This is part of our commitment to supporting our clients and their positive actions and becoming a trusted partner for your business.
We use rigorous selection criteria and due diligence for carbon credits, Renewable Energy Certificates (RECs) and onsite energy technology. All Australian Carbon Farming Projects comply with government approved methodologies.
As part of our commitment to best practice, we are aligned with a number of important industry bodies and business partners.
We supply only the highest quality carbon offset credits accredited under international standards. We apply rigorous selection criteria and conduct thorough due diligence on all new projects in our portfolio. We manage and retire credits on behalf of our clients on robust independent registry systems, and provide full access to project documentation on our website. We follow international best-practice in all of our carbon management services, and undergo independent audits of our core activities.
Carbon offset credits
Climate Friendly currently supplies Verified Emission Reductions (VERs) issued under the following standards, which can be used to offset all types of greenhouse gas emissions (electricity, gas, travel, waste, etc):
• Verified Carbon Standard
• Gold Standard
These standards ensure that the projects are real, are 'additional' to business-as-usual (i.e. would not have happened in the absence of carbon finance) and have not created negative social or environmental impacts. They also ensure that the emissions reductions have been accurately quantified, are permanent and have been associated with unique traceable credits.
Both of these standards are endorsed by ICROA, and they are also the only voluntary carbon offset standards currently compliant with the Australian Government's National Carbon Offset Standard (NCOS).
Climate Friendly also applies additional selection criteria and performs its own due diligence on all new projects. This includes limiting the portfolio to technology types that make the most valuable contribution to the creation of a sustainable energy future, ensuring that the timing of emission reductions is closely matched to those of the emissions to be offset, and performing additional checks on project 'additionality' and social and environmental impacts.
All carbon credits that we purchase are held in accounts on 3rd party-maintained registries, specifically designed and approved for these products. These registry systems operate in much the same way as those used in the global financial markets, and are often operated by the same organisations. All products listed in these registries have unique serial numbers for tracking and management purposes, which ensures traceability and avoids double-counting of credits.
All offsets sold to our clients are subsequently 'retired'. Retirement is an irreversible action whereby VERs are transferred to designated retirement accounts on the registries, from which they can never be withdrawn and re-sold.
All of our carbon farming projects are done according to strict government approved methodologies. Our partner, Australian Carbon Traders, has also contributed to the creation of specific government approved methodologies, giving us access to exceptional expertise within this field.