What additional standards and guidance are available for businesses wishing to purchase offsets?

Additional information is available for each of the following:

• Australian standards and rules
• International standards and rules

 

Australia

The only existing regulatory standard in Australia relating to carbon credits is the NSW Greenhouse Gas Abatement Scheme (GGAS) Rule, although the Australian Greenhouse Office's Greenhouse Friendly program has a certification standard for products and services.

Standards and rules

NSW Greenhouse Gas Abatement Scheme (GGAS) Rules
GGAS Benchmark Rules enables the creation of accredited abatement certificates, and rules are available on the website. Companies outside the scheme can purchase abatement certificates to offset their emissions.

AGO Greenhouse Friendly Abatement Verification Guidelines
The Greenhouse Friendly program has a certification process for approved abatement projects, as well as certifying products and services as eligible to use the Greenhouse Friendly trademark. The website has information about eligible projects and guidance.

Origin Energy Carbon Reduction Scheme (CRS) Rules
The CRS Rules relate to compliance and verification of renewable and low emissions energy generation and other reduction activities. These enable the creation of carbon offsets. The rules are not currently published on the Origin website.

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International

A wide range of international standards are available. Linked below are some of the most well-recognised and relevant to the Australian context.

Standards and rules

Kyoto Protocol mechanisms
Under the Kyoto Protocol there are two programs by which emissions reductions can be certified - the Clean Development Mechanism (CDM) and Joint Implementation. These programs provide for certification of project-based emissions reductions, and include rules for baselines, additionality, monitoring, reporting, verification and certification, all outlined on the website.

CDM Gold Standard
The Gold Standard was created to meet CDM (see Kyoto Protocol above) requirements, but has a strong focus on sustainable development benefits and restriction on technology types (no forestry, large scale hydro or energy from waste projects can be included). It provides a consistent approach to assess the contribution of project towards sustainable development, and is endorsed by a number of NGOs.

Gold Standard VER
As for CDM Gold Standard, but specifically for the voluntary sector with simplified validation and verification processes. Aimed at small scale and micro scale projects that would not receive funding under regulatory schemes. The Gold Standard VER has a strong focus on sustainable development benefits.

Voluntary Carbon Standard
The Climate Group, the World Economic Forum and the International Emissions Trading Association are developing this standard for exclusive use on the voluntary market. The standard is based on CDM framework and creates a tradable Voluntary Carbon Unit (VCU).

Greenhouse Gas Protocol for Project Accounting and the Corporate Accounting and Reporting Standards
Developed by the World Resources Institute and World Business Council for Sustainable Development (WRI/WBCSD), this protocol is concerned with measuring and accurately accounting for GHG emissions. This Protocol is often used as a basis for other carbon credit standards.

International Organisation for Standardisation 14064:2 and 14064:3
ISO 14064:2 specifies principles and requirements and provides guidance at the project level for quantification, monitoring and reporting of activities intended to cause greenhouse gas (GHG) emission reductions. ISO 14064-3 specifies principles and requirements and provides guidance for those conducting or managing the validation and/or verification of greenhouse gas (GHG) assertions.

UK Voluntary Code of Best Practice Discussion Paper
The standard will be voluntary and offset providers can choose whether to seek accreditation for all, or some, of their offsetting products. The Code proposes that the most suitable carbon credits for offsetting are those from the regulated market because they are the most robust and verifiable.

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