As trees trap carbon dioxide from the atmosphere for storage, existing forests can be a source of carbon credits, which can be calculated by measuring the amount of CO2 that the trees have trapped.
The platform allows users to compare how much high-quality carbon credits can be generated from different parts of the world.
For example, it shows that Indonesia and Malaysia are among the best countries to avert carbon emissions by protecting their forests.
The platform also enables users to calculate the estimated yield of carbon credits and their financial return on investment, based on the conditions they seek, such as the duration of the project, costs of running the project, and their expected carbon price.
In addition, the platform quantifies the possible benefits of conserving tropical forests, such as their impact on biodiversity, clean water supply for those living around the area, and their food security.
Having such information on the co-benefits allows buyers to better assess the quality of the carbon credits, said Prof Koh.
"The demand for high-quality, nature-based carbon credits often outstrips supply. So such a platform can help developers to shorten the often complicated and costly process of identifying carbon project sites which would deliver the greatest benefits for the climate, biodiversity, and people living around the area," he added.
The platform was launched on Sept 22 at the World Economic Forum - Champions for Nature event in New York during Climate Week NYC 2022.
It is based on recently published peer-reviewed studies and ongoing research led by CNCS researchers, and will help to fill major research and development gaps that have hampered the implementation of nature-based climate solutions globally.
These gaps include uncertainties over the location of the most promising carbon stocks, how future carbon price hikes will enhance the economic prospects of nature protection, and where natural ecosystems are benefiting society the most, noted Prof Koh.
