Carbon offsetting
REEEP’s Voluntary Carbon Offsetting scheme is a mechanism by which governments (both local, regional and national), companies and other institutions can outsource the purchase of CDM or Gold Standard Verified Emissions Reductions (VERs) to REEEP as part of a carbon reduction strategy.
REEEP carbon offset scheme
The advantage of the REEEP scheme is that it brings its clients the assurance that REEEP will use its knowledge and global network to undertake the background checks, and administration with financial institutions and project developers, to ensure that clients of the scheme receive carbon credits from reliable projects which look to develop renewable energy and energy efficiency within a region, and are sympathetic to local needs.
The UK’s Foreign and Commonwealth Office (FCO) was the first organization to use the scheme. In 2006/07, a “pilot” trade was closed by buying Certified Emission Reductions from a wind farm in South Africa. This deal offset 40,000 tonnes of carbon emissions, generated by the air travel of FCO Ministers and Staff based in the UK, in 2004. The REEEP scheme provided a solid project selection procedure where in cooperation with REEEP’s Global Network, other NGOs, carbon brokers and the respective client, the most appropriate and highest quality projects were selected for offsetting.
The carbon credits that the FCO purchased from South African wind developer, Genesis Eco-Energy (Pty) Ltd., through the REEEP scheme was globally the first major travel offset programme by a government department. On sale of these credits, Davin Chown, Chief Operations Officer of Genesis Eco-Energy, said,
“The sale of carbon credits to the UK (FCO) will help provide us with financing for our wind project and will raise help raise awareness for further projects within the developing world and particularly Southern Africa”,
The publicity and press releases REEEP generated following the announcement of deal, enabled Genesis to gain further funding for projects in Southern Africa.
REEEP though its global network of partners, its regional secretariats and local focal points, can identify and contact project developers who are selling carbon credits, and then independently verify the information they provide. REEEP also co-operates with the Gold Standard Foundation (www.cdmgoldstandard.org) to provide a further quality assurance label for the projects and credits its clients purchase.
REEEP looks for small scale projects which cover renewable energy and energy efficiency, and also have sustainable development benefit for the local population. REEEP places a priority on projects which can be replicated and/or scaled-up.
In the field of Renewable Energy, REEEP looks for photovoltaic, solar thermal, wind, biofuel, hydro and geothermal projects, and in Energy Efficiency, looks to support projects which improve energy efficiency in the domestic, public, agricultural and industrial sectors.
The advantages of the REEEP scheme:
- Hassle- free - REEEP buys the carbon credits on behalf of the client, with the negotiations being made between REEEP and the project developer (seller).
- Verification – REEEP uses its international network and regional secretariats to source, verify, and monitor projects.
- Promotion – REEEP uses its events, press releases, and media outreach to promote the project and the client, both locally and internationally, in addition through its contacts it can try and organise a high-level political site visit to the project bringing further media attention. The purpose of this promotion is to attract further private investment into similar projects.
- Capacity-building– REEEP looks to select projects which will build local awareness, that are sustainable, look to build local capacity and are replicable within the region.
Contact REEEP
If you need any further information, or you would like to join the scheme, please contact: Phone: +43 1 26026-3425 or Email: info@reeep.org
For other information on offsetting see: