Credible Carbon Project Criteria
Credible Carbon is looking to support new projects that comply with the registry rules. The Credible Carbon registry only sells credits that have been shown to be Additional, Measurable and Permanent and supported by Excellent Data (AMPED).
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
Project registration process
For a project to trade through the Credible Carbon registry it must:
- Ensure that the project is AMPED (Additional, Measurable and Permanent and supported by Excellent Data). We only list projects that are based in Sub-Saharan Africa, produce a minimum 1000 tCO2/year), and have social impact/poverty alleviation benefits.
- Submit a Project Idea Note (PIN) detailing its operations and estimating the quantum of saved carbon. This can be done by any suitably qualified and experienced carbon market practitioner. Credible Carbon will review the PIN before accepting the project into the registry. This PIN creation and submission project can take as long as the Project may need to create it. We have a number of Project Proponents in our network who are available to assist with this process to expedite and ensure success. We also have a PIN Template available with guidance provided. Although it only takes us up to a week to review a PIN, it may take some back-and-forth and several iterations to ensure a quality PIN as the Project is audited against this document and we want to ensure your project is successful.
- Enter into a Registration Agreement with the registry ensuring exclusive access to the carbon credits for a stipulated period. Registration Agreements are signed for a minimum period of 1 year. Agreement and credits roll over every 12 months, with the option for the project to de-register. This is to prevent credits being “double-sold” through different registries. All projects will need to abide by the Credible Carbon Registry Rules.
- Pass periodic carbon audits by an independent auditor contracted by the registry (usually at least every three years). Project audits take roughly 3 months, however, if the audit results in a Fail verdict, Projects have up to 3 months to take corrective action and re-submit for a re-audit. Successful projects are also audited at least every 3 years, but can request an audit as frequently as they would like.
How much does it cost?
The project is liable for the following transaction costs:
- The audit fee (typically around R 60 000 per audit)
- Transaction fee, which is 10% of the revenue from credits sold or R14 per tonne
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 recognised norms.
- A discernible impact on poverty.
Submit Your Project
If your project reduces carbon emissions and significantly helps the poor, please submit your application below.