Daphne Technology, a pioneer in climate deep tech, announces the approval of its pioneering carbon credit methodology by Gold Standard.
This milestone directly targets reducing methane emissions from internal combustion engines using any methane-rich fuel.
Methane
Methane is a powerful greenhouse gas (GHG) with a global warming potential (GWP) 28 times that of carbon dioxide (CO2) over 100 years. It is responsible for at least a quarter of the current global warming.
Unlike CO2, fossil-origin methane has a much shorter atmospheric lifetime, with a GWP of 82.5 over 20 years, so reducing methane emissions can result in quicker climate benefits. Therefore, reducing methane emissions has gained increasing attention in recent years.
Reducing methane emissions
Daphne Technology's methodology targets this critical area, focusing on reducing methane emissions to help achieve climate goals and limit the rise in global temperatures.
Key Features of the “Methodology for Reducing Methane Emissions from Combustion Engine Exhaust” Carbon Credit Methodology:
- Advanced Methane After-treatment: Methane emissions from combustion emissions are abated using an advanced after-treatment such as Daphne’s SlipPure™ technology. Incentivising quick deployment of methane reduction technologies in existing assets and faster methane emission reductions and impact on the planet.
- Real-Time Measurement: The methodology requires high-accuracy, real-time measurement before and after the abatement system ensuring a robust monitoring of the greenhouse gas emission and its reduction. Daphne’s PureMetrics™ is one such measurement system ensuring a robust verification of the GHG emission and its reduction.
- United Nations Framework Convention on Climate Change (UNFCCC) Approved Methodological tools: The Clean Development Mechanism (CDM) of the UNFCCC developed many carbon credit methodologies. In the process, they also developed several “Methodological Tools” that can be used as building blocks to simplify other methodologies. Several CDM methodological tools are used in this methodology. For example, Tool 8 is used to calculate the exact dry tonnes of CO2e emitted and abated. The use of a CDM Tool ensures that the calculation of GHG emissions abated is based on a widely recognised model that is well accepted by the international community and well understood by the scientific community.
- Quantification and Verification: Provides a robust framework for quantifying, monitoring, and verifying methane emission reductions, adhering to principles of transparency and integrity.
- Economic Incentives: Enables companies to generate carbon credits, which can be traded in global markets, providing financial incentives for adopting greener practices. Incentivising reductions of GHG emissions today.
- Broad Applicability: Designed for use in maritime and land-based applications involving internal combustion engines, ensuring wide-scale impact on methane emission reductions. Maximising the resulting GHG reduction and, ultimately, the impact.
Climate and sustainable development impacts
GS4GG is synonymous with the highest levels of environmental integrity and sustainable development
The Gold Standard, renowned for its rigorous certification process, ensures that carbon credit projects deliver genuine and measurable climate and sustainable development impacts. Established in 2003 by WWF and a group of international NGOs aims to ensure every dollar of climate and development funding goes as far as possible.
Their standard, Gold Standard for the Global Goals (GS4GG) is synonymous with the highest levels of environmental integrity and contribution to sustainable development.
Sustainable practices
"We are thrilled to lead the way in methane emission reduction with this innovative methodology," said Dr. Mario Michan, CEO and Founder of Daphne Technology.
"Methane is a major contributor to global warming, and our approach not only curbs these emissions but also supports industries in their transition to more sustainable practices. As a climate deep-tech pioneer, it's natural for us to take a lead in this direction, securing strategies for a better future."
Emissions credit trading
FReMCo’s expertise has helped to ensure that the methodology is robust and effective across various applications
The FReMCo Group, a global consulting group and a partner in this development has extensive experience in methodology and project development and emissions credit trading and continues to work in carbon markets, climate change mitigation, and climate finance.
FReMCo’s expertise has helped to ensure that the methodology is robust and effective across various applications.
Carbon credits
Alison Morris, VP at FReMCo added, “We are very happy to see this pioneering-edge methodology approved by Gold Standard, which tackles the timely and important issue of methane emissions."
"Working with Daphne was an excellent experience, and their passion and knowledge in this area is untouched. We anticipate that the projects and carbon credits that follow this approval will be unique and valuable in the voluntary carbon market.”
Green technologies and operations
Margaret Kim, CEO of Gold Standard, said, “This new methodology provides a tangible incentive for investment in green technologies and operations."
"I congratulate Daphne Technology and FReMCo on the milestone and look forward to seeing the methodology being adopted and helping to reduce emissions in both maritime and land-based engines.”
Global carbon pricing market
The global carbon pricing market reached nearly $100 billion in revenue in 2023, highlighting the growing importance and potential of carbon credits in driving climate action.
With this new methodology, project developers are positioned to make a substantial impact on global methane emissions, supporting international efforts to mitigate climate change and promoting sustainable industrial practices.
