Carbon advisory firm Promethium Carbon has announced an initiative to consolidate carbon projects to eliminate the need to resubmit similar projects to the United Nations (UN) for validation.
The mechanism, known as a Programme of Activities (PoA), is based on writing the documentation and submitting it to the UN for verification once. When approved, similar projects can be included in the PoA programme and replicated under a single project umbrella.
The carbon credits are then pooled and sold collectively.
“Because only one generic design document needs to be written, the PoA programme becomes easier to implement,” said Promethium Carbon director Harmke Immink.
He added that the PoA mechanism reduced the duplication of paperwork, as well as the time-consuming nature of developing carbon credit projects on a project-by-project basis.
“PoAs need to be managed by a pre-elected coordinating and managing entity (CME), which can be either a private company, carbon adviser, government entity or nonprofit organisation. However, the best CME for underlying projects would be an independent nonprofit organisation,” Immink indicated.
The Carbon Protocol of South Africa, which is an independent nonprofit organisation involved in managing carbon projects and registering credits locally, is an appointed CME for four PoAs
Immink said the intention was to leverage the Carbon Protocol of South Africa in the marketplace, for PoA projects to benefit large and small projects.
“Our aim is to coordinate and consolidate similar PoA projects. The first PoAs include a wind energy programme, solar energy programme and a trigeneration programme,” he noted.
Law firm Edward Nathan Sonnenbergs is the project’s trustee and was appointed by the Carbon Protocol of South Africa to draft the PoA contracts.