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:
- 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
- Enter into a Registration Agreement with the registry ensuring exclusive access to the carbon credits for a stipulated period (1 year initially). This is to prevent credits being “double-sold” through different registries.
- 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)
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
- If required, a once-off fee legal fee of R3 000 to cover the cost of the supply agreement and emissions purchase agreements with clients.
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.