Will It Count? (Not if you haven ’t counted) 
Documenting Adequately to Allow Crediting Under Future Rules 

While debate rages domestically and globally over what type of greenhouse gas reductions (or enhancements to carbon stores) should "count," scores of projects are moving forward that have the effect of reducing greenhouse gas emissions from what might have occurred under a business as usual scenario. Some project developers are targeting greenhouse gas emission reductions as a primary goal. Others are pursuing other end goals (such as odor control or energy savings), and enhance greenhouse gas emissions reductions as a collateral benefit. In either case the quantification, documentation and reporting of emission reductions can provide flexibility to meet future obligations and opportunities. The measurement and reporting step is not the point at which to dictate what "counts". Measurement and reporting in today’s pre-policy context is critical to provide market credibility, and to establish a record from which to make claims once policy is established. This article describes the many parameters that contribute to future value for emissions reductions, and examines some of the variables that contribute to the speculative nature of an emissions reduction "credit".

Projecting what "counts" depends significantly on identification of under-lying objectives for offsets. Some project developers are endeavoring to create emissions reductions that are likely to meet future U.S. or other domestic greenhouse gas management regulations. Others are focusing on meeting emission offset project parameters under the Kyoto Protocol. Still others are targeting near term revenues from contract or option sales with speculative pricing incorporated. Marketing climate neutral products is still another underlying objective. Of course efforts to reduce our national emissions inventory, and slow the threat of climate change resonate as worthy end goals as well.