Renoster Partners with Allied Offsets
Allied Offsets performs an essential function in the industry to increase transparency of retirements, project data and determine who is leveraging offsets ethically — something we are excited to contribute to with our quality assessments.
In July 2022, Renoster announced the release of our science-based review platform called the Mercury Rubric. We review nature based carbon projects, scoring them numerically to assess the the value of each tonne of carbon. A score of 1.0 equals above one ton of genuine carbon removals. Scores above 1.0 indicate that the project may be overly cautious, and should perhaps be issued with more credits. Scores below 1.0 indicate that the project has potentially been issued with too many credits.
Without transparency, climate outcomes can vary wildly.
One example takes place on the edge of the Amazon rainforest. Rio Preto and Manoa two projects that are identical on the surface. They share the same project developer and same start date.
However, according to Renoster’s analysis — Rio Preto has lost over 12% of its trees, Manoa has lost around 1%. Thus the two projects have very different outcomes. Each Manoa credit is worth 2.12 tons of CO2 equivalent, over 7.3 times better than Rio Preto. According to VERRA, you should pay the same price for either one.
“Understanding how much environmental good comes from offsetting a ton of carbon from a project is a key question for the industry, and something that Renoster is tackling head on with their quality scoring,” said AlliedOffsets founder Lars Kroijer.
The Allied Offsets dashboard allows users to better make sense of the voluntary carbon market by providing actionable and unique data. In addition to providing standardised data on projects, retirements, buyers of credits, brokers, detailed pricing reports, and more.
At Renoster, we’re excited for the analysis this partnership will unlock by pairing market information with quality.
