12/9/2023 0 Comments Who issues carbon credits![]() ![]() ![]() Therefore projects undergo continuous monitoring throughout their lifetime: the length of these monitoring periods vary but must adhere to certain limits. This ensures that the project and the associated emission reductions are real, permanent and additional.Īlthough initial estimates are made when a project is set up (referred to as ex-ante), carbon credits can only be issued once the emissions reductions have taken place (called ex-post) to ensure accuracy. South Pole's projects are certified under ICROA-approved carbon certification standards that have designed robust multi-step verification processes which projects must go through to issue carbon credits. Read our principles for carbon credit use. We are committed to continuous improvement, through the periodical review of our own quality criteria and integrity processes. We are continuously working towards the highest standards at all times - above and beyond the requirements of carbon standards. This could be improving health, creating better education opportunities, improving wildlife conservation, or building sustainable communities.Īt South Pole, we believe that every credible climate solution should be continuously evaluated and improved as climate science, new technologies, and methodologies evolve. In general, the standards also highlight additional benefits beyond carbon – all South Pole projects contribute to multiple UN’s Sustainable Development Goals. These measures address key project risks such as partner/participants risks, technical/carbon integrity risks, environmental and social risks and reputational risks. ![]() In addition to that, South Pole has developed its own set of additional integrity measures. Ensuring that the project is additional to what could happen without the project being in place. ICVCM estimates that by the end of 2023, the first “CCP-labelled” carbon credits will be available on the market.Īll South Pole’s projects adhere to and have been verified to ensure their alignment with one or more of the mentioned standards. You can check this by ensuring the projects you support are registered with a third-party internationally-recognised verification standard, such as the Gold Standard, Verra’s Verified Carbon Standard (VCS), Social Carbon and Climate, Community and Biodiversity Standards (CCBS), or standards verified by the UNFCCC.įurther, The Integrity Council for the Voluntary Carbon Market (ICVCM) has published the Core Carbon Principles (CCPs) as a benchmark for high-integrity carbon credits, raising the bar for high quality attributes such as additionality and permanence of each climate action project methodology. These standards are previously approved by organisations like The International Carbon Reduction and Offsetting Accreditation (ICROA). High-quality carbon credits adhere to a strict set of standards. Acknowledging that fact, the SBTi pledges for using removal carbon credits to neutralise the remainder of emissions at net zero target year (depending on the industry, between 10 to 30%). No company in any industry is expected to decarbonise their business completely to zero emissions. In consequence, BVCM becomes a natural part of every climate strategy.Īnd not only BVCM, but also reaching net zero eventually is a use case for funding climate actions with carbon credits. The SBTi encourages companies to engage in beyond value chain mitigation (BVCM). Further, a recent study conducted by Trove revealed that companies using significant amounts of carbon credits are decarbonising at twice the rate of those that do not.īeyond decarbonising their business towards global net zero, it is becoming imperative for companies to address today’s emissions while further decarbonising their own operations and value chain. The current pledges and actions are falling short and the window to keep climate change in check is shrinking.Ĭompanies have an important role to play in increasing ambition and mobilising significant amounts of climate finance before 2030 to dramatically lower greenhouse gas emissions and contribute to reaching internationally ratified targets such as the Paris Agreement and the UN’s Sustainable Development Goals (SDGs).īy financing climate action, companies can set an internal price on carbon, so that it incentivises them to decarbonise faster.
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