Carbon credits are measurable, verifiable emission reductions from certified climate action projects. These projects reduce, avoid, or remove greenhouse gas (GHG) emissions. They play a crucial role in various sectors, allowing businesses implementing emission reduction projects to earn credits or revenue through energy efficiency improvements, renewable energy installations, or reforestation efforts. Both businesses operating in regions with mandatory emissions reduction targets (compliance markets) and those voluntarily committed to sustainability (voluntary markets) can participate.

Projects must adhere to rigorous criteria to pass verification by third-party agencies and a review by a panel of experts at leading carbon certification standards like Verra and Gold Standard.

Monk Spaces helps in getting carbon credits through:

• Feasibility Study – Monk Spaces ensures compliance with an active methodology by defining project boundaries, identifying baseline emissions, quantifying project emissions, and estimating Verified Carbon Units (VCUs). This involves meticulous data collection, analysis, and reporting. The energy audit findings are compiled into an Excel sheet containing key performance indicators (KPIs) and a detailed report. This report estimates the potential revenue that can be generated from the project based on the potential selling prices of the carbon credits.
• Project Development – Ensuring compliance with leading carbon certification standards like Verra or Gold Standard, Monk Spaces guides clients through the rigorous project development and registration process. This involves project documentation, stakeholder consultations, validation by accredited third-party auditors, and formal registration with the respective registry. Monk Spaces also facilitates ongoing monitoring, verification, and issuance of carbon credits, adhering to the chosen standard’s stringent requirements.

Monk Spaces empowers organisations to navigate the complex landscape of carbon credit projects. Our services ensure regulatory compliance, environmental integrity, and the maximisation of potential financial benefits.