'Nature-Based Solutions' is a technical term that simply describes an action that results in either avoided deforestation or enhancing a carbon sink through reforestation or ecosystem restoration.

According to analysis by the World Economic Forum and McKinsey, Nature-Based Solutions are a cost-effective means to deliver up to one-third of the emissions reduction needed by 2030 as part of the net zero transition to achieve a 2-degree pathway.

Moreover, investment in Nature-Based Solutions, when done well, can accrue co-benefits that help address other societal challenges while being good for business, people, and nature. However, when done badly, the investment may do more harm than good.

veritree works with planting organizations across the globe to verify Nature-based Solutions (NbS) projects. They are initially launching the platform with planting projects in Canada, Kenya, Madagascar, United States, and Tanzania with plans to quickly expand to more sites in the coming months.

The veritree platform was built to be easily used by any restoration practitioner looking to develop and operate high-quality NbS projects. Their ground-level monitoring tools enable planting organizations in any location in the world to scale NbS. This enables veritree to connect planting organizations with corporate partners and donors to support their restoration initiatives.

Approximately 10% of the funding for tree planting goes to protecting the forest for the initial 3-5 years - the critical years where trees are most vulnerable. veritree also establishes buffer pools to cover any potential abnormal losses.

Beyond simply allocating money, veritree works closely with the local communities to showcase the immense value newly planted forests bring to their families. Through education and by involving them in the monitoring and reporting process, veritree finds local communities quickly develop a deep sense of ownership and pride over their trees, leading to effective management over the long-term, keeping forests not just alive, but keeping them thriving.

veritree acknowledges that carbon accounting is extremely challenging and that accounting for carbon sinks is still an evolving practice.

veritree's current estimates are based upon averages derived from a cross-section of studies conducted on mangrove ecosystems in equatorial regions focusing on countries in Southeast Asia and Africa, and Acadian ecosystems in Eastern Canada. According to veritree, the following variables are taken into consideration when they estimate carbon sequestration rate: i) species planted (including maturity age of the tree species), ii) forest type, iii) region, and iv) average tree survivability. Based on these variables, carbon sequestration is first calculated at the hectare level and includes above ground carbon (leaves, plant biomass, stumps, etc.), below ground carbon (roots, debris, etc.), and soil carbon (carbon that has been affixed to the soil). Carbon sequestration estimates are then quantified at the per tree level based on forecasted planting densities.

When primary data are not available, as a general rule of thumb, veritree uses a conservative set of secondary data, proxy data or assumptions to help ensure that they are not overestimating the carbon sequestration rate resulted from their projects. Moreover, veritree uses data collected at the site-level to validate or adjust their estimations and plans to continue to improve their estimation method through building partnership with academics in this space. veritree also currently does not offer carbon credits as part of their service due to uncertainties around carbon credits and accounting of carbon sinks.

While veritree has referenced credible academic papers to arrive at what they view to be their best estimate of carbon sequestration resulting from their project portfolio, they acknowledge there are limitations and uncertainties based on current estimation methodology. As such, veritee says they will continue to improve their estimation method through building partnership with academics in this space.

Veritree views additionality and permanence as critical to helping to feel confident that their projects are having an impact (not just doing something that would have happened anyway), and that the impact is long lasting.

To help ensure additionality, veritree collaborates with both corporate partners and local planting partners from tree order to tree planting and beyond to help ensure a seamless process that creates new carbon sinks that otherwise would not have been planted.

To help ensure permanence, veritree gathers on-the-ground monitoring to ensure trees remain in the ground over the first five years of its life. Part of the tree planting funding goes towards protection (from animals and human intervention) and by year 5 and onward, remote sensing (e.g. satellite imagery) is incorporated to monitor the long-term growth of the forest.

Level 1 - The first level of verification is complete once planting planters have submitted their planting form, activities, and applicable evidence through veritree's Collect App.

Level 2 - During the second level of verification, planting site management (leads and supervisors) check the data and information submitted via a planting site review and data check.

Level 3 - The third and final level of verification is conducted by veritree. At this stage all submitted data and evidence is analyzed by their internal machine learning algorithms to check for accuracy.