The FINANCIAL -- Leading into the Rio+20 sustainability conference this week, Wildlife Works Carbon LLC has launched the campaign "Code REDD".

According to Allianz, this campaign highlights WWC's Reducing Emissions from Deforestation and Degradation project in Kenya. In the campaign, which has a special website, WWC prominently features Allianz SE, one of its major investors. Allianz support for WWC and its REDD project began last year.

The REDD project located in the Kasigau Corridor in Kenya seeks to protect pristine forests by providing locals with alternatives to deforestation and slash and burn farming. Deforestation currently accounts for around 17 percent of global greenhouse gas emissions and costs the world economy around to 4.5 billion US-dollars a year. This first project in Kenya will prevent the emission of 36 million metric tons of CO2 – equivalent to about twice the annual CO2 emissions of the city of Berlin – across an area of 208,000 hectares, over its lifespan of more than 30 years.

With this collaboration, Allianz will not only be protecting forests but also contributing to climate protection by reducing the emission of CO2. Investments such as these will make Allianz climate-neutral this year. The campaign, which includes a website and peer-to-peer videos, seeks to raise awareness for REDD projects and for the work of WWC.

"From our point of view, REDD is indispensible for achieving international climate goals. It is only with the comprehensive protection of forests that we can hope to reduce CO2 sufficiently. That is why Code REDD should be made a mandatory part of climate mechanisms," says Martin Ewald, investment manager at Allianz Climate Solutions.

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