Companies and Business Groups Collaborate to Avoid Double Counting in Carbon Markets

11th December 2018

At the 24th Conference of the Parties held in Katowice, Poland, Natural Capital Partners joined more than 40 other companies and organisations, including the International Emissions Trading Association (IETA) and We Mean Business, to call for the development of sound carbon accounting mechanisms under the Paris Agreement.

Specifically, the Katowice Declaration on Sound Carbon Accounting makes the case for an accounting framework that will eliminate the risk of carbon emissions reductions being double counted. Avoiding double counting will provide businesses with clarity and certainty around purchased carbon offsets, enabling them to make credible claims of emissions reductions and carbon neutrality. We are committed to protecting and enhancing the reputation of our 300+ clients, including those who have achieved CarbonNeutral? certification by following The CarbonNeutral Protocol, which states that retired credits must not be “applied to multiple subjects/time periods and could not in any way be deemed to have been double counted” (page 31).

Led by the United Nations Framework Convention on Climate Change (UNFCCC), participants of COP24 are preparing to finalise guidance for the implementation of the Paris Agreement. "The Paris rules on carbon accounting should support international market linkages that lower costs, spur technology deployment and preserve competitiveness," said IETA CEO Dirk Forrester. "These are all imperatives for business to scale-up climate action."

Without such a framework, companies could claim emissions reductions for their own reporting, while countries could use those same reductions to contribute to their Nationally Determined Contributions (NDCs). Avoiding double counting will also ensure accurate national and global emissions figures.

Over the last 20 years, Natural Capital Partners has contracted more than 28 million tonnes of CO2e on behalf of our clients, from 368 projects in 49 countries. Contact us to discuss how we can help you achieve your emission reduction goals.

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