Pioneering Transparency and Integrity in the Voluntary Carbon Market: Renoster Joins the Climate Collective
We are excited to welcome Renoster into the Climate Collective.
Putting a price on carbon is an effective way to make the polluter pay for the damage it’s causing. Two common types of such policy instruments are ‘carbon tax’ and ‘Emissions Trading Systems’. Where such systems don’t exist, the Voluntary Carbon Market (VCM) fills an important role.
Following the Greenhouse Gas Protocol guidance, companies should first reduce internal emissions and then consider offsetting the rest. Historically, the VCM has played an important role in accelerating climate action, protecting nature, and financing the energy transition . By enabling carbon credit exchanges between polluters and projects that generate reductions or removals, it channels private capital toward climate impact, societal benefits, and global climate goals. However, in recent years, the VCM has faced concerns about project quality, integrity, and cost-efficient infrastructure.
Founded in 2019 by Saif Bhatti (CEO) and Elias Ayrey (CSO), Renoster applies cutting-edge open-science methodologies and remote sensing technology to assess carbon projects’ climate impact. Renoster addresses pressing flaws in carbon market quality and integrity by conducting rigorous, science-based reviews of forest carbon projects and transparently sharing their findings. This radical transparency has not only attracted quality-focused customers but also sparked industry reform and shaped anti-greenwashing regulations, including key revisions within Verra, the world’s largest carbon registry.
What makes Renoster stand out:
🔎Transparency first: Renoster is leading the way in promoting transparency in nature-based carbon projects, shedding light on inaccuracies in carbon project ratings. Their reviews, covered by global media, have catalyzed critical discussions on the integrity of carbon markets.
🛡️Commitment to integrity: Renoster’s approach encourages stronger market standards, reducing the chances of future projects taking shortcuts. By maintaining independence from project developers during the rating process, Renoster avoids conflicts of interest, ensuring objective and reliable ratings based on data from a wide range of sources. Their method combines remote sensing with academic research, industry reports, and field studies, providing a comprehensive evaluation of each project’s impact.
📚 Public accessibility & education: Renoster ensures its findings are open to the public, with 25 projects available on their Mercury Rubric page. Walkthrough videos break down key factors like additionality, baseline, leakage, and co-benefits, fostering trust in their ratings. They’ve also launched a carbon quality course to equip anyone with the skills needed for a more transparent and effective carbon market.
Welcome, Renoster! We’re excited to see you lead the way in building buyer confidence and identifying opportunities for improvement and greater impact in the VCM.
