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Carbon Credit Measurement, Reporting and Verification - Jesse Klein
- Gold Standard is an independent non-profit standard that certifies carbon offset projects based on their ability to drive climate action and sustainable development impacts. - It has certified over 2,300 projects across 100+ countries, reducing over 200 million tonnes of CO2. - Its certification process involves stakeholder consultation, validation, verification, and performance reviews to ensure project additionality, monitoring, and verification of emission reductions.
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Carbon Credit Measurement, Reporting and Verification - Jesse Klein
- 2. Van Butsic Principal Scientist CarbonDirect Jesse Klein Senior Editor GreenBiz Carlos Silva Remote Sensing Scientist Pachama MODERATOR Daniel Magrath Core Responsibilities Manager Gold Standard Carbon Credit Measurement, Reporting and Verification
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- 4. INTRODUCTION TO GOLDSTANDARD Gold Standard for the Global Goals • Independent, non-profit standard • SDG impacts core to each project Rigorous methodologies • 30+ methodologies • Across land use and forestry, energy and community services High-impact activities • 2300+ projects in over 100 countries • With 350 project developers Climate and development impacts • 200m+ tonnes of CO2 reduced • $36bn in shared value
- 5. In order toincentivize more companies to invest their finances in the carbon markets we must ensure high quality carbon credits through proper MRV Eligibility principle and requirements P 1 –Contribution to climate security & Sustainable development Baseline Assessment SDG 13+ two SDGs P 2 – Safeguarding Principles Safeguarding principles and requirements P 3- Stakeholder Inclusivity Stakeholder consultation and engagement requirements P-4 Demonstration of real outcomes Ex-post MRV P -5 Additionality Impact additionality Gender equality requirements Monitoring Reporting Verification Assurance to businesses
- 6. www.goldstandard.org @goldstandard help@goldstandard.org OURCERTIFICATION PROCESS Project planning Stakeholder Consultation & Safeguards Preliminary Review Validation Design Review Verification Performance review Renewal (validation) Renewal (Design Certification) Once per project At least twice per crediting period Every crediting period Listed project Certified design Certified project VVB CB
- 7. www.goldstandard.org @goldstandard help@goldstandard.org Inorder to improve MRV we must look to create efficiencies and reduce inaccuracies Digital MRV More accurate baselines Work with latest good practices
- 8. DR. VAN BUTSIC PRINCIPALSCIENTIST 8
- 9. Carbon Direct ison a mission to help organizations take meaningful action to stop climate change with science, data, and policy-backed strategies to measure, reduce, and remove carbon. OUR MISSION Copyright Carbon Direct Inc. 2023
- 10. Carbon Direct: end-to-endcarbon management solutions for every step Measure Analyze your emissions makeup. Prioritize where to take action. Track & report Track what matters with high fidelity reports. Share your impact with stakeholders. Understand Get insights from our experts to build your strategy. Remove Purchase high-quality removal portfolios from the best, scientifically vetted supply. Reduce Reduce emissions across your operations. 10 Copyright Carbon Direct Inc. 2023
- 11. Not all creditsare equal. Most credits on the market are low quality due to flawed protocols and methodologies. 3rd party certification alone does not guarantee quality. 11 ONLY 3% of credits in the voluntary carbon market are pure removals, which is where our supply comes from. Copyright Carbon Direct Inc. 2023
- 12. Our scientific rigorproduces quality credits across all dimensions. 12 Criteria for High-Quality Carbon Dioxide Removal Copyright Carbon Direct Inc. 2023 Create outcomes that would not have occurred otherwise. Are verifiable. Cause no harm to local communities. Account for environmental justice. Are durable. Have low risk of leakage.
- 13. Digital MRV isessential to all quality criteria 13 Create outcomes that would not have occurred otherwise. Are verifiable. Cause no harm to local communities. Account for environmental justice. Are durable. Have low risk of leakage. Remote sensing and models Digital workflows that enhance transparency, lower cost, and increase efficiency. Documenting changes in economic conditions, pollutants, water and air quality. Continuous monitoring of carbon storage. Digital engagement with stakeholders Remote sensing and models, digital market data Copyright Carbon Direct Inc. 2023
- 14. Copyright Carbon DirectInc. 2023
- 15. Modernizing carbon markets: digitalmeasurement, reporting, and verification GreenBiz ‘23 | Carlos Silva, Remote Sensing Scientist at Pachama
- 16. PRIVATE & CONFIDENTIAL16 SOURCE: Griscom, et al. PNAS (2017). Nature can be a critical climate solution
- 17. PRIVATE & CONFIDENTIAL17 Current market size Crediting today is <1% of global fossil fuel emissions SOURCE: Ecosystem Marketplace State of the Voluntary Carbon Markets (2022). But carbon markets need to rapidly scale
- 18. PRIVATE & CONFIDENTIAL18 Modernizing carbon markets with DMRV Digital Measurement Reporting Verification
- 19. PRIVATE & CONFIDENTIAL Whatdoes a digital future look like? 19 High Quality Transparent Scalable
- 20. PRIVATE & CONFIDENTIAL CurrentModel Digital Solutions 20 What can be digitized? Manually Gathering Data Human Calculations Auditing Projects Auditing Systems Gathering Data with Satellites Machine Calculations Static Documents Interactive, Digital Visualization
- 21. PRIVATE & CONFIDENTIAL21 Core crediting technology Pachama is developing core technology to digitally compute carbon credits
- 22. PRIVATE & CONFIDENTIAL22 Total Credits = Project Emissions Baseline Emissions Leakage Emissions - - Uncertainty Adjusted Transparent, simplified crediting in a single equation
- 23. PRIVATE & CONFIDENTIAL23 x Total Credits = Project Emissions Uncertainty Adjusted - Baseline Emissions - Leakage Emissions Core Crediting Equation Project =
- 24. PRIVATE & CONFIDENTIAL24 Core Crediting Equation Baseline Total Credits = Project Emissions Uncertainty Adjusted - Baseline Emissions - Leakage Emissions x =
- 25. PRIVATE & CONFIDENTIAL25 Core Crediting Equation Leakage Total Credits = Project Emissions Uncertainty Adjusted - Baseline Emissions - Leakage Emissions x =
- 26. PRIVATE & CONFIDENTIAL26 Third-Party Software Audit Certification Auditing Pachama DMRV Pachama Project Developer Portal Forest Cover Mapping Baseline Mapping Carbon Mapping Registry Credit Issuance Pachama Marketplace An integrated digital platform