Abstract |
Because of concerns with the growing threat of global climate change from increasing concentrations of greenhouse gases in the atmosphere, the United States and other countries are implementing, by themselves or in cooperation with one or more other nations, climate change mitigation projects. These projects will reduce greenhouse gas (GHG) emissions, and may also result in non-GHG benefits and costs (i.e., other environmental and socioeconomic benefits and costs). Monitoring, evaluating, reporting, verifying, and certifying (MERVC) guidelines are needed for these projects in order to accurately determine their impact on GHG and other attributes. Implementation of standardized guidelines is also intended to: (1) increase the reliability of data for estimating GHG benefits; (2) provide real-time data so that programs and plans can be revised mid-course; (3) introduce consistency and transparency across project types and reporters; (4) enhance the credibility of the projects with stakeholders; (5) reduce costs by providing an international, industry consensus approach and methodologies; and (6) reduce financing costs, allowing project bundling and pooled project financing. |