon, Inc.
Green Carbon operates with the vision of “Saving the Earth with the Power of Life,” providing comprehensive support from carbon credit creation, and registration, to sales. Additionally, we are involved in agriculture-related businesses, research and development, and ESG consulting, among others. Our main focus is on the generation carbon credits through methane gas reduction in rice paddies, where we have obtained certification for J-Credits, the first and largest in Japan (approximately 6,220 tons), and plan to expand to around 50,000 hectares in the fiscal year 2024. We also offer a service called “Agreen” that integrates credit registration, application, and sales into one platform, simplifying procedures such as application registration and document preparation, thus reducing the workload for credit creators.
◆GREEN CARBON JAPAN VIETNAM COMPANY LIMITED
Abbreviation : GREEN CARBON JAPAN VIETNAM CO,. LTD
Representative ：Jun Okita, CEO
Location ：10th Floor, The Nexus Building, 34-3B Ton Duc Thang, Ben Nghe Ward, District 1, Ho Chi Minh City, Vietnam
Establishment ：August, 2024
Business ：Carbon Credit Generation and Sales Business, Agriculture-related Business