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THE CAPTURIANT STANDARD
The Capturiant Standard Summarized
Environmental and Sustainable Development Benefits (ESDBs) verified under The Capturiant Standard and minted as Environmental Asset Credits (EACs) shall meet the following principles:
1. Quantifiable baseline that is real, measurable, and unique
2. Third-party verification that is both independent and transparent
3. All projects must be complete, have a reasonable approximation of permanence, and show additionality
(Collectively referred to herein as “The Capturiant Standard”).
The Capturiant Standard Principles
Real: All ESDBs generated by projects must be proven to exist as described by the methodology.
- KYC of owners and project proponents
- Ongoing AML for financial components of projects
- Direct connections to the people, organizations, and governments involved
Measurable: All ESDBs must be quantifiable using recognized and approved measurement tools against a legitimate baseline.
- Baselines need to be established
o For annual/cyclical projects
● 3 years of data is minimum requirement
o For longer time-cycles projects
● A case-by-case consideration can be requested
o For preservation projects
● Dynamic Baselines will be formulated and updated
● Rate of change for loss prevention is not enough
o For emission reduction projects
● Either three (3) cycles of proven emission records or proof of standard practice
- Scientific approach to quantification is a must. If it cannot be calculated it does not qualify
- Acceptable Error Factors below 10%
o Avoid compounding errors such as Estimates of Approximations
o Density and Volume
- Device for ongoing monitoring is helpful, but mandatory
o Calibration of instrument is important
o Results must be shareable and auditable
Unique: Each EAC must be unique and must only be associated with a single ESDB. There must be no double counting or double claiming of the ESDB on any level.
- Transactions between companies must be reflected in national carbon accounting
o Distinguish carbon tallies for national inventories vs company reporting
● Identify if a company’s total emissions (e) are being included in national total e
● If reduction or sequestration is sold across national borders, there must be clarity as to which national inventory claims the ESDB
- EAC’s cannot be listed on multiple registries simultaneously
o Exception allowed if an OCO (one-cancels-the-other) agreement is in place
- The same asset cannot be sold to two distinct buyers
- Assets can only be retired one time and only by the registered Controller
Additional: ESDBs must be additional to what would have happened under a business-as-usual scenario if the project had not been carried out.
- Legal
o Baseline adjusted by legal requirements that mandate certain practices
o Governmental promptings or incentives to implement the project
- Financial
o Demonstrate a marginal benefit from implementing the project, display a net gain in net total carbon drawdown based on monetary incentives
- Barriers-to-entry
o Demonstrate how cultural, social, or technical barriers were overcome by project implementation
- Common practice
o When emission reduction or sequestration activities reach such ubiquity industry wide that their use is expected, they are no longer eligible for crediting
o When a practice has been implemented long enough to establish a new baseline, further crediting will be set from newly established levels
- Lifecycle analysis (LCA)
o If a "business-as-usual" approach still results in net deposits of carbon or carbon equivalent, then additionality is satisfied from baseline of net zero
● Measurements for baselines can include the next best alternative or be a weighted average by common usage rates of similar effects.
- Clear Benefit
o Projects not meeting any of the above metrics for additionality, yet can demonstrate clear and defined climate benefits, will be considered on a case-by-case basis
Independently Audited: All ESDBs must be verified to a reasonable level of assurance by a Verification Body that is accredited or licensed and has the expertise necessary in both the country and sector in which the project is taking place.
- No undisclosed conflicts of interest
o Paid by, but not beholden to, project developer
o Distinct from the validation body of same project
o Disclosure of any potential issues that could arise
- Qualified 3rd party verification body is to be approved by standard
o Submission of application, including proof of qualifications
o Review process to assess sector expertise
Transparent: There must be sufficient and appropriate public disclosure of ESDB-related information to allow intended users to make decisions with reasonable confidence
- Certain details of project types, methodology, location, duration, etc. are public information
- Confidential information is given a space to be protected in the review process
Complete: All ESDB activities must be accounted for and reported on within the chosen project boundary. Any specific exclusions must be disclosed and justified.
- Leakage must be accounted for specifically
- Projects must show appropriate risk assessment and efforts toward the “no net harm” principle
- Considerations must be sought and made for all relevant or affected stakeholders
Permanent: Adequate safeguards are in place to minimize risk associated with reversals of ESDBs and a system exists to guarantee any assets associated with the reversed ESDBs will be replaced or compensated
- Legally
o Deeds with clear ownership rights
o Enforceable contracts stipulating a conservation agreement
- Economically
o Fees or fines for breaking the conservation agreement
o Claw backs and penalties for replacing credits reversed
- Durability
o Generally targeted at 100 years
o Another way to proxy permanence
o PV calculation of durability considerations
● Is it more important for present removal to push the timescale back, even if only for 50 years, than it is to not remove any at all?
- Reversibility risk
o Higher risk leads to higher buffer pools for certain project types
o Risk mitigation must be specified in PDD submitted for projects
[Last Updated on 08.01.2023]