Certification of
carbon credits
ClimatePal is a global carbon crediting standard that certifies projects worldwide. To get their carbon credit project certified, project developers undertake the following steps.
Step 1 – Proposal of project idea
Fill the “Cover Letter” with a description of the project idea and send it to the ClimatePal Secretariat. ClimatePal will review the proposal and after approval, you can open an account in ClimatePal Registry (more on account opening procedure here). All subsequent submissions of documents and project status tracking will be through the Registry.
Step 2 – Submission of Project Design Document (PDD)
Develop and submit the PDD (template here) which includes detailed information on the goal and scope, the emission calculation etc. Once the PDD is reviewed and approved by the Standard, it will go for public consultations. After the public consultation the project gets “Reviewed Project” status.
Step 3 – Third-party validation
Choose Validation and Verification Body from the list of approved VVBs under ClimatePal Standard. The third-party validation process by a VVB consists of an on-site audit and certification of the authenticity of the submitted PDD. After successful validation, the project gets the status “Registered Project”.
Step 4 – Verification and monitoring
Conduct annual monitoring of emission reductions based on the agreed procedure of applied project methodology. The VVB reviews the monitoring report and submits it to the ClimatePal together with verification report.
Step 5 – Issuance of carbon credits
Based on the certified amount of emission reduction in the monitoring report, project is able to issue carbon credits in the ClimatePal Registry.
Certification fee
| Fee elements | Type of fee | Price range (€) |
|---|---|---|
| Project idea review | Variable depending on the project complicity | 300 – 500 |
| Open account in our registry | Fixed | 400 + 200 annual fee |
| PDD review | Fixed | 1200 + 300 each additional review |
| Review of validation report | Fixed | 800 |
| Registration as ClimatePal certified offsetting project | Fixed | 1500 |
| Review of monitoring and verification repors | Fixed | 600 + 100 each annual report |
| Credits issuance | Variable depending on amount of issuance | 0,50 – 0,10 per credit |
Basic requirements
We create added value
Additionality
Carbon offsetting project should not be implemented without the financing from carbon offsetting and in presence of respective legalization requirements.
Permanence
The alleged emissions do not enter the atmosphere for a reasonable period, avoiding the risk of reversal. Our solution –risk management mechanism and “buffer pool” creation.
No Double-counting
The same emissions reductions/removals should not be claimed/sold twice. Emission reductions must be traceable to ensure that they have not already been sold or may be sold more times in the future.
No Leakage
Carbon offsetting project should not create emissions outside the boundaries of the project.
Verifiability
The alleged emissions reductions have been quantified and verified by an independent third party. Our solution – insurance of MRV process in place with VVB rotation in every 3 years.
ClimatePal specific
More than just GHG savings
Contribution to SDG
To be certified under ClimatePal emission reduction/removal project should contribute to at least 3 SDGs.
Provision of Ecosystem Services
To be certified under ClimatePal emission reduction/removal project should protect/restore/conserve Ecosystem Services.
Enhancing Biodiversity
To be certified under ClimatePal emission reduction/removal project should justify its positive effect to biodiversity.
Positive Social Impact
To be certified under ClimatePal, emission reduction/removal project should create a valuable social impact.
Do no net harm
Carbon offsetting project should consider related environmental and social risks and take actions to prevent and mitigate associated harm.
Check out on how to turn your idea into practice
Do you have a project idea to combat climate change and providing valuable co-benefits?