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The Role of Registries
Registries serve as the backbone of the carbon market, offering a transparent and auditable trail for each credit to prevent issues such as double counting and greenwashing. They facilitate the trading of carbon credits by providing a reliable and accessible database of all transactions. In addition to record-keeping, many registries also develop their own methodologies that are used to certify projects.
Navigating Challenges and Ensuring Quality
Not all projects in a registry are inherently good. Despite their reputation, registries and the methodologies they endorse face scrutiny over the actual effectiveness of certain projects such as Verra’s REDD+ projects. There are many low quality carbon credit projects in the market, but there are also a lot of impactful, high quality projects. In order to navigate this and promote the highest quality projects, Senken has implemented an in-depth due diligence process that allows less than 3% of projects pass.
Examples of Different Registries
- Verra: Known for its Verified Carbon Standard (VCS), it is the largest and most recognised registry in the world.
- Gold Standard: Established by WWF and other NGOs, it focuses on projects that deliver both emission reductions and sustainable development benefits.
- Puro.earth: Specialises in certifying carbon removal credits, particularly through biochar, wooden building materials, and soil carbon sequestration.
- Ecoregistry: Offers a broad platform for various environmental credits certified using the Cercarbono standard.
- Clean Development Mechanism (CDM): Established under the Kyoto Protocol, it facilitates emission reduction projects in developing countries, allowing developed countries to earn emission reduction credits.
- Climate Action Reserve (CAR): Focuses on high-quality projects in North America, establishing standardised protocols for project development.
- American Carbon Registry (ACR): A leading registry for carbon credit projects in the U.S, providing rigorous methodologies for GHG emission reduction projects.
- Private Registries: Some organisations and project developers choose to run their own private registry instead of working with one of the established bodies.