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Protocols, Tools and Templates
Protocols
The standard credit issuance process, rules, and guidelines for generating credits and debits are described in protocol documents.
Confidential Business Information Guidelines
Through the Counting on the Environment stakeholder process, the Willamette Partnership is continuing to develop protocols for more holistic ecosystem accounting. Currently, protocols are under development for additional ecosystem currencies, voluntary tracking and accounting, and batch verification for small projects.
Tools and Templates
Policy frameworks, permits, contracts, and forms used for creating, buying and selling conservation outcomes as offset credits in the Willamette can be used as templates for others designing ecosystem markets. Any pieces not found here are available upon request.
A lot of new information was developed during the course of developing an ecosystem credit accounting system. To make participation in markets a little easier, standard templates for various contractual agreements, certificates, protocols, and standards were developed. These standard templates are available below.
The Ecosystem Credit Accounting System paper trail can be divided into four steps: (1) assessing eligibility to trade, (2) calculating credits, (3) monitoring/verifying that credit generating projects are functioning, and (4) registering credits on a central registry where they can be traded and tracked.
Eligibility
A Project Developer fills out a Validation Checklist to assess eligibility on his/her site to participate in the Ecosystem Credit Accounting system and submits it to the market administrator who signs a Validation Notice signifying that if the Validation Checklist and attached documents are accurate, the project developer is likely eligible to create credits or buy credits.
Credit Calculation
For sites generating credit, A Project Developer then submits a Credit Estimate attesting to the quantity and type of credits and and that he or she has received a Validation Notice. Credit estimation and subsequent monitoring use the following approved calculation methods:
Approved calculators:
Water temperature benefits from riparian restoration
The Ecosystem Credit Accounting System currently supports four credit calculators for four different kinds of credits. These calculators are standardized spreadsheet tools (using Microsoft Excel software) developed to help market participants calculate credits from different types of restoration activities.
Each of these credit calculation methodologies require data collected in the field. The Datasheets and Field Guide can be accessed here: Field Tools
Verification
After training authorized by the market administrator, a verifier receives a Verifier Accreditation Certificate authorizing them to verify the quantity and quality of credits from projects for the currencies on which they have been trained.
A Project Developer and Verifier enter into a Verification Service Agreement. This agreement requires that the Verifier submit a Verification Notice and Conflict of Interest Form along with the Verifier’s Accreditation Certificate to the Market Administrator.
The Verifier and Project Developer then submit a Verification/Monitoring Report attesting to the verifier’s opinion of the Project Developer’s Credit Estimate Report. This Verification Report authorizes the verifier to submit the Report to the Market Administrator and Markit Environmental Registry.
Registration
An Agency Certification Form from the Market Administrator records necessary agency approvals and releases the Project Developer’s credits for registration and sale on the online Registry. The Approval of Sale from the Market Administrator directs the Registry to finalize a sale. If the Verification Report is not within 15% of the Credit Estimate, the Market Administrator will issue a Credit Suspension Notice or Credit Cancellation Notice to the project developer or registry; notifying them that certain credits are suspended or canceled and not available for sale.
Markit Environmental Registry
The Willamette Partnership, acting as Market Administrator for the Ecosystem Credit Accounting System in the Willamette Basin, has partnered with the Markit Environmental Registry to register all credits generated under the system. According to the Registry's website, "The Markit Environmental Registry service provides critical market capability including issuance, holdings, transfers, retirement services, and financial market requirements such as delivery versus payment. Designed specifically for environmental markets and financial market activity, the Markit Environmental Registry supports transacting in high quality voluntary carbon credits and environmental certificates and credits through a credible, externally audited retirement facility."