Verra has approved its first government-led provincial forest carbon program under the Verified Carbon Standard (VCS) Jurisdictional and Nested REDD+ (JNR) Framework, marking a significant milestone for jurisdictional carbon markets. The certification gives Argentina’s Province of Misiones a new pathway to access international climate finance while protecting one of the country’s most important forest ecosystems.
The program covers approximately 3 million hectares of native Atlantic Forest and generated about 13.1 million tonnes of verified carbon dioxide emissions reductions between 2017 and 2022.
Key Overview
- Verra approved its first government-led provincial forest carbon program
- The project is located in Argentina’s Province of Misiones
- It covers about 3 million hectares of native Atlantic Forest
- The program generated 13.1 million tCO₂e in verified emissions reductions
- Credits were generated between 2017 and 2022
- Misiones is the first program certified under Scenario 2 of Verra’s JNR Framework
- The certification opens a new route to international climate finance
Argentina Province Brings Forest Carbon Program to Market
Verra has certified its first government-led forest carbon program at the provincial level, giving Argentina’s Province of Misiones a new route into international carbon markets and climate finance.
The program is registered under Verra’s Verified Carbon Standard Jurisdictional and Nested REDD+ Framework and covers approximately 3 million hectares of native Atlantic Forest in northeastern Argentina. The region contains one of the country’s most significant remaining forest ecosystems and plays a critical role in biodiversity conservation and carbon storage.
Over its first six-year crediting period, from 2017 to 2022, the program generated approximately 13.1 million tCO₂e equivalent emissions reductions. Those credits are now linked to a broader public policy framework that places forest conservation at the center of provincial governance.
A New Model for Carbon Markets
The certification places Misiones at the forefront of a growing shift in global carbon markets. Rather than relying solely on individual forest projects, governments are increasingly exploring jurisdictional programs that account for emissions reductions across entire provinces, states, or regions.
The Misiones program operates under Scenario 2 of Verra’s Jurisdictional and Nested REDD+ Framework. This approach allows governments to generate carbon credits from forest areas that are not already covered by individual carbon projects. It also requires projects operating within the jurisdiction to align with the government-led program and use approved jurisdictional baselines.
The objective is to improve accounting standards, reduce the risk of overlapping claims, and strengthen confidence in carbon market integrity.
Misiones is the first program globally to achieve certification through this pathway.
Governments Take a Larger Role
The approval reflects a broader trend toward giving governments a stronger role in forest carbon programs.
Project-level carbon credits have faced growing scrutiny in recent years over issues such as baseline calculations, additionality, leakage, and benefit-sharing arrangements. Jurisdictional programs are designed to address some of these concerns by linking carbon credits to wider public policy systems and regional conservation strategies.
Under this model, provincial authorities can align forest protection efforts with land-use planning, enforcement mechanisms, community development initiatives, and long-term climate finance strategies.
Verra CEO Mandy Rambharos described the certification as evidence of what governments can achieve when climate policy and carbon markets work together.
“This program shows what’s possible when governments lead on climate. Misiones built the institutions, the policies, and the partnerships needed to protect its forests and bring the results of that work to market,” Rambharos said.
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Forest Protection as Public Policy
The Government of Misiones has long positioned rainforest protection as a core state policy.
Adolfo Safran, Minister of Finance, Treasury, Public Works and Public Services for the Province of Misiones, said the certification represents an important milestone in conservation efforts that have been built over decades.
“We celebrate having reached such an important milestone in conservation. The Province of Misiones has always made the protection of the rainforest a state policy,” Safran said.
He added that the program’s benefit-sharing mechanism is intended to return value to local communities that have contributed to protecting the forest over many years.
Safran also invited investors interested in high-quality carbon credits to participate in the initiative as the province expands its presence in international carbon markets.
Implications for Global Carbon Markets
The certification is expected to encourage the development of additional jurisdictional programs under Verra’s JNR Framework across Latin America, Africa, and Asia. Many governments are exploring ways to connect forest conservation efforts with climate finance while strengthening environmental governance.
Supporters argue that jurisdictional approaches can create larger-scale environmental benefits by integrating conservation objectives across entire regions rather than focusing on isolated project areas.
The Misiones program may now serve as a replicable model for national and subnational governments seeking to align climate policy, forest conservation, and access to international carbon markets.
Outlook
Verra’s certification of the Misiones program marks a major milestone for jurisdictional carbon markets and government-led climate action. With 13.1 million tonnes of verified emissions reductions generated across 3 million hectares of Atlantic Forest, the initiative demonstrates how provincial governments can participate directly in international carbon markets while advancing broader conservation goals.
As countries seek scalable approaches to climate finance and forest protection, the Misiones model could become an important reference point for future jurisdictional REDD+ programs around the world.
Sources: ESG News, Carbon Herald, VERRA
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