CREDIBLE CARBON IS A VOLUNTARY-MARKET CARBON REGISTRY THAT CERTIFIES AND TRADES AFRICAN CARBON PROJECTS THAT MAKE A DIRECT IMPACT ON POVERTY
Avoiding carbon-emitting activities is your best (and first) responsibility, but when emissions are unavoidable, purchasing an off-set from an abatement project can make reducing greenhouse gas emissions affordable. Credible Carbon off-sets also improve the living conditions for people in Africa.
Every Credible Carbon project is independently audited and has to comply with the registry’s FOUR BIG QUESTIONS:
- Is the project real – does it exist? We do not forward trade carbon off the back of business plans or cheap talk.
- Is the planned technology in place and functioning according to its design specification?
- Is the quantification of carbon in line with locally and internationally accepted norms, unbiased and verifiable?
- Does the project make a discernible impact in poverty?
We think that the answers to these FOUR BIG QUESTIONS provide buyers with the type and quality of information that they require; more so than many of the thick, deliberately incomprehensible and vague (not to mention expensive) documents that have come to be associated with CDM and voluntary market audit processes.
All projects are independently audited using methodologies recognised by the CDM but applying voluntary carbon market processes. Our audits are conducted by independent and recognised entities, typically last 4 days, always involve a site visit and beneficiary interviews, and cost between 10 and 100 times less than the alternatives. Past audits have been conducted by the University of Cape Towns, Energy Research Centre, SouthSouthNorth, Urban Earth and Carbon Calculated all of whom have a recognised reputation in the industry and a valuable track-record associated with uncompromising rigour.
The result is a set of projects that comply with our aim and vision for this market:
Real projects, real people, real benefits (we don’t trade business plans!)
Carbon + poverty alleviation
- At least 70% of net carbon revenue returned to the project beneficiaries as cash or reinvestment. In 2012 we managed to return over 91% of carbon revenue to projects, after audit fees, legal costs and registry fees.
- Sub-Saharan African
- Locally developed projects
- Maximum 25% of projects developed through carbon sequestration
- Independently audited by recognised experts
We understand the role of a market instrument. Credible Carbon is a registry that was designed to support projects (not itself!) and constantly seeks to reduce the transaction costs for small, poverty alleviating projects that also reduce greenhouse gas emissions using methodologies recognised by the CDM.
The volume of traded credits has grown over the past three years from 8,000 tCO2 in 2010 to over 42,000 tCO2 in 2012. Credit prices in 2012 ranged from R43 per tCO2 to R250 per tCO2 depending on the scale and the nature of the project. In our most recent project, we returned 91% of total carbon market revenue to the project – that is after proponent, legal and audit fees.