S3|EP20 - Carbon Credits & Conservation: How Wildlife Works is Saving Forests and Communities | Mike Korchinsky

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 Conservation

Over 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 Model

Mike 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 Impact

The 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