Carbon project development
We develop greenhouse gas (GHGs) emission reduction projects for companies in the following sectors: recycling, renewable energy, energy efficiency and related industries. Through the reduction of GHGs, we are contributing in the fight against irreversible climate change. Our technical team manage all aspects of your Project. From the design phase through to completion, we work with our clients to fully scope, implement and deliver a Project that maximises value, while satisfying full environmental and social requirements.
In the Carbon Markets, there are numerous standards to choose from. The most popular Standards are:
-UNFCCC CDM: The United Nations Framework Convention on Climate Change runs the Clean Development Mechanism, a project based standard recently focused on Least Developed Countries. Credits are called CERs.
-VCS (Verified Carbon Standard): The most common standard, VCS projects offer the widest scope of project technologies which are typically based on CDM methodologies. Credits are called VCUs.
-GS (Gold Standard): . Designs processes in a sustainable manner with responsibility for managing efficiently the energy resources and waste management. Credits are called GS VERs or GS CERs.
General Project Procedure
-Identification of the baseline according to the methodology selected.
Development of the PIN (Project Information Note) which is the process of gathering and compiling basic information about the project.
An evaluation that confirms the environmental benefits that the will accrue from the Project compared with a business-as-usual baseline scenario (had the Project not existed). A financial additionality check confirms that the Project would not have taken place without the prospective addition of revenues from sales of carbon credits.
-Project Design Document.
This document requires the Project’s stakeholders to be consulted, and their views taken into consideration at the Project’s planning stage. Under the Gold Standard, a prospective Project’s documentation must include a Local Stakeholder Consultation Report, in addition to GS Passport documentation which includes additional environmental, economic and social sustainability info.
-First the project requires a validation by an external, independent company known as a DOE (Designated Operational Entity). ALLCOT, as a project developer, cannot validate its own Projects. The next step is to have the Project ‘registered’, an official recognition that it has met the conditions under the relevant Standard (VCS, for example).
-If the Project was already in operation before Registration is granted, the possibility exists to request the issuance of retroactive credits (for a maximum period of 2 years prior to the registration of the project). To be able to demonstrate that the emission reductions are real, there will be the monitoring report.
-Verification by the DOE, which consists of audit monitoring report, developed in an earlier stage.
-Registration and issuance of the credits.
*Each new issuance of credits from the Project will require fresh MRV (monitoring, reporting and verification) in order to attest the correct number of credits and that they were generated in accordance with the stated methodology.