There is a huge sector to be served related to the GHG reduction goals in Canada. Collaboration between Polar Design Studio and your business venture will be highly beneficial in realizing the full financial potential of this emerging market. You will provide preliminary screening information to identify potential project at your end and provide project details to Polar Design Studio.
Polar Design Studio will evaluate the project for GHG reduction potential and may request more details to determine project additionality and to compile a baseline emission and projected reduction in the next 10 years.
With your collaboration, Polar Design Studio will develop a preliminary economic analysis providing project development, validation and verification cost and potential earning from carbon offset credits to make the project economically viable.
You will share the preliminary project cost-benefit analysis of the project with other project owners if applicable and agree to proceed with the project for registration. We will obtain a project approval from the carbon offset registry and a letter of no objection from the Ministry of Environment (MOEE).
In consultation with you and other project owners, Polar Design Studio will develop ‘Project document for registration with carbon offset registry. Polar Design Studio will facilitate project proposal review and upstream due diligence by registry Board.
If the project document is acceptable to Carbon registry, Polar Design Studio will solicit an Ontario entity as project sponsor to support the project development. An agreement will be developed with the sponsor for investing in the project development and owning the carbon reduction credits for a specified period.
The following steps will be completed for project initiation and commissioning and ongoing monitoring, approval and transfer of Carbon credits:
- Project identification
- Project preliminary evaluation of carbon offset potential
- Project Document
- Project Validation and Registration
- Project development and commissioning
- Monitoring, Verification and Certification
- Transfer of emission reduction (CO2 credits)