June 29, 2008
Stern Helps Launch New Carbon Ratings Agency
The UK Government’s climate change adviser, Sir Nicholas Stern, helped launch an initiative aimed at illustrating how clarity and transparency can boost investment and increase chances of companies delivering effective emissions reductions.
The Carbon Ratings Agency says it is the world’s first independent carbon credit ratings service.
The service provides detailed credit ratings for carbon offset assets in the CDM, JI and voluntary markets. Each asset studied is given a rating based on an analysis of the underlying project, leading to an assessment of the likelihood of it delivering its stated emissions reductions in the stated time period. The Carbon Ratings Agency also considers the economic and social development benefits that the project does, or does not bring.
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Reader Comments
It’s great that a company is taking on the task of rating carbon offsets. The credibility of many carbon offsets have diminished because of lack of transparency and strong national standards. Our company, The Green Office, has chosen to sell credits that meet the guidelines of the Kyoto Protocol, ensuring that the carbon projects meet ‘additionality’. Additionality is necessary for offsets to be legitimate but many projects do not meet this requirement. A third party that could effectively standardize carbon offsets and widely publicize this program would be very useful for both buyers and sellers. For more information on carbon offsetting, you can also visit our website at http://www.thegreenoffice.com/
Ky | July 7th, 2008