Since the signing of an MoU in September 2017 to collaborate on a measuring, reporting and verification (MRV) system for the R20-BO value chain and Sub national Climate Fund (SnCF), R20, BlueOrchard, Gold Standard and myclimate have come up with a draft set of guidelines for certifying the SnCF process vis-à-vis Gold Standard for the Global Goals. In addition, the partners have identified the need for a separate set of guidelines for projects that may wish to claim products (eg. carbon credits, renewable energy certificates) once they are invested in and operational.
Following an MRV workshop hosted by Myclimate on the 18th of December, in Zurich, the partners have decided on a number of next steps which include:
- narrowing down what MRV actions each partner will do and when along the R20-BO value chain
- ensuring that the different MRV requirements are compatible with the processes of the pre-investment facilities and integrating the MRV deliverables into the feasibility study.
In addition, partners will better refine the different indicators that could be reported on for each project type. These indicators include tons of GHGs reduced, number of jobs created, number of people with improved access to energy and/or basic services (eg. waste collection), etc. These indicators will be closely linked with the targets and indicators of the Sustainable Development Goals (SDGs) to ensure that SnCF impact reporting is in line with an ambitious global development agenda, including the Paris Climate Agreement.