Carbon Streaming Corporation (NETZ.NEO) today provided an update on the Rimba Raya Project in Indonesia. Carbon Streaming’s partner and Rimba Raya project operator InfiniteEARTH Ltd. announced the validation of Rimba Raya under new Indonesian carbon regulation. Under the new Regulation No.21, all carbon projects in Indonesia must be registered, validated, and verified on the Sistem Registri Nasional Pengendalian Perubahan Iklim (SRN) carbon registry.

Here are further highlights:

• Rimba Raya is the first REDD+ carbon project validated under Reg 21, which establishes a framework for domestic and international carbon trading in Indonesia.
• Validation of the Project was limited to an area comprising 36,331 hectares (“ha“) under a concession agreement with the Ministry of Environment & Forestry (“MOEF“). Additional sections of land are planned to be validated separately.
• Under SRN program regulations, emission reductions for the initial portion of the Rimba Raya project area under this first validation now extend until 2073 and are expected to average approximately 2.7 million tonnes of carbon dioxide equivalent (“CO₂e“) per year according to the validation report.
• Verification of the Project is scheduled to begin in January 2023 and will cover a period from July 1, 2019 to December 31, 2022, for an expected total of approximately 9.8 million carbon credits before any buffer deductions, including requirements for the Nationally Determined Contribution (“NDC“) buffers and domestic market use pursuant to Reg 21.
• The validation was independently audited by PT Mutuagung Lestari, an Indonesian testing, inspection and certification company.
• The methodology used for the SRN validation of the Project is adapted from the BioCarbon Fund Initiative for Sustainable Landscapes (“ISFL“) Emission Reduction (“ER“) Program Requirements Version 2.0_2021.

“We are encouraged by the progress at Rimba Raya, being the first REDD+ project validated on the SRN under Reg 21. This is an important step in complying with the new regulations set out by Indonesia’s Ministry of Environment & Forestry in October,” said Justin Cochrane, Carbon Streaming Founder and CEO. “We will continue to provide updates to our stakeholders as the Project meets additional milestones under Reg 21 and as further information becomes available.”

Rimba Raya has been conserving tropical lowland peat swamp forests in Central Kalimantan, Indonesia for over a decade. The area was slated for conversion to palm oil plantations, which would have resulted in the loss of habitat for more than 100 threatened and endangered species, including the Bornean orangutan. InfiniteEARTH has operated the project since its inception in 2009 along with PT Rimba Raya Conservation, its local partner.

Carbon Streaming Corporation aims to accelerate a net-zero future. The company uses stream financing to scale high-integrity carbon credit projects to accelerate global climate action and advance the United Nations Sustainable Development Goals. The Company’s focus is on projects that have a positive impact on the environment, local communities, and biodiversity, in addition to their carbon reduction or removal potential. The Company has carbon credit streams and royalties related to over 20 projects around the world, including projects involving nature-based solutions, the distribution of fuel-efficient cookstoves and water filtration devices, waste avoidance and energy efficiency, agricultural methane avoidance and biochar carbon removal.

With governments worldwide making climate a priority, many investors have said that Carbon Credits will be the next big investment opportunity. For long term holders, we are still in the early stages of this trend.

At time of writing, the stock is up over 17% on the day.

The chart of Carbon Streaming meets my criteria for an early reversal trade. It appears as if we have a basing pattern and a reversal pattern known as the cup and handle is looking to trigger.

Trigger is the key word. $2.60 is the resistance zone I am working with, and if the stock can confirm a close above this level, then the breakout has triggered. Currently, you can see the price is not closing above $2.60 as evident by the wick. This is typical of what occurs at resistance zones.

Very good looking chart in a sector which will see high growth in the future.