Mid January 2015, Emergent Ventures International issued the first Social Carbon & VCS credits in India. The project, co-developed with Carbon Clear, a UK based developer, has successfully finalized its verification process by the end of the 2014. The 15,000 tons generated by this 4.50 MW small hydro, run of the river project developed in the state of Karnataka has been transferred using the international registry APX.
On this recent achievement, the co-developers express their satisfaction. Developing “first of its kind” projects have various advantages. It diversifies the supply market and address a positive message to both buyers and developers that the voluntary carbon markets can still offer niche opportunities; it generates very strong connection between the project owner and the final buyer who has the chance to visit the project, meet and interview the workers, understand the challenges faced by the project and visualize the impact that the purchase of the carbon credits have on the viability of the project. The realization of a unique project also enables the creation of value where price competition loose part of its sense as no other projects is identical. EVI is proud of the results and look forward to analyze further opportunities of this kind in India or elsewhere.
The registration of the project required a one year effort during which EVI worked in cooperation with Social Carbon Standard to generate the Zero Point report, identify quantifiable social repercussions, define the limits of the project, justify the sustainability of the technology. The local populations were also involved during the process to express their questions and share their views. The project has been developed in respect of the rules and guidelines from the Verified Carbon Standard (VCS) and the Social Carbon Standard.
EVI is an experienced carbon developer with a portfolio of more than 150 projects registered and a portfolio of more than 20 millions credits under management.
January 20th, 2015