SOCIALCARBON

Getting Started

SOCIALCARBON Standard is involved in the project design, validation, and verification stages of the carbon offset value chain. The process begins with the creation of SOCIALCARBON indicators, followed by the completion of SOCIALCARBON reports and their validation/verification by independent organizations. After successful validation and verification, SOCIALCARBON credits may be issued through the Markit Environmental Registry.

Project Cycle

Stage

SOCIALCARBON Cycle

 Selection of baseline and monitoring methodologies

 

 

1

Getting started – Prepare your SOCIALCARBON indicators - The indicators are project specific and co-developers may choose between adapting existing indicators or creating new. SOCIALCARBON indicators receive scores ranging from the worst scenario (level 1) to the ideal situation (level 6) that point to degrees of sustainability correlated to six aspects: social, human, financial, natural, biodiversity and carbon.

Project Design Document (PDD)

 

2

Elaboration of SOCIALCARBON Report - This will define a baseline for assessing the project’s contribution to sustainable development. Collect data used to score the indicators through participative methods, like interviews, questionnaires or meetings with stakeholders. Then summarize it in a Report following the template.

Validation

3

Choose one organization to certify the SOCIALCARBON Report – Is an independent process from the PDD, but Designated Operational Entities (DOEs) can complete the validation and verification procedure both for PDD + SOCIALCARBON Reports at the same time. Bureau Veritas, TUV Nord and TUV Rheinland are reputable and renowned DOEs that certify SOCIALCARBON.

Monitoring & Verification

4

Monitoring and verification – elaborate a SOCIALCARBON Report for each monitoring period (of the carbon accounting standard used) and submit it to independent verification to demonstrate projects contribution to sustainable development, based on the indicators. Achieving sustainability is not a quick and easy task; rather, it is a long process of continual improvements. After the first commercialization of carbon credits, project proponents:

  • Must demonstrate goals for improvement and provide evidence that they are being achieved.
  • Will not be allowed to present a decrease in the same aspect for two consecutive monitoring periods.

 

VER Issuance

5

After successful verification, you may issue the SOCIALCARBON credits through the Markit Environmental Registry. After initial issuance, the credits may be transferred to other registries Request the registration of a SOCIALCARBON project or credits to Markit. This request must be accompanied by corresponding SOCIALCARBON documentation.

Commercializatin

6

When credits are bought, the SOCIALCARBON Registry transfers the credits from the developer to the buyer. When the primary buyer retires the credits, they will also be retired by the registry from which they were purchased. Buyers of SOCIALCARBON credits include The World Bank, First Climate, JP Morgan, World Energy, Eco-act, CantorCO2e and igogreen.

 

If you wish to apply SOCIALCARBON in your projects, please contact info@socialcarbon.org.