7.1. Quantification of Greenhouse Gas Emissions
This is a key section of the methodology that outlines the equation for project developers to calculate the total CO2e reduced or removed in the project. Each project must complete the calculation individually, but the framework must be laid out in the methodology.
The calculation must account for all GHGs associated with a project, must be repeatable and verifiable, and must account for uncertainties.
We encourage methodology developers to think about dynamic baselining (i.e. including monitored variables in the baseline emission calculation, not just the project emission calculation) so that the baseline can be recalculated at every issuance event.
As per the ICVCM’s CCPs: “The GHG emission reductions or removals from the mitigation activity shall be robustly quantified, based on conservative approaches, completeness and scientific methods”.
Quantification Equation
ER = final emission reduction or removal calculated over the issuance period; equal to the number of carbon credits issued for that period.
BE = the baseline counterfactual emissions if the project activity did not occur
PE = the additional increase or decrease in emissions from the project activity
L = leakage, an increase in emissions elsewhere from a shift in activity
U = uncertainty discount for conservativeness against known and unknown uncertainties (usually a % discount)
Underlying Credit Value
The underlying credit value must equal one tonne of CO2e removed or avoided in the atmosphere.
Baseline approaches must be specified at the methodology level. Project-level deviations from baseline requirements are only permitted through the OCP's formal deviation process and require independent approval.
Calculations for CO2e must use the most current 100-year GWP value, which is provided by the most up to date IPCC assessment report. Currently it is the 6th report, published in August 2024, found here.
The calculation methods of the CO2e removed or abated should be aligned with ISO 14064 practices.
This is ensured within the methodology development process. In order for a methodology to pass, the expert panel must positively attest to the statement: “If a project developer complied with this methodology, would each carbon credit produced by the project represent one tonne of CO2e avoided or removed, considering baseline assumptions, additionality evidence, leakage treatment, uncertainty, and monitoring provisions?”
Parameters
Within the quantification calculation, there will be a number of parameters. In Section 9 (Monitoring Plan), the methodology must outline which variables need to be monitored for each project at each monitoring event (ideally identifying opportunities for digital MRV), and which variables are set at project proposal.
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