AgCert methodology approved by United Nations Framework Convention on Climate Change (UNFCCC)
AgCert progresses in creation and trade of emission credits
25 October 2004
October 25, 2004 – XL TechGroup, which specialises in developing technology companies and bringing new technologies to market, today announces that its leading business AgCert International LLC (AgCert), a company with a unique process for creating agriculturally sourced greenhouse gas (GHG) emission reductions, has received notification that its methodology was approved by the UNFCCC Executive Board. This approval enables a global acceleration in production and scaling of Certified Emission Reductions (CERs).
The UNFCCC established the Clean Development Mechanism (CDM) Executive Board (E.B) to oversee the management of the CDM process, including implementation of GHG reduction projects in developing countries. The E.B. facilitates the establishment of sustainable projects that reduce the emissions of harmful greenhouse gases, considered by many to be the primary cause of climate change, while promoting sustainable development in these countries. These emission reductions are called certified emission reductions, or CERs, representing one metric tonne of (reduced emissions of) carbon dioxide equivalent. CERs are one of the most cost-effective means for industrial emitters to satisfy their GHG compliance requirements.
The CDM Framework provides for regular meetings of the E.B.'s Methodology Panel in order to evaluate GHG baseline/monitoring methodologies. During its September meeting the Methodology Panel recommended to the E.B. that it approve AgCert's methodology, which avoids both methane and nitrous oxide emissions, for use in agricultural applications worldwide. Of fourteen methodologies assessed by the Methodology Panel last month only AgCert's methodology was recommended for “approval” (with an ‘A' grade), indicating their recognition of the environmental and economic sustainability of AgCert's methodology. The E.B. accepted the Methodology Panel's recommendation.
Dr John Scott, CEO of XL TechGroup, said: “We are delighted the E.B. approved AgCert's methodology. It will enable AgCert to produce tens of millions of CERs on an annual basis. Today AgCert is creating CERs from farm systems in Brazil and Mexico and AgCert's near-term objective is to use this methodology to produce CERs from other sources across the globe.”
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