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Future Earth Ltd was contracted by GOGLA to help the off grid solar sector navigate the Voluntary Carbon Market as a potential revenue stream to enable last mile delivery of electricity.
Future Earth Ltd was contracted by GOGLA to help the off grid solar sector navigate the Voluntary Carbon Market as a potential revenue stream to enable last mile delivery of electricity.
On behalf of GOGLA the Global Off Grid Lighting Association, funded by GET.invest and the IKEA Foundation, Future Earth arranged and moderated a 6-part webinar series on the Voluntary Carbon Market (VCM). The aim was to:
Increase the understanding of the VCM as an additional revenue stream by exploring its challenges and opportunities.
Showcase relevant initiatives in the off-grid solar energy sector, make new connections, and share insights and experiences.
Explore the requirements for the off-grid solar sector to access carbon finance, to further identify actions to help increase revenue flows to the sector.
Carbon credits represent GHG emissions that have been reduced, avoided or captured through projects that are verified according to credible methodologies and standards. Each carbon credit is equivalent to one metric ton of carbon dioxide equivalent (CO2e).
Context
Context
The significant emissions reduction potential of off-grid technologies can facilitate financing for scalable investments and social impact projects by converting this potential into carbon credits. Depending on the business model, project developers and companies looking to reduce carbon emissions, can generate additional income by selling carbon credits, to help cover operational expenses.
Approach
Approach
Future Earth designed and delivered the capacity building series with Catherine Allinson moderating and summarising the expert information provided for GOGLA members over the course of the series. The summary is available on request via our Contact Us page. GOGLA contributed with some excellent blogs summarising several of the sessions.
Future Earth was also asked to research and author guidance on the specific carbon credit accounting methodologies most suited for use by the off-grid solar sector. Again, this is available on request via our Contact Us page.
Outcome
Outcome
The webinar series reached audiences in over 20 countries; engaged over 30 expert speakers from government, the off-grid sector, funders, financiers, standards agencies, trading platforms and more.
Panel speakers gave participants a general introduction to the VCM followed by thematic sessions on supply and demand side of carbon credits, the role of intermediaries, and relevant regulatory/industry standards.
1. Voluntary carbon market and the off-grid solar sector
2. Evolution of carbon credit methodologies for the off-grid sector
3. Integrity is everything: monitoring and verification to build trust and add value
4. Innovative intermediaries - disruptive new business models in the carbon finance value chain
5. What drives demand for off grid solar sector carbon credits?
6. Regulations, country plans and the future of the VCM
The supporting guide introduced the rationale for using the voluntary carbon market as a way to raise finance or offset emissions. It provides readers with an overview of the co-benefit and impact areas that off-grid solar projects could have, according to the United Nations Sustainable Development Goals (SDGs); and gives details of the pros and cons of selected methodologies for a range of off grid solar technologies under the leading VCM standards.
Impact
Impact
The guidance helped off grid solar technology providers understand the benefits and pitfalls of the VCM, the process to develop projects and the most relevant carbon mitigation methodologies when developing projects under the VCM.
Resources
Available on the GOGLA member website: Making carbon markets work for the off-grid solar sector
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