Verifiable Reductions

Greenearth.Finance provides a digital MRV to track carbon emissions as well as carbon reductions. Its is from these carbon reductions that carbon credits are issued.

MRV - What Is It?

Measurement, Reporting, and Verification (MRV) refers to the multi-step process to measure the amount of greenhouse gas (GHG) emissions reduced by a specific mitigation activity, such as reducing emissions from deforestation and forest degradation, over a period of time and report these findings to an accredited third party. The third party then verifies the report so that the results can be certified and carbon credits can be issued.

MRV seeks to prove that an activity has actually avoided or removed harmful GHG emissions so that actions can be converted into credits with monetary value.

MRV Process

To start, every emission reductions program must determine a “baseline” or “reference level” against which performance is measured periodically. The assumptions upon which these baselines are established and the accounting methodologies used to calculate emission reductions vary by sector and program scale. Standard-setters, such as the World Bank, define the requirements that these baselines and MRV activities must meet to ensure the highest accounting standards for the most trustworthy results.

Once project or program activities are underway, data is collected and processed to calculate emission reductions achieved against the baseline during the monitoring period. Depending on the program, data collection could entail tracking the operation of clean cookstoves, reading electricity meters on home solar power units, or surveying changes in tree cover, among other activities.

Once emission reductions are verified, the standard-setter certifies them, signaling the applicable emission reduction transaction registry to issue Emission Reduction Credits (ERCs). The entire MRV cycle can take a year or more to complete.

Innovation In MRV

Current methods to measure, report, and verify emission reductions can be costly and time-consuming, often relying on manual operations. Digital technologies can streamline data collection, processing, and quality control in MRV processes, helping to reduce the cost and time to ERC issuance.

Digital MRV systems will reduce the cost of generating carbon credits while increasing transparency and security. They will enable more efficient verification and the move toward real-time generation of carbon credits. Innovations in MRV can help expand climate action worldwide and unleash the potential of climate finance and the carbon marketplace to combat climate change.

Greenearth.Finance employs a dMRV platform that is policy agnostic, immutable and transparent.