Over 90% of the carbon in the Katingan Mentaya Project is in the underlying peat soils. The area was under threat of conversion to an industrial acacia plantation. This would have resulted in the release of carbon through forest clearance, draining and burning of the underlying peat. Through performance-based carbon financing, we offer a viable alternative to conversion, preventing the release of greenhouse gases equivalent to 447, 110, 760 tonnes of carbon dioxide over 60 years. That makes it the world’s largest forest-based avoided emissions project, with a total climate impact equivalent to the annual emissions of France.