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The reduction projects

To provide the offsetting service, CLIMACT only invests in emission reduction projects that meet the requirements of the Kyoto Protocol and, in particular, the Clean Development Mechanism (CDM) provided for in Article 12 of this protocol.

These requirements aim to ensure the quality of the projects, their climatic efficiency and their participation in sustainable development.

When a project meets these requirements, it generates certified emission reductions (CERs).

The CDM’s Executive Board is the specialised body that certifies the emission reductions generated by the projects. This certification is only granted after the six following stages have been completed:

General description of the project

This document contains information on the methodology used to calculate the reductions generated by the project as well as the methodology to control these reductions (monitoring). The only methodologies that can be used are those approved by the CDM's Executive Board.

The document also mentions the period during which the project generates reductions. Furthermore, this document examines the environmental impact of the project and includes the comments made by the stakeholders it was necessary to consult.

Project validation

An independent expert authorised within the framework of the Kyoto Protocol assesses the project on the basis of the general description, in line with the requirements of the Kyoto Protocol. The validation criteria are mainly:

  • Additionality of the reductions

    A reduction is additional if it can only take place owing to financing as a result of the sale of CERs. On the contrary, a reduction that would have taken place anyway, without the financial resources from the sale of CERs, is not additional.

  • Permanence of the reductions

    Only emission reductions that are permanent are taken into account because they alone efficiently contribute to the fight against
    global warming.

Project registration

If the project is validated, the CDM’s Executive Board registers it as included in the CDM.

Monitoring the reductions (monitoring)

The monitoring methodology is applied throughout the project’s lifetime to measure the emission reductions actually generated.

Verification of the reductions

An authorised independent expert, other than the one responsible for project validation, carries out ex post the periodic determination of the emission reductions generated by a validated project. After this verification, the independent expert certifies that the reductions generated are
real, measurable and sustainable.

Issuing of CERs

Based on the certification of the independent expert, the CDM’s Executive Board issues CERs that represent reductions in emissions expressed in equivalent tons of CO2.

CLIMACT is convinced that only projects that are subjected to a control as strict as the one implemented within the framework of the CDM, offer sufficient guarantees to ensure an offsetting service that effectively contributes to the fight against climate change.

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Offset quality criteria

  • Project additionality: there would be no reductions in emissions without the financing provided by the sale of CERs.
  • Quantifiable reductions in relation to a baseline in the absence of the project by using accepted and transparent standard methodologies.
  • Permanence of reductions: the reductions are sustainable.
  • Unique attribution of CERs: guarantee of not financing the same reductions several times.
  • Control of projects in progress: verification of the reductions achieved.
  • Records: traceability of offsets and certificates.