The Planetary Carbon Standard (PCS) is revolutionizing how carbon credits are created, managed, and verified. Designed for accessibility, transparency, and efficiency, PCS empowers project developers to offset emissions and make a meaningful impact on climate change. Whether you are involved in conservation, afforestation, or renewable energy projects, this guide will walk you through the advanced steps for leveraging PCS to sell carbon credits effectively.
FAQ
What makes PCS different from other carbon credit standards?
Are carbon credits transferable or tradable internationally?
How does PCS ensure transparency in the carbon credit market?
What types of projects are eligible for carbon credits under PCS?
Can I sell Carbon Credits From My Land?
Can I Get Carbon Credits for Planting Trees
Table of Contents
Planetary Carbon Standard Technology and Functionality
Following our introduction article to our Planetary Carbon Standard, here is a selection of visuals detailing our technology and functionality.
Comparison of Carbon Credit programs with PCS
PCS is low-cost, easy to understand, and most importantly, wholly accessible in comparison to the currently existing standards. This was done so by looking through the mechanism of previous standards and implementing the best qualities they conveyed into the PCS blueprint. Further technology such as AI and Machine Learning (ML), Data Science are used from the Carbon Project Design (CPD) document creation process ensuring a baseline measurement.
* Disclaimer: The comparison presented is intended solely for the purpose of demonstrating the capabilities of the technology. It is not meant to challenge, undermine, or belittle any organisation, or system. The goal is to provide clarity and showcase potential applications, without any implications of superiority or criticism.
Project Background Requirements
When developing a project under the Planetary Carbon Standard, the following key components must be addressed to ensure compliance, transparency, and effectiveness:
Type of Project Activity: Clearly define the specific activities involved in the project, such as conservation, afforestation, or reforestation.
Location of Project Activity: Provide precise geographical details of the project site, including coordinates and regional specifics.
Project Ownership: Identify and document the legal owners of the project, including any partnerships or shared responsibilities.
Legal Compliance: Ensure that the project adheres to all applicable local, national, and international laws and regulations.
Project Eligibility:
Specify the project’s start date.
Define the operational lifetime of the project.
State the crediting period for which emissions reductions or removals will be accounted.
Sustainable Development Goals: Highlight how the project aligns with and supports broader sustainability objectives, such as economic growth, social inclusion, and environmental protection.
Environmental Impact Assessment: Assess and document the project’s potential effects on local ecosystems and biodiversity.
Technology Applied: Provide detailed information on any technologies or methodologies used in project implementation and monitoring.
Non-Permanence Considerations: Address risks related to the non-permanence of emissions reductions, including measures to mitigate such risks.
Baseline and Baseline Methodology:
Describe the baseline scenario, detailing land use prior to project initiation.
Explain the methodology applied to establish the baseline, ensuring it reflects project-specific and sectoral contexts.
Demonstration of Additionality: Clearly demonstrate how the project provides emissions reductions or removals beyond what would occur in the absence of the project.
Monitoring Methodology and Tools: Outline the methods and tools used to monitor emissions reductions, removals, and other project outcomes.
Monitoring Plan: Develop a comprehensive plan detailing how data will be collected, analyzed, and reported throughout the project lifecycle.
Monitoring of Leakages: Identify and quantify any potential emissions leakages resulting from the project and describe mitigation measures.
Quality Control (QC) and Quality Assurance (QA): Detail procedures to ensure accuracy and reliability in monitoring, data collection, and reporting processes.
Quantification of GHG Reductions and Removals:
Estimate baseline net greenhouse gas (GHG) removals by sinks.
Quantify potential leakages.
Calculate the overall GHG reductions and removals achieved by the project.
Socio-Economic Impacts: Assess and report the project’s impact on local communities, including economic benefits, job creation, and social well-being.
Stakeholder Consultation: Document the consultation process with stakeholders, including feedback received and how it has been addressed in the project plan.
How to Apply for PCS Certification
Registration
The Company seeking PCS services should log in to the website and complete initial registration formalities online on the PCS Web Portal. Once the required details are furnished and registration fees are paid, SavePlanetEarth (SPE) will create an account for the company.
Evaluation of the Carbon Project Document
After registration, the Company should update details in the “CPD Template” on the website and in the database.
Inhouse experts will review the CPD, inform and provide feedback on the CPD within 10 days after submission. Any other information required should be submitted upon request. The evaluation process will start after the CPD review.
