Carbon markets offer the possibility of using project-based mechanisms to generate additional reductions in greenhouse gas (GHG) emissions through sustainable investments. These projects aim to reduce anthropogenic emissions by working at sources or increasing their absorption by so-called carbon sinks while generating “carbon credits”.
The main purpose of these types of projects (or programs of activities ) and the international standards that regulate them (CDM, VCS, Gold Standard, ACR) is to contribute to the sustainable development of countries while contributing to the fight against change climate reducing greenhouse gas (GHG) emissions that are released into the atmosphere. In turn, they allow countries that participate in the implementation of these types of projects to fulfill their quantified commitments to limit and reduce greenhouse gas emissions (GHG) by obtaining carbon credits with which they can market and/or offset their own emissions.
In order for these projects and programs to obtain registration under these Standards they must go through a rigorous process in order to verify that the reduction of GHG emissions is additional to those that would occur in the absence of the project activity that is proposed to be registered and that produce benefits that are real, quantifiable and contribute to climate change mitigation. Likewise, it must be verified that the project activity complies with the registered monitoring plan and the calculation requirements for greenhouse gas emission reductions.
We work in all sectors approved by the Executive Board of the Clean Development Mechanism, VERRA and Gold Standard.
United Nations Framework Convention on Climate Change, as well as VCS, Gold Standard and American Carbon Registry. In ALLCOT we apply a 6-step approach for the registration of all our projects:
- Step 1. Determine the needs of the project. Our team of technicians studies the documentation and identifies the standard and methodology of calculation and monitoring that applies to the project. Sometimes, it is detected that the implementation of the project has not been in accordance with the requirements of the standard, and it is necessary to carry out a process of change or PRC (Post Registration of Changes).
- Step 2. Development of a project plan. Taking into account the standard, technology and location of the project, the assigned technical team will prepare a project plan that includes from the preparation of the monitoring report to the final issuance of carbon credits. The ALLCOT technical team responsible for each project accompanies the promoter in all phases, ensuring that the communication flow is maintained in a fluid and efficient way between all the parties involved in the process.
- Step 3. Preparation of the necessary technical documentation:
- Monitoring report: follow-up document prepared in accordance with official formats that include a description of the Monitoring/Monitoring Plan, deepening the data reception system, control mechanisms, technical specifications of the data supplied and calculations made.
- Calculations of GHG reductions/removals: Tool for calculating emissions reductions/removals generated by the project prepared in accordance with the guidelines of the standard (CDM, VERRA, GS), to the documentation previously registered and the methodology applied.
- Support documentation: Calibration plans, cartography, ArcGIS archives for the control of plots in forestry projects, monitoring of the co-benefits identified in the project’s socialization, etc.
- Monitoring report on the implementation of the SDGs in accordance with international standards.
- Step 4. Field work. The field work is adapted to the needs of the client and the project and is carried out both during the preparation of the documentation and during the subsequent audit process.
- Step 5. Verification Audit. Verification audit processes are performed by internationally accredited entities. ALLCOT accompanies the project promoters throughout the process resolving any nonconformity or issue that arises from the audited entity.
- Step 6. Management of the issuance of carbon credits and their subsequent commercialization. Once the audited entity issues the verification opinion and certifies the final volume of credits to be generated, ALLCOT assists the promoters of the projects during the registration process with the standard, as well as during its subsequent commercialization in international markets.
The benefits of this independent audit process is to give credibility to the market by ensuring that a ton of reduced CO2 in any part of the world corresponds to a ton of real, measurable, certified and generated CO2 from a project that contributes to sustainable development. That ton can be commercialized in the market in such a way that economic benefits have generated that help the economic viability of the projects in a sustainable way.