¿Qué papel desempeñan las agencias de créditos de carbono en los mercados de carbono?

The Paris Agreement aims to limit the increase in the global average temperature to well below 2°C above pre-industrial levels and pursue efforts “to limit the temperature increase to 1.5°C above pre-industrial levels.” It will take ambitious collective action to achieve these goals.

Progress in this area requires government intervention, but the private sector plays a crucial role too. As it is not yet technologically or economically feasible to avoid 100% of emissions globally, carbon credits are an essential solution to meet net zero targets. 

Carbon offsetting, however, is largely scrutinized—and rightly so. It is difficult to find credits that actually minimize greenhouse gas emissions and deliver real climate impact. To address this challenge and offer greater transparency to credit quality and risk, carbon credit agencies have emerged. 

Based on independent and objective analysis, a carbon credit rating agency issues ratings - often in the form of letter grades - to assess the likelihood that a carbon project delivers real climate impact. Like debt ratings, carbon credit ratings help buyers understand the risk associated with a specific credit. For example, a low carbon credit rating would indicate the project is high risk (i.e. likely not meeting the carbon removal or avoidance goals it claimed it would).

The need for carbon markets to prioritize emission reductions  

A growing number of companies have stepped up to the challenge by setting and investing in net zero targets to decarbonize company operations and value chains. Today, organizations covering more than 90% of global GDP have made net zero commitments—a strong start to a low carbon economy. 

Sin embargo, la mayoría de esos objetivos netos cero son para 2030 y 2050. Muy pocas empresas han fijado objetivos provisionales para facilitar la acción climática inmediata, y aún menos han definido las consecuencias de lo que ocurre cuando no se alcanzan los objetivos.

It is imperative companies mobilize direct decarbonization of Scope 1, 2, and 3 emissions at rates in line with 1.5°C pathways, but it is not yet possible to avoid 100% of GHG emissions globally. Technology to decarbonize with speed and scale is not readily available, particularly in sectors like aviation, construction, mining, and agriculture. 

Aunque la exposición al riesgo climático no se distribuye uniformemente entre las industrias, la urgencia se aplica a todas. Los créditos de carbono de alta calidad pueden y deben utilizarse para cubrir las emisiones residuales y compensar las emisiones anuales a corto plazo. 

En Sylvera creemos firmemente en la necesidad de utilizar todos los medios a nuestro alcance para frenar y evitar los peores efectos del cambio climático. SBTi también apoya y fomenta el uso de créditos de carbono de alta calidad, tanto de emisiones evitadas como de absorciones. 

En un mundo que se enfrenta a los efectos catastróficos del calentamiento global, debemos avanzar hacia un paradigma de "sí y" o "ambos y". En otras palabras, necesitamos aprovechar todas las soluciones disponibles hoy. La inversión en créditos de carbono es un complemento esencial de las ambiciosas reducciones de emisiones y de las trayectorias netas cero. 

Just as one diligently makes deposits into their retirement account to take advantage of compounding interest, so too must we invest in deep decarbonization and emissions compensation today. The path to 1.5°C becomes a lot steeper and much more expensive if we drag our feet. 

To help eliminate friction in the decarbonization journey, carbon credit rating agencies enable buyers to better navigate and invest in carbon markets.  

How credit agencies help companies reduce carbon footprints

Agencies, like S&P or Moody's, emerged to create a global language and understanding of credit ratings that unlocked value in the debt markets. 

Basándose en análisis independientes y objetivos, estas agencias de calificación crediticia emiten calificaciones para evaluar la probabilidad de que un emisor de deuda pueda cumplir sus obligaciones. Estas calificaciones proporcionan a los inversores los datos necesarios para gestionar el riesgo y la rentabilidad.

La ausencia de un lenguaje compartido y de una comprensión unificada de la calidad de los créditos de carbono ha creado un espacio para la ambigüedad que, en última instancia, ha inhibido el crecimiento y la integridad de los mercados de carbono. Las calificaciones de los créditos de carbono pueden ser un faro dentro de la opacidad de los mercados de carbono, aportando transparencia y análisis en los que los compradores puedan confiar. 

Carbon credit ratings agencies like Sylvera, BeZero, Calyx and Renoster have emerged to help bring clarity and confidence to carbon credits. Today, each agency has a different approach to evaluating the quality and risk of carbon projects, and there is no universally agreed upon definition of “high-quality credit.” Work must be done to calibrate scales and educate buyers about different assessment approaches.

La transparencia y los datos que demuestren la relación entre precio y calidad ayudarán a que el mercado crezca, se estabilice y aporte capital a proyectos que reduzcan real y efectivamente las emisiones o eliminen carbono. Por lo tanto, los datos de calificación de los créditos de carbono son necesarios para que los inversores garanticen la legitimidad de sus inversiones, gestionen los riesgos y cumplan sus obligaciones fiduciarias.

