With 200 GHG reduction projects submitted so far, the Global Carbon Council (GCC) hosted a workshop on March 7 titled ‘Calibration Workshop for GCC Project Owners/Developers’, gathering 50+ participants from different continents. The virtual session focused on enhancing the understanding of project owners and consultants about various aspects of GCC program.
As a voluntary carbon market platform, GCC certifies emission reductions of projects executed locally, regionally and globally for a greener, cleaner and safer world. In doing so, the program helps projects identify and pursue GHG emission reduction opportunities. By issuing tradeable credits to projects, GCC carbon market supports the development of green projects, while assisting organizations to meet their net-zero ambitions through carbon offsetting of unavoidable emissions. To truly catalyze climate action on the ground, it is imperative for project owners to thoroughly understand carbon credits issuance process and access to the IHS Markit Registry. To this end, this calibration workshop provided project owners with a comprehensive overview, and shed light on GCC mechanisms, processes, labels and the roles and responsibilities of project owners registered with GCC.
Familiarizing the attendees with GCC’s project portal, experts from GCC’s operations team guided project owners on the process of submitting their projects, criteria of assessment used by GCC’s technical team, requirements related to the verification process and accompanying documentation, as well as the steps involved in obtaining GCC-approved carbon credits (ACCs). Apart from carbon credit issuance, GCC program also regulates and facilitates transferring and trading of GCC carbon credits in the carbon registry. Elaborating on the next steps towards trading, the workshop also highlighted the role of IHS Markit – a carbon meta-registry that facilitates the trade, transfer and/or retirement of GCC-approved carbon credits (ACCs).
The GCC Program encourages and helps stakeholders to demonstrate climate leadership towards achieving a low-carbon economy and contributing to the Paris Agreement target of restricting global warming to 2oC (1.5oC as much as possible). In this context, the workshop was part of the continuation of GCC’s overarching objective to build climate action capacity. It is worth mentioning that the GCC is holding a similar workshop for a different group of project owners/developers of projects registered in the GCC portal on Tuesday 15 March 2022.
