Calyx Global Newsletter: April 2024 Edition
This April at Calyx Global we look forward to new beginnings and look back on the significant progress we have made so far. This month we are excited to share with you our recent publications and insights, as well as a new project type we will now be rating. Read on below, and feel free to subscribe to the email version of this newsletter from our website.
What does it mean to be driven by impact??
We were selected for the Impact 100 Award: America’s Most Impactful Company to Work For! At Calyx Global, we strive to produce a better world for people and the planet. This mission is at the core of our work and culture. The Impact 100 Awards recognizes and celebrates the most impactful companies to work for across the world. Read our blog that shares perspectives from within Calyx Global, on what it means to be a part of our team.
Wasted Potential?
In November 2022, we published our first research piece on landfill gas (LFG) projects highlighting their potential to generate better ratings, but noting were largely under appreciated. Since then, brokers and carbon traders have noticed a surge of interest in LFG. At this time last year, we had rated 65 LFG projects. Since then, we have almost doubled this number. Read our latest LFG post to discover the insights we have gained regarding the risk profile of LFG projects.
Landfill Gas Rating Framework
Earlier this month, we published “The Calyx Global Landfill Gas Ratings Framework,” providing insight into how we evaluate the carbon integrity risks associated with LFG projects. The paper outlines our risk rating process and offers guidance to project developers seeking to achieve a higher rating within our system. Our primary consideration for this project type revolves around determining if the project is additional, with a secondary focus on the risk of over-crediting.
What is N2O abatement in nitric acid production?
Last week Calyx Global expanded its offering to include ratings of N2O abatement in nitric acid and caprolactam facilities. The largest source of N2O emissions in the chemical process industries is the production of nitric acid, accounting for approximately 50% of the total greenhouse gas emissions from this sector. These projects hold the potential for substantial GHG mitigation impact. Read the first post in our series on this project type.?
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Understanding PoAs and VPAs
Programme of Activities (PoAs) and Voluntary Project Activities (VPAs) help support smaller-scale activities to access carbon finance by reducing the burden for each small-scale activity. This is done by allowing multiple small VPAs to hitch their wagons to an umbrella PoA. This forms a type of parent / child relationship and can be found across numerous project types, particularly within the “household & community” category. Read our post to learn more about PoAs and VPAs.
NACW Reflections
The Calyx Global team joined fellow climate leaders at North American Carbon World (NACW), hosted by Climate Action Reserve (CAR) in San Francisco, to exchange insights on the direction of the carbon markets. Whether on a stage, at a booth, or in a meeting, the search for high-quality volume (in both supply and demand) in the carbon markets was the recurring theme. Read our blog to learn more about our reflections from NACW.?
Upcoming Events
GenZero Climate Summit | April 16th Duncan van Bergen will be on a closing panel alongside Salesforce, Gold Standard and Verra discussing ‘Carbon Markets 2.0: What Could 3.0 Look Like?’. If you’ll be at the Singapore event, let us know.
IETA European Climate Summit | April 16-18th Will you be at the IETA Summit in Florence, Italy? We will, and we want to meet with you. Reach out to schedule a meeting.?
SF Climate Week | April 21-27th Calyx Global will be on the ground at SF Climate Week. If you’ll be in town, let’s meet. Reach out to book some time.
Closing thoughts?
It was great to meet with so many new and existing customers in London at the end of March, together with Calyx Global’s EMEA Sales Director, Seth Nichols. Three observations were common to the multitude of meetings: (1) almost everyone we met with spoke of solid core demand for carbon credits by European corporates. This is not the same as “exuberant growth,” but sounds different from the 2023 doldrums. (2) Many of our interlocutors mentioned more selective demand, including for credits more closely aligned with the industries of the buyer. Think soil, forest and grasslands for food and ag companies, industrial gases / N2O abatement for heavy industry, … The other parameter of selectivity is integrity - clearly, the confidence crisis of the past years has attuned buyers to quality as never before. (3) Close interest in developments that connect the VCM and regulatory/compliance markets: Art. 6.2 trades, carbon credits in domestic carbon systems (e.g. Singapore), CORSIA, and the mid-term impact of CBAM on global carbon pricing and the role of carbon credits in that. There’s never a dull moment in carbon markets. Our job at Calyx Global is to help our customers navigate the evolving landscape and provide ratings and insights to help achieve real impact and avoid risk. ?
- Duncan van Bergen , Co-Founder
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