Australian project
Australian project
Australian project
International project
International project
International project
Carbon initiatives must demonstrate that the greenhouse gas reductions or carbon capture achieved by the project are exclusive to its intervention, exceeding what would naturally occur without it.
Robust scientific methods must be employed to precisely calculate the project’s contribution to reducing emissions, ensuring the credibility of the carbon credit.
An external third party must audit the claimed emissions reductions or carbon removals, guaranteeing the project’s integrity and adherence to established standards.
Projects must secure enduring or permanent solutions for carbon sequestration or emissions abatement, implementing safeguards against any reversal of benefits.
Projects need to proactively address and reduce any inadvertent negative impacts that may lead to increased emissions outside the project boundary.
Beyond cutting emissions, projects should foster additional environmental and social advantages, such as improving sustainable development, enhancing community welfare, conserving ecosystems, and strengthening local economies.
Projects are expected to practice open communication and involve all stakeholders, including local populations and indigenous communities. This ensures projects are well-aligned with regional needs and positively contribute to broader sustainability goals.
Carbon initiatives must demonstrate that the greenhouse gas reductions or carbon capture achieved by the project are exclusive to its intervention, exceeding what would naturally occur without it.
Robust scientific methods must be employed to precisely calculate the project’s contribution to reducing emissions, ensuring the credibility of the carbon credit.
An external third party must audit the claimed emissions reductions or carbon removals, guaranteeing the project’s integrity and adherence to established standards.
Projects must secure enduring or permanent solutions for carbon sequestration or emissions abatement, implementing safeguards against any reversal of benefits.
Projects need to proactively address and reduce any inadvertent negative impacts that may lead to increased emissions outside the project boundary.
Beyond cutting emissions, projects should foster additional environmental and social advantages, such as improving sustainable development, enhancing community welfare, conserving ecosystems, and strengthening local economies.
Projects are expected to practice open communication and involve all stakeholders, including local populations and indigenous communities. This ensures projects are well-aligned with regional needs and positively contribute to broader sustainability goals.
The Kyoto Protocol in 1997 and the Paris Agreement in 2015, established global objectives for CO2 emissions. As the latter received ratification from nearly all nations, it paved the way for the formulation of international emission targets and accompanying regulations.
With the implementation of these regulations, businesses are facing increasing pressure to reduce their carbon footprint in line with both national and international goals. Presently, many strategies involve participation in carbon markets to offset hard-to-abate emissions.
Essentially, carbon markets assign a monetary value to CO2 emissions, transforming them into tradable commodities.
Below is a brief explanation of the two different types of carbon credits.
Avoidance or reduction credits are generated through projects that prevent or reduce the emission of greenhouse gases on a project-specific basis. These initiatives focus on avoiding the release of emissions that would occur in a business-as-usual scenario. Examples include the implementation of renewable energy sources such as wind and solar or the protection of forests that without the carbon project, would have otherwise been subject to deforestation.
Removal or sequestration credits are generated by projects that actively capture and store carbon dioxide from the atmosphere. This involves activities like afforestation, reforestation, or other initiatives that enhance carbon sequestration. The aim is to remove and store more carbon than the natural environment would naturally absorb, contributing to a net reduction in greenhouse gas in the atmosphere.
Both avoidance/reduction credits and removal/sequestration credits are integral components of carbon markets, encouraging sustainable practices that contribute to the global effort to mitigate climate change.
Cool Planet’s ‘Emissions Calculation, Optimisation & Management Portal’ (ECO-MaP) provides a cost-effective and time-efficient solution for businesses of any size to identify, report and act on reduction opportunities and offset your emissions through high-integrity projects.
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