Monk Spaces conducted a Life Cycle Assessment (LCA) for a large-scale building materials manufacturer. The assessment aimed at evaluating the environmental impact of the production processes. Although the initial assessment did not specifically focus on alternate fuels, Monk Spaces recognized the potential of getting carbon credits due to the alternative fuels already used by the manufacturer. An initiative to calculate carbon credits was proposed to align the manufacturer’s emissions reduction strategies with the Science Based Targets initiative (SBTi) and leverage potential additional revenue from carbon credits.

Monk Spaces recommended pursuing Verra project verification to enable the manufacturer to secure carbon credits. Verra offers a variety of methodologies tailored to different industries and emission reduction strategies. To achieve verification for the manufacturer, the most appropriate Verra methodology (ACM0003) looks at partially replacing fossil fuels with alternative fuels or lower-carbon-emitting fossil fuels.

The methodology provided a clear framework for estimating the number of carbon credits the manufacturer could achieve through the transition to alternative fuels. A detailed estimation sheet for the manufacturer was created to calculate the baseline emissions and project emissions during the reference period using formulas outlined in the chosen Verra methodology. This approach empowers the manufacturer to quantify the carbon credits by shifting to alternative or less carbon-emitting fossil fuels.

Along with the carbon credits, potential revenue that could be generated due to carbon credits is also estimated for the manufacturer. Monk Spaces supported the manufacturer’s journey toward sustainability and corporate responsibility through this strategic partnership.