A round table discussion in the City of Gödöllő, between Pieter van Midwould, (Director Business Development Use & Forests, Gold Standard Foundation) and Csaba Gyuricza, (PhD, Dean Faculty of Agricultural and Environmental Sciences, Szent István University, Hungary) has resulted in identifying an opportunity for agricultural systems in Hungary to be certified and issued with voluntary carbon credits for the very first time. Once implemented, the agricultural pilot project is expected to deliver a one-million tonnes reduction in carbon emissions, thus supporting the application of climate-friendly technologies in hundreds of Hungarian farms for many years to come.
Mr. Pieter van Midwoud, visited Hungary at the end of April to engage in discussions with the parties involved in a Hungarian project titled “Mitigation of agricultural emissions with partial change of nitrogen fertilizer utilization and cultivations change”. The talks focused on both this specific project and, more broadly, the development of The Gold Standard’s Climate Smart Agricultural (CSA) methodologies for issuing carbon credits generated in the agricultural sector. Among those attending the discussion and taking part in visits to companies involved in the project were: Mr. Róbert Riba, CEO First Hungarian Carbon Management Ltd. (in Hungarian: Első Magyar Karbongazdálkodási Kft.), Csaba Fogarassy, PhD, at Szent István University of Gödöllő, Hungary who worked out the professional background for the program and Mr. Péter Gáspár, CEO Carbon Solutions Global Ltd., a company involved in international carbon market sales.
As a result of discussions it has been agreed that the Hungarian project will be a key pilot project under The Gold Standard’s Climate Smart Agriculture Programme.
Parties will commence development of the methodology in August, with the first issuance of Gold Standard carbon credits from the project expected in 2014. The Gold Standard Foundation may also validate all credits issued in the past 2 years, retrospectively, meaning that the total emission reduction volume from the pilot project is recognized.
The Hungarian project is unique as it has almost one-million tonnes CO2e emissions mitigation capacity which would generate real financial return for participating farms in the form of carbon credits, offering an opportunity to start the development of climate-friendly production systems, which meet the challenges posed by climate change.