Para saber más sobre las complejidades de los MVC y la mejor manera de sortearlos, descargue nuestra guía para partes interesadas en la sostenibilidad.

La diferencia Sylvera 

Del mismo modo que los mercados financieros se beneficiaron y se hicieron más fiables y transparentes para los compradores con la aparición de las agencias de calificación a principios del siglo XX, los mercados de carbono necesitan datos sólidos, independientes y actualizados que aporten claridad sobre el diseño de los proyectos y su rendimiento continuo para generar confianza y ampliar su escala. 

Sylvera's carbon credit Ratings give nuanced insight into the quality and risks of individual carbon projects. This is what makes our ratings the most accurate and reliable.

Marcos propios específicos para cada tipo de proyecto y revisados por expertos

Our innovative approach works from the bottom up. First, we build rigorous frameworks and production systems to accurately test project design, carbon accounting, and climate impact claims. This means for each project category (i.e. REDD+, ARR, RES, IFM, Biochar, etc), we develop and apply different frameworks, as it is the only way to accurately assess quality across fundamentally different activities. 

Simply put, if you evaluate an improved forest management project (IFM) projects and a biochar project with a generic framework, the results will be inaccurate. 

Unlike other credit ratings agencies, Sylvera's frameworks are peer-reviewed by a committee of experts and carbon market stakeholders—including project developers & registries—to ensure scientific consensus, and ensure our ratings reflect the parameters for a market-defined high-quality credit. In the spirit of transparency, we publish our frameworks, so buyers understand exactly what we test and how we do it.‍

Puntuación de la contabilidad del carbono, adicionalidad, permanencia y beneficios colaterales

Sylvera Ratings are derived from the holistic analysis of a project's carbon accounting, additionality, and permanence. Each project we rate receives a discrete letter rating (AAA-D) and an in-depth report. 

For co-benefits, we produce a separate score based on our examination of the project activities' impact on local biodiversity and communities. Corporate buyers are increasingly interested in understanding the co-benefits of carbon projects. A crucial dimension of carbon credits, strong co-benefits can often have a strong impact on price.‍

Profundidad y precisión incomparables

Sylvera is the only carbon credit rating agency that has invested millions of dollars and thousands of hours conducting field research; synthesizing optical, radar, and LiDAR data to validate emissions reductions claims; and building and calibrating machine learning models to reconstruct individual carbon, strength of baseline, and financial additionality models to validate emissions reductions or removals claims and to evaluate project economics. 

‍Independent data validation

Our expert analysts leverage independently verified data and advanced machine learning (ML) technology to test the accuracy of credit issuances and claims. Comparing independent data specific to each project against the data reported in the project's documentation is the cornerstone of high-quality due diligence. For example, we use market-leading geospatial ML models when rating nature-based solutions to assess additionality and permanence, and ensure pinpoint accuracy.

‍The world's largest dataset of carbon stored in trees 

Sylvera is LiDAR scanning forests to build the world's largest dataset of carbon stored in trees and above-ground biomass. By collecting vast quantities of this data around the world in different biomes, it Sylvera can estimate both biomass and carbon stocks for forests at an unprecedented accuracy using satellite data. Access to this data makes tackling climate change much easier.

‍Building legitimacy in the carbon markets‍

Sylvera colabora con varias iniciativas, como el Consejo de Integridad para el Mercado Voluntario del Carbono (IC-VCM), que se centran en crear integridad y claridad en los mercados del carbono. El IC-VCM se basa en un principio sencillo: construye integridad y la escala te seguirá.

Sylvera participa en iniciativas tanto del lado de la oferta como de la demanda:

• On the supply-side to ensure that investments in carbon credits are channeled to effective climate solutions
• On the demand-side to give buyers and the wider public confidence in the integrity of the market

Sylvera also supports supply-side integrity as a member of Verra's digital MRV working group. The multi-stakeholder advisory committee identifies opportunities for the application of digital technologies within carbon project standards and methodologies to increase accuracy and efficiency, as well as the impact of projects. 

Sylvera Ratings are a complementary solution to integrity-building initiatives. We will continue to engage with market initiatives to ensure carbon markets have the biggest and most positive impact on the climate, nature, and local communities. 

Companies engaging with carbon markets can often find themselves in the crosshairs of greenwashing claims from the press and other stakeholders. Sylvera's in-depth carbon Ratings give buyers access to reliable and accurate information. That way, companies understand risks to their portfolio before a project is called out for not meeting its climate obligations.

Moreover, our comprehensive Ratings enable companies to easily invest in and build a high-quality carbon credits portfolio, which means confidently delivering on climate action commitments while managing reputational risks.

Want to learn more about Sylvera? Request a free demo to see our industry-leading solution in action.