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Climate projects are initiatives aimed at reducing greenhouse gas emissions or increasing their absorption. These projects can include the use of renewable energy sources, enhancing production energy efficiency, restoring forest ecosystems, waste management projects, and more.

 

By implementing a climate project, a company can issue carbon credits that verify the reduction of greenhouse gas emissions by a certain amount, measured in tons of CO2e.

 

*Companies that issue carbon credits can sell them or use them to offset their own carbon footprint.*

HPBS can help you effectively develop and implement a climate project and issue carbon credits.

 

We have extensive experience in carbon regulation, base our work on international practices and standards, and ensure a personalized approach to working with our clients. As part of implementing climate projects, we offer the following services:

 

1. Analysis of the Company's Activities for Climate Project Potential:

  • HPBS experts will analyze the current state of the company and identify potential for reducing emissions or increasing greenhouse gas absorption.

 

2. Development of a Climate Project Implementation Methodology:

  • After analyzing global practices and understanding the specifics of the client's business, we will propose a climate project implementation methodology that best suits your organization and industry.

 

3. Calculation of Greenhouse Gas Emission Reductions:

  • Our experts will calculate greenhouse gas emissions before and after the implementation of the climate project and quantitatively assess the plans for issuing carbon credits.

 

4. Preparation of Documentation for Climate Project Implementation:

  • Our experts will prepare the project according to the requirements for climate projects in line with the adopted methodology. This includes scenarios for reducing greenhouse gas emissions, the timeline for the climate project, and the period for generating carbon credits. Additionally, validation and monitoring paths for the climate project and verification of the issued carbon credits will be detailed.

 

5. Expert Support for Implementing Measures within the Climate Project and Including Information in Relevant Registers:

  • We provide expert support for implementing measures within the climate project and for the process of including project details in relevant registers.

 

Climate projects are part of voluntary carbon markets. The main goal of the carbon market is to incentivize the reduction of greenhouse gas emissions through economic mechanisms that reward reduced carbon footprints and the development of clean technologies. Companies that prove their contribution to emission reductions issue carbon credits, which they can sell to recoup the costs of implementing climate projects. Organizations purchasing carbon credits aim to offset their carbon footprint, improving their image and supporting sustainable development.

Climate projects are implemented according to various international and national methodologies. Expert organizations develop these methodologies and ensure the functioning of voluntary carbon markets. The most common systems are CDP, VERRA, and Gold Standard.

 

In the Republic of Uzbekistan, requirements for carbon footprint compensation and carbon credit transactions are also starting to take shape. On March 7, 2024, the Cabinet of Ministers of the Republic of Uzbekistan issued Resolution No. 117 on the temporary regulation of projects related to greenhouse gas trading.

 

 

Additionally:

Automation of Greenhouse Gas Emissions Calculations

TALCO

What is CBAM?