Show notes
In this episode of The Think Wildlife Podcast, we dive into the dynamic intersection of conservation, climate finance, and community-driven solutions with Mike Korchinsky, the founder and president of Wildlife Works. Our conversation explores how market-based mechanisms such as carbon credits and REDD+ (Reducing Emissions from Deforestation and Forest Degradation) are revolutionizing the way we approach wildlife conservation, forest protection, and sustainable development.Understanding the Role of Carbon Credits in ConservationOver the last few years, there has been a growing global interest in financing climate solutions through mechanisms like biodiversity credits and carbon credits. These financial instruments incentivize forest communities and landowners to preserve ecosystems by providing an economic value to keeping forests intact. Wildlife Works is at the forefront of this movement, pioneering economic models that directly benefit local communities while safeguarding biodiversity.But how do carbon credits work?Mike breaks down the fundamental principles of carbon credits, explaining how they are measured, issued, and traded in the voluntary carbon market. He highlights that one of Wildlife Works' major successes is its ability to convert conservation into a sustainable livelihood for communities that would otherwise be forced to engage in activities like logging or slash-and-burn agriculture.Wildlife Works: A Market-Based Conservation ModelMike takes us through his personal journey into conservation, tracing his early fascination with wildlife, particularly elephants, and how his first visit to Africa in the mid-1990s exposed him to the pressing conflict between human development and wildlife protection. Recognizing that traditional conservation models were insufficient, he founded Wildlife Works in 1998 with the belief that economic incentives could be a game-changer in protecting endangered ecosystems.One of the most remarkable aspects of Wildlife Works’ approach is its focus on empowering communities. Unlike conventional conservation projects that might impose restrictions on local populations, Wildlife Works ensures that indigenous and rural communities are active participants in shaping conservation solutions that also serve their long-term social and economic interests.The REDD+ Framework and Its ImpactThe REDD+ (Reducing Emissions from Deforestation and Degradation) framework, developed by the United Nations, is a key mechanism in global conservation efforts. REDD+ projects aim to reduce carbon emissions by offering financial incentives to governments, communities, and private sector actors who take action to preserve forests.Wildlife Works has been a pioneering force in REDD+ implementation, with projects spanning Africa, South America, and Asia. Their Kenyan project, launched in 2011, was the first of its kind to be issued carbon credits under the VERRA standard. From there, Wildlife Works expanded into the Democratic Republic of the Congo (DRC), Colombia, Brazil, India, Indonesia, and more—focusing on regions with high biodiversity and intense deforestation pressures.But what does a REDD+ project look like on the ground?According to Mike, a successful REDD+ project integrates:* Community consultation and governance, ensuring that local people benefit from conservation efforts.* Biodiversity monitoring, safeguarding endangered species.* Sustainable livelihoods, such as eco-businesses, agroforestry, and handicrafts that reduce dependence on forest destruction.* Infrastructure development, including schools, healthcare facilities, and renewable energy projects.Addressing Criticism of Carbon CreditsDespite their potential, carbon credits and REDD+ projects have faced criticism. Some argue that carbon markets allow corporations to "greenwash" their emissions rather than actively reducing them. Others worry about the transparency and legitimacy of carbon credit verification.Mike acknowledges these concerns and explains how Wildlife Works ensures high-integrity projects by:* Adhering to Free, Prior, and Informed Consent (FPIC) principles, ensuring that indigenous communities voluntarily agree to projects.* Implementing safeguards to prevent "leakage", where deforestation might simply shift to another location.* Prioritizing permanence, making sure that conservation gains last for decades, not just a few years.* Working with independent third-party verifiers to validate carbon reductions.He also highlights that while bad actors have existed in the carbon market, the majority of REDD+ projects—especially those focused on nature-based solutions—are genuine, impactful, and community-driven.Wildlife Works’ Global ImpactWith over two decades of experience, Wildlife Works has expanded its footprint across multiple continents, targeting some of the world’s most at-risk forests. Their projects are currently active in:* Kenya: The birthplace of Wildlife Works’ conservation model, protecting vital wildlife corridors.* Democratic Republic of the Congo (DRC): Home to the second-largest tropical rainforest on Earth.* Colombia: Partnering with indigenous and Afro-Colombian communities to conserve Amazonian and coastal forests.* Indonesia & Cambodia: Addressing deforestation from palm oil plantations and illegal logging.* Brazil: Protecting the Amazon, which remains the largest and most endangered rainforest globally.* Solomon Islands: Providing sustainable alternatives to illegal timber logging.Each of these projects is tailored to the local socio-economic and ecological context, ensuring that conservation solutions are equitable and effective.The Role of Eco-Businesses in ConservationBeyond carbon credits, Wildlife Works also supports eco-business ventures that offer alternative livelihoods to local communities. This includes:* Handicrafts and sustainable fashion, where traditional artisans can sell their products to global markets.* Agroforestry and regenerative farming, ensuring that agricultural practices do not harm the surrounding ecosystems.* Renewable energy initiatives, reducing reliance on deforestation-driven fuel sources.These initiatives ensure that conservation efforts are not just about preserving trees but also about empowering people to create self-sustaining economies.Challenges and the Future of Conservation FinanceMike reflects on the major challenges faced in the conservation sector:* Instability in the carbon market, with fluctuating prices affecting long-term project planning.* Misinformation and skepticism about carbon credits, often fueled by ideological opposition to market-driven solutions.* The need for greater corporate engagement, as voluntary carbon markets remain underutilized by businesses.* Competing conservation agendas, where NGOs and activists sometimes work against each other rather than collaborating for the greater good.Despite these challenges, the urgency of deforestation and biodiversity loss means that market-based solutions must scale rapidly. Mike emphasizes that the next decade is critical in turning the tide against environmental destruction.How Individuals Can Support Wildlife WorksFor listeners wondering how they can make an impact, Mike suggests:* Purchasing carbon credits from Wildlife Works, offsetting personal emissions while supporting conservation.* Buying eco-friendly products from Wildlife Works-affiliated businesses.* Spreading awareness about the benefits of nature-based solutions and REDD+ projects.* Advocating for stronger corporate commitments to conservation finance.As we wrap up the episode, it’s clear that carbon credits and conservation finance are more than just buzzwords—they are essential tools in the fight to protect our planet’s most precious ecosystems.For more information, visit Wildlife Works’ website and explore their various conservation and eco-business initiatives. Let’s take action to support climate-positive solutions and ensure a sustainable future for forests, wildlife, and communities worldwide.Subscribe to The Think Wildlife Podcast for more insightful discussions on conservation, sustainability, and environmental innovation. See you next Monday!Meet the HostAnish Banerjee: https://x.com/anishwildlifeThink Wildlife Foundation: https://thinkwildlifefoundation.com/Meet the GuestsMike Korchinsky: https://www.linkedin.com/in/mike-korchinsky-4b1242Wildlife Works: https://www.wildlifeworks.com/Recommended Wildlife Conservation BooksWildlife Conservation in India by HS Pabla: https://amzn.to/3Ypx9ZhIndian Mammals: A Field Guide by Vivek Menon: https://amzn.to/4fhMiCLAt the Feet of Living Things by Aparajita Datta: https://amzn.to/3BZmtsN Get full access to The Think Wildlife Podcast at anishbanerjee.substack.com/subscribe