The 7 criteria of a high quality carbon offset project

When buying carbon offsets, it is critical to make sure you select a project of high quality. Like anything in this world, offset projects can be done really well or not so well.

A very important identifier for a high quality carbon offset project is a third party verification standard such as Gold Standard or VCS.

But what framework do these third party certification bodies use to assess projects on their quality?

There are 7 categories that a project is assessed against to be considered “high quality”:

1. Additionality

Without the revenue generated from the sale of carbon offsets, could this project have survived?

Ensuring that the emissions reductions you are paying for are additional and not reductions that did not require outside financial support to realize is critical.

2. Permanence

Are the emissions reductions generated from this project permanent for the lifespan of the project?

Permanence refers to the emissions reduction to continue for a stated life span, namely the life span of a given project. An example of this for a tree planting project would be that trees have a natural life span, which is used to forecast the total emissions reduction of this project. Permanence here would be a guarantee that the trees will remain in place over their life span instead of being cut down prematurely.

3. Verification & Audited

Is the project being regularly audited by a third party verification standard?

Having a third party verification standard body or firm auditing an offset project is a key component of transparency. It is important to know that the project met a certifying body's standard and is operating as advertised, providing real reductions, and using the funds legitimately.

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4. Unique Ownership

Are you provided proof that the offset was yours and only yours?

This ensures that the same certificate cannot be sold twice to two separate buyers. When purchasing a carbon offset, you should receive a certificate showing proof that an offset was purchased, logged in an international offset market registry, and retired from the market to never be sold again. Keep in mind that if you're not purchasing direct from the project itself, these certificates may be provided to the company you are purchasing offsets from. Inquire!

5. Leakage

Does this carbon offset project cause emissions elsewhere?

For example, if an offset project prevents a forest from being cut down, is the logging company just going to cut down a different forest, resulting in no net carbon decrease?

6. Stakeholder Consultation

Were local communities consulted before the project was developed?

Engage community leaders in the project development process so that the existence of this project does not unwillingly affect the lives of local communities.

7. Timing

When did the emissions reductions actually happen?

Ensuring the carbon reductions being supported by the project are current.

Not all projects are created equal. It’s important to be informed about the attributes of a high-quality carbon offset project so you can be confident you’re making real, significant impact.