Digital Monitoring, Reporting, and Verification Systems and Their Application in Future Carbon Markets

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...

Full description

Bibliographic Details
Main Author: World Bank
Format: Report
Language:English
Published: Washington, DC: World Bank 2022
Subjects:
PARIS AGREEMENT
KYOTO PROTOCOL
CARBON EMISSION REDUCTION
MRV
D-MRV
CDM
NDCs
GHG EMISSIONS
Online Access:http://documents.worldbank.org/curated/en/099605006272210909/IDU0ca02ce8009a2404bb70bb6d0233b54ffad5e
http://hdl.handle.net/10986/37622
id okr-10986-37622
recordtype oai_dc
spelling okr-10986-376222022-07-06T05:10:44Z Digital Monitoring, Reporting, and Verification Systems and Their Application in Future Carbon Markets World Bank PARIS AGREEMENT KYOTO PROTOCOL CARBON EMISSION REDUCTION MRV D-MRV CDM NDCs GHG EMISSIONS 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. 2022-07-05T19:19:01Z 2022-07-05T19:19:01Z 2022-05-31 Report http://documents.worldbank.org/curated/en/099605006272210909/IDU0ca02ce8009a2404bb70bb6d0233b54ffad5e http://hdl.handle.net/10986/37622 English CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank Washington, DC: World Bank Report Publications & Research
repository_type Digital Repository
institution_category Foreign Institution
institution Digital Repositories
building World Bank Open Knowledge Repository
collection World Bank
language English
topic PARIS AGREEMENT
KYOTO PROTOCOL
CARBON EMISSION REDUCTION
MRV
D-MRV
CDM
NDCs
GHG EMISSIONS
spellingShingle PARIS AGREEMENT
KYOTO PROTOCOL
CARBON EMISSION REDUCTION
MRV
D-MRV
CDM
NDCs
GHG EMISSIONS
World Bank
Digital Monitoring, Reporting, and Verification Systems and Their Application in Future Carbon Markets
description 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.
format Report
author World Bank
author_facet World Bank
author_sort World Bank
title Digital Monitoring, Reporting, and Verification Systems and Their Application in Future Carbon Markets
title_short Digital Monitoring, Reporting, and Verification Systems and Their Application in Future Carbon Markets
title_full Digital Monitoring, Reporting, and Verification Systems and Their Application in Future Carbon Markets
title_fullStr Digital Monitoring, Reporting, and Verification Systems and Their Application in Future Carbon Markets
title_full_unstemmed Digital Monitoring, Reporting, and Verification Systems and Their Application in Future Carbon Markets
title_sort digital monitoring, reporting, and verification systems and their application in future carbon markets
publisher Washington, DC: World Bank
publishDate 2022
url http://documents.worldbank.org/curated/en/099605006272210909/IDU0ca02ce8009a2404bb70bb6d0233b54ffad5e
http://hdl.handle.net/10986/37622
_version_ 1764487547986116608

Similar Items