These emission sources account for approximately 7% of global anthropogenic emissions of greenhouse gases. They are generally inexpensive to abate, but for a large part located in developing countries and transition economies with high project implementation barriers.
Our initial focus is on project categories for which there exist sound methodologies which enable the development and sales of High-Quality Carbon Credits. Three categories encompass our current project portfolio:
1) flare reduction,
2) methane leak detection and repair (LDAR),
3) installation of vapor recovery units (VRUs).
Recognizing that only half of methane emissions are covered by the three categories mentioned we are, in collaboration with Carbon Limits, engaged in broadening the scope by developing new methodologies encompassing activities such as compressor and other equipment replacements, avoidance of methane emissions from remote production sites and/or abandoned production wells, and prevention of “super-emitters”. This will prepare the ground for creating new categories of High-Quality Credits and provide carbon financing for projects which currently have significant financial barriers.
Our work on methodologies and concepts for mitigation financing also include the development of programs (or bundled projects) for methane avoidance. Programs may qualify for carbon finance through sales of High-Quality Credits or climate finance from corporate and public entities which intend to contribute to mitigation against a verified “contribution claim”.