Verification
The verification of project will be done by a third-party company completely independent of SPE/PCS.
Validation
Validation of the project will be done after completion of the verification process. A certificate of validation will be issued after validation of the project and logged on the blockchain.
Disclaimer
The carbon development company should provide written confirmation on the sale of carbon credits before issuance of the certificate of validation. If the Company is using the SPE Carbon Credit Marketplace (SPECCM) platform for sale of carbon credits, a value shall be charged as a royalty fee. If a company decides to sell the carbon credits at any other platform than the SPECCM, a percentage of total value shall be charged as a royalty fee.
Fee Structure for Planetary Carbon Standard
The PCS methodology is available to small and medium landowners who would otherwise not be included in the incentivisation of green projects. For those projects there is a case-by-case charge for onboarding which is affordable and in some cases pro bono.
You can inspect a simplified version of our PCS fee structure regarding carbon credit evaluation and validation for nature-based and renewable energy projects down below. NOTE: Waste Management is now complete and will be featured here shortly.
Nature-Based and Renewable Energy Projects:
Carbon Credit Issuance
Carbon credits will be designed similarly to NFTs and will become digital certificates on the blockchain for auditing, ownership and retirement thus fully transparent. We will only be able to mint carbon credit certificates backed by certified carbon credits project proponents have earned (ex-post). We will also mint carbon credit certificates for other companies that want to sell their carbon credits on our platform. However, they will be required to verify that their carbon credits are adequately certified through the strict protocols of the Planetary Carbon Standard.
Carbon credit certification entails getting external regulators such as Verification and Validation Bodies (VVBs) to approve various environmental projects, including renewable energy, planting trees and mangroves, recycling, cleaning beaches, oceans, and more.
Each carbon credit will equate to one ton of carbon emissions being offset. Every carbon credit that is offset will be traceable back to the wallet address as it is all tracked on the blockchain, making whole process transparent and legally verifiable.
Retirement of Carbon Credits
The integration of Planetary Carbon Standard (PCS) Registry, SavePlanetEarth (SPE) Marketplace, and blockchain technology creates a seamless and transparent process for issuing and retiring carbon credits. This integration is achieved using APIs that enable communication and data exchange between these platforms.
Key Components:
Blockchain Integration:
- Ensures transparency and immutability of carbon credit transactions.
- Stores transaction hashes to verify the integrity of data.
PCS Registry:
- Maintains a centralised database of carbon credits.
- Manages the issuance and retirement of carbon credits.
- Provides endpoints for external systems to interact with the registry.
SPE Carbon Credit Marketplace:
- Facilitates the buying, selling, and retiring of carbon credits.
- Updates its database based on the PCS registry's data.
- Provides endpoints for PCS registry and other systems to interact.
Issuance and Retirement of Carbon Credits(Advanced)
Issuance Process:
When carbon credits are issued, PCS portal updates the marketplace database.
Endpoint: POST /marketplace/xxx/issue
Parameters:
Project ID: Unique identifier for the project.
Issued CC: Number of carbon credits issued.
Retirement Process:
When carbon credits are retired, marketplace notifies the PCS registry.
Endpoint: POST /pcs/xxx/retire
Parameters:
Project ID: Unique identifier for the project.
Date: Date of retirement.
Vintage: Year of the carbon credits.
Serial Number: Unique serial number of the retired credits.
Quantity Retired: Number of carbon credits retired.
Activity List Retrieval:
Retrieves full activity list for a project based on the serial number.
Endpoint: GET /marketplace/xxx/activity
Parameters:
Serial Number: Unique serial number of the project.
Data Flow and API Integration
Issuance of Carbon Credits:
PCS registry issues carbon credits and updates the marketplace.
The marketplace database is updated using provided issuance endpoint.
Retirement of Carbon Credits:
When carbon credits are retired, marketplace calls the PCS registry retirement endpoint.
The registry updates status of the carbon credits to "retired" and stores transaction details.
Activity List:
The marketplace can request full activity list of a project using the serial number.
The registry returns a detailed activity log, including issuance and retirement events.
The integration of PCS Registry, SPE Marketplace, and blockchain technology ensures a transparent and efficient process for managing carbon credits. By using APIs to communicate between the platforms, the system maintains accurate and immutable records of carbon credit issuance and retirement, maintaining trust and reliability in the carbon credits market.
Do you want to become a partner to start generate carbon credits from your project? Visit our website and we will help you out.
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