Credible Carbon Project Criteria
Credible Carbon is looking to support new projects that comply with the registry standards. Not every CO2 avoiding activity qualifies as a carbon off-set project, but we are on hand to assist you in understanding the opportunities and bringing suitable projects to the registry. To gauge whether or not your project is suitable for the Credible Carbon registry we will need the following information:
- Project Description
- Carbon savings
- Contact details
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to explore the opportunities.
How a project trades its carbon credits through the Credible Carbon Registry:
A full description of this can be downloaded here
The Credible Carbon registry only sells credits that have been shown to be real, measurable and permanent, and all credits listed in the registry have been audited by independent auditors. The audit process places an emphasis on:
- The project’s existence and track-record (Credible Carbon does not sell credits from planned or undeveloped projects).
- The functioning of the technology or programme responsible for mitigation, energy efficiency or sequestration.
- The plausibility of assumptions made to estimate carbon savings and their grounding in recognized norms.
- A discernible impact on poverty.
For a project to trade through the Credible Carbon registry it must:
- Submit a Project Idea Note detailing its operations and estimating the quantum of saved carbon
- Enter into a Credit Supply Agreement with the registry ensuring exclusive access to the carbon credits for a stipulated period (usually 2 years). This is to prevent credits being “double-sold” through different registries.
- Pass a carbon audit by an independent auditor contracted by the registry.
Only once credits are sold does the project become liable for transaction costs which are deducted from the carbon revenue. Transaction costs are comprised of:
- The audit fee (typically R30 000 – R40 000)
- R1 per tonne registry fee,
- A once-off fee legal fee of R3 000 to cover the cost of the supply agreement and emissions purchase agreements with clients.
A full description of this can be downloaded here.