TerGo International Forestry Carbon Standard: Difference between revisions
(Created page with "An international standard for verifying the creation of carbon offsets through sequestration projects based on agroforestry activities. The standard was created by experts from the TerGo Foundation (Asst. Prof. Khaled Madkour, Ain Shams University, Egypt) and audited by independent scholars (Prof. Walter Leal, University of Hamburg). The IFCC standard was created to enable sequestration projects to be conducted by the broadest possible group of individuals and entities...") |
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An international standard for verifying the creation of carbon offsets through sequestration projects based on agroforestry activities. | An international standard for verifying the creation of [[Carbon offset|carbon offsets]] through sequestration projects based on agroforestry activities. | ||
The standard was created by experts from the TerGo Foundation (Asst. Prof. Khaled Madkour, Ain Shams University, Egypt) and audited by independent scholars (Prof. Walter Leal, University of Hamburg). | The standard was created by experts from the TerGo Foundation (Asst. Prof. Khaled Madkour, Ain Shams University, Egypt) and audited by independent scholars (Prof. Walter Leal, University of Hamburg). | ||
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The standard follows the CDM requirements, ISO 14064-2 and ISO 14064-3 standards. To qualify for the IFCC standard, applicants must schedule a project for a minimum of 25-30 years. | The standard follows the CDM requirements, ISO 14064-2 and ISO 14064-3 standards. To qualify for the IFCC standard, applicants must schedule a project for a minimum of 25-30 years. | ||
Unlike many other standards, IFCC requires storing the created offsets in an NFT form on the TerGo Market: a non-editable database built using blockchain technology. Such a way of tracking ensures that every VER created in an IFCC-certified project is securely stored in an immutable form. Thereby the possibility of double counting or double selling is minimized to zero. | Unlike many other standards, IFCC requires storing the created offsets in an NFT form on the TerGo Market: a non-editable database built using [[blockchain]] technology. Such a way of tracking ensures that every [[VER]] created in an IFCC-certified project is securely stored in an immutable form. Thereby the possibility of double counting or double selling is minimized to zero. | ||
Latest revision as of 09:08, 6 September 2022
An international standard for verifying the creation of carbon offsets through sequestration projects based on agroforestry activities.
The standard was created by experts from the TerGo Foundation (Asst. Prof. Khaled Madkour, Ain Shams University, Egypt) and audited by independent scholars (Prof. Walter Leal, University of Hamburg).
The IFCC standard was created to enable sequestration projects to be conducted by the broadest possible group of individuals and entities. The standard is accessible to a larger audience thanks to a removed entry fee. The lack of the initial financial barrier encourages the creation of sequestration projects by individuals and entities that previously could not afford to run an agroforestry project due to limited financial resources. The TerGo Foundation overtakes the cost of due diligence for all the applicants. The Foundation thus realizes one of its statutory missions: to mitigate climate change by supporting the creation of the highest quality sequestration projects.
The standard follows the CDM requirements, ISO 14064-2 and ISO 14064-3 standards. To qualify for the IFCC standard, applicants must schedule a project for a minimum of 25-30 years.
Unlike many other standards, IFCC requires storing the created offsets in an NFT form on the TerGo Market: a non-editable database built using blockchain technology. Such a way of tracking ensures that every VER created in an IFCC-certified project is securely stored in an immutable form. Thereby the possibility of double counting or double selling is minimized to zero.
