Future-proofing voluntary carbon projects - managing the - - PowerPoint PPT Presentation

Future-proofing voluntary carbon projects - managing the double-counting risk post-2020

08th November 2017 – COP23

FUTURE PROOFING VOLUNTARY CARBON PROJECTS

Moderator: Malin Ahlberg, European Climate and Energy Policy and New Market Mechanisms, BMUB Panelists:

• Owen Hewlett, Gold Standard
• Timothy Mealey, Meridian Institute
• Stefan Baumeister, myclimate Germany
• Aki Kachi, Carbon Market Watch
• Simon Henry, ICROA

Founded by WWF and other NGOs in 2003 Swiss non-profit headquartered in Geneva Endorsed by 80+ NGO supporters

Gold Standard believes that climate and development go hand in hand. We work to ensure that every dollar creates the greatest impact in climate security and the Global Goals.

GOLD STANDARD & VOLUNTARY CARBON MARKETS POST-2020

A next-generation standard to quantify, certify and maximise impacts toward climate security and sustainable development

Ne New S Standards f s framework & & re results-ba based ed fina nanc nce e pr produc ducts Th Thought t lead aders rship & stak takeholder r enga engagem gement ent

THE CHALLENGE

“Do “Double co counting occu ccurs s when a si single GHG Em Emissi ssion Reduct ction uni unit i is us used ed m more e th than on

• nce"

Voluntary Offsetting NDC Reporting & Targets Market Mechanisms Reporting

DOUBLE COUNTING POST-2020 NDC SCENARIO

Host Country Corporate Buyer Voluntary Carbon Project

Transfer of VER – 1tCo2e eq

Set against corporate targets (e.g.

• ffsetting)

Included in Host Country NDC Reporting

Reporting of impact of 1tCo2e eq

DEVELOPING A RISK ASSESSMENT TOOL

Double Counting

Enable proponents to assess risk of portfolio and new projects Decide when a VER can/cannot be issued Provide clear rationale and transparency Climate integrity, credibility and market confidence Engender communication between proponent, host, buyer etc Promote discussion on alternative solutions Create a sustainable, practical tool

WHAT WILL IT LOOK LIKE?

Assess the NDC – type, version etc Assess key risk parameters for relevance and level Decide whether a VER could be issued and what the process is Develop alternative products for when VERs cannot be issued

TIMELINE

Appoint Expert Working Group Present initial view at COP 23 November 17) Draft for review Final draft approval GS publication – Q2 2018

Q3 2017 Q4 2017 Q1 2018

Begin engagement with DNAs, market etc

Testing

Industry event – April 2018, Berlin Drafting Drafting

Thank you – Any questions?