Developing Emission Reduction Projects

Carbon Project Development

The general concern about climate change has risen exponentially over the last decade. Every year, the COP (Conference of the Parties) meets, discusses, evaluates, decides, and commits to different critical topics to address climate change mitigation. The COP21 in 2015 gave us the Paris Agreement, which includes climate financing as a vital component. Carbon mitigation projects are one of the best ways to reach environmental, economic, and social goals. 

What is a Carbon mitigation project?

These projects can be considered a public or private initiative to diminish the effect of greenhouse gases (GHG) in the atmosphere through the implementation of any activity that avoids, reduces, or sequesters GHG from the environment. There are different types of projects depending on the activity, or technology used, but we could summarize them as follows: 

1. Renewable electricity production
2. Fugitive emissions recovery
3. Waste handling and disposal
4. Transport
5. Fuel switch and energy efficiency
6. Nature-based solutions: Within this category and because of its relevance, we can go deeper into the classification:
   • Avoided natural ecosystem degradation
     • Reduction of Emissions from Deforestation and Forest Degradation
     • Livestock management
   • Emission removals and carbon sequestration
     • Forests and trees – Afforestation / Reforestation and Improved forest management
     • Wetlands
     • 2.3.Farmlands and Grasslands

The general process for developing a carbon project is outlined below. Whether the project is being planned and implemented to meet a compliance carbon mechanism or a voluntary carbon market, the procedure remains the same.  

Any activity registered under the carbon schemes must be verified and registered (fulfilling several conditions) under a crediting standard to get the carbon credits. Leading standards worldwide are Verified Carbon Standard (VCS), the GoldStandard, American Carbon Registry (ACR), Climate Action Reserve (CAR) and the UN’s Clean Development Mechanism (or its successor mechanism under Article 6 of Paris Agreement) 

One carbon offset or carbon credit directly relates to avoiding, reducing, or removing one tonne of greenhouse gas (GHG). The impact of carbon mitigation projects is presented in CO2e, which is the equivalent of 1tonne of CO2 (depending on the Global Warming Potential of the GHG mitigated).

Why should private companies promote Carbon mitigation projects?

Supporting the creation of a new carbon project allows companies to contribute to the financing of carbon reduction and/or removal operations while ensuring that project benefits are aligned with their company, value chain, or community. The certification of climate change mitigation activities is crucial to ensure the credibility and robustness of greenhouse gas emission reduction claims. These claims have an increasingly important place in carbon neutrality declarations. 

How can Strive help?

We work with companies to develop emission reduction projects in multiple technologies and countries. Strive can also help financially supporting projects worldwide, for maximum environmental and social impact.

If you wish to learn more, we invite you to fill the form or contact our team at hello@strive.earth.