Sandeep Roy Choudhury

Sometimes these credits, the markets usually, and I hear this a lot, it's a scam.

And I get it, because there have been some high-profile failures about carbon markets that you might have heard about, and I get it.

But not all projects are failures, and not all failures are the end of the story.

Let me talk about one of my failures.

The same.

Mangroves we planted in Indonesia, out of those, in one area of Sumatra, there was this massive flood in the fall of 2024.

Those wall of mangroves disappeared.

The floods came in, took all those trees.

Does that mean all those carbon credits that we claimed for the projects were bogus?

No.

because we account for these risks.

In any carbon standards and methodologies, we have things like dispersed planting, risk management and buffers.

Buffers is an important concept.

Every project keeps aside about 15 to 20 percent of carbon credits for exactly this reason.

So the credit and the claim stands.

This is important because most of climate action will happen in places where the risk is high.

That's the way it should be done.

But yes, we recognize these risks, and we account for these risks every time we develop these projects.

And this is not just for us.

Most carbon projects would have to do that.