Digital Monitoring, Reporting, and Verification Systems and Their Application in Future Carbon Markets
International carbon markets under the Paris Agreement are significantly different from those under the Kyoto Protocol. Under the Kyoto Protocol, only developed countries had greenhouse gas (GHG) emission reduction targets, and the protocol defined...
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| Format: | Report |
| Language: | English |
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Washington, DC: World Bank
2022
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| Online Access: | http://documents.worldbank.org/curated/en/099605006272210909/IDU0ca02ce8009a2404bb70bb6d0233b54ffad5e http://hdl.handle.net/10986/37622 |
| Summary: | International carbon markets under
the Paris Agreement are significantly different from those
under the Kyoto Protocol. Under the Kyoto Protocol, only
developed countries had greenhouse gas (GHG) emission
reduction targets, and the protocol defined how carbon units
could be traded across countries under international market
mechanisms, such as the Clean Development Mechanism (CDM).
By contrast, under the Paris Agreement both developed and
developing countries are required to submit GHG mitigation
goals as part of their nationally determined contributions
(NDCs). The purpose of this technical report is to
illustrate the need for digital monitoring, reporting, and
verification (D-MRV) systems to underpin future carbon
markets under the goals of the Paris Agreement by discussing
the available technologies and barriers to their adoption.
It includes guidelines, tools, and lessons learned to
promote the use of these systems and emerging technologies.
Section 1 of the report makes the case for transitioning
from a conventional monitoring, reporting, and verification
(MRV) system to a D-MRV system. It also examines the
resources needed to develop and implement a D-MRV system,
and what an enabling policy and regulatory environment for
D-MRV systems might look like. Finally, it suggests a tool
for assessing whether a parameter can beneficially be
monitored and reported under a D-MRV system.Section 2 offers
case studies from across the world demonstrating how D-MRV
systems can be used to monitor, report, and verify
mitigation actions and greenhouse gas inventories linked to
forestry and land-use projects, household and rural
renewable energy projects, and even waste-to-energy
projects. The case studies include lessons learned and best
practices for developing, implementing, and managing a D-MRV system. |
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