For Project Developers

About Riverse

General Overview

What is Riverse?

Riverse is a carbon credit standard for Industrial Greentechs

We enable industrial green technologies to earn money to scale, by building a tech infrastructure facilitating environmental impact monitoring, reporting, and verification, as well as a carbon credit standard to enable the issuance of carbon credits on the Voluntary Carbon Market.

How long has it been operating for?

Riverse has been operating since 2021. Riverse has received significant investment from investors, certified more than 40 projects, and more than 150,000 credits. Riverse is one of the 12th carbon credit standard worldwide endorsed by ICROA, the main accreditor of the market.

How does Riverse differ from other players in the market?

As a leading carbon credit standard for Greentech industrial projects, Riverse has successfully certified over 40 projects across four key sectors, showcasing our deep expertise and significant impact in the market. Here's how we further set ourselves apart:

End-to-End Platform: Our MRV platform, standard and registry efficiently manage the entire carbon credit lifecycle for projects, from data collection to credit issuance, ensuring precision and compliance throughout.
Efficiency and Minimal Input: Riverse combines a quick certification process with minimal input requirements, completing certifications in just 43 days. This streamlined approach enables project developers to focus on their core activities while quickly benefiting from carbon credits.
High-Quality and Robust Certification: Our carbon credits meet the highest standards of quality and reliability. Endorsed by top-tier accreditors like ICROA and audited by renowned firms such as KPMG, our certifications ensure that credits are not only internationally compatible but also represent real, verifiable reductions in carbon emissions.
Cost Effectiveness: We offer competitive pricing (see questions below) without compromising quality, making it easier for more projects to engage in carbon credit markets and achieve their sustainability objectives effectively.

Products & Pricing

How do Riverse Products support me in the carbon crediting journey?

Riverse is an all-in-one solution:

Comparative LCA data model: to calculate your impact and prove it to your ecosystem
MRV platform: for data collection, monitoring and verification
Riverse certification standard: to ensure carbon credit compliance with international guideloines
Secured registry: for the sale and management of your carbon credits

The Registry is connected to tier-1 carbon credit sellers and marketplace allowing credit transactions, as well as the transparency and traceability of those credits.

For more detail, you can refer to the Product Page.

Can we only get the Riverse LCA and MRV?

Yes, some projects only want to access the MRV to access a custom comparative LCA data model, generate unlimited impact reports, and be able to share it to their stakeholders (investors, clients, suppliers…), without conducting the certification to issue carbon credits.

Can we only get the certification through the Riverse Standard?

No, the MRV is necessary for the initial validation, as well as the verification every year. If a project wants to issue carbon credits with Riverse, they need to input their data on the MRV platform first.

Can we only get the registry?

No, the registry is only used by projects which have been certified by Riverse.

What kind of technical support does Riverse offer to Greentechs?

Riverse supports greentechs through their MRV and carbon credits journey:

Riverse firstly performs a deep assessment of the greentechs through their project application
If eligibility is validated and we conclude commercial terms, we kick off the certification process with an onboarding kick-off call
Riverse assists greentechs during their whole certification process (data collection, DPD draft and LCA calculation, validation audit kick off and following steps)
Riverse then onboards greentechs on MRV platform and registry
Riverse connects you with the tier 1 carbon credit sellers in the market.

What is Riverse’s pricing?

Our pricing is threefold :

MRV by projet: Provision of the platform for the measurement, reporting and annual verification of each facility

Start at 7,500€ per year per site
This includes initial validation and annual verification by an independent third-party auditor accredited to ISO 14065 or 17029.

Final Validation Audit

Between 4000 and 7000€ (according to auditors) per project
One time fee to finalise the certification
Can be degressive if several similar sites / projects.

Emission price per carbon credit

3€ per avoidance credit
5€ per sequestration credit (between 5 and 10% of revenue generated)
Charged when credits are traded on the registry.

Ad hoc methodology development - To be discussed.

About the Voluntary Carbon Market (VCM)

What is the difference between the 2 main carbon markets: the EU-ETS and the VCM?

The EU-ETS (or "carbon quotas") is a mechanism established by the European Union to compel highly emissive industries to decrease their greenhouse gas emissions. It is considered effective for large industrial firms that are slow in reducing their emissions.

On the other hand, the Voluntary Carbon Market (VCM) is a mechanism that funds low-carbon projects essential in combating climate change. It receives support from companies committed to a Net Zero strategy who aim to make a significant contribution to the fight against climate change.

Despite both mechanisms sharing a similar name and being based on the value of carbon, they are essentially different and no longer associated with each other.

What are the different types of actors of the carbon credit market?

The following are the various types of carbon credit actors and their respective roles:

Project Developer: An individual or organization that undertakes the development of a low-carbon project funded through carbon credits.
Project Proponent: A carbon credit specialist who can assist project developers in selecting the best methodology and facilitating the application process.
Carbon Credit Standard: A certification agency that provides methodologies and procedures for issuing carbon credits.
Validation and Verification Bodies: Third-party auditors who operate independently and are required in the certification process.
Carbon Credit Resellers and Consultancies: Carbon credit experts who advise Net Zero companies on their carbon credit acquisitions.
Carbon Credit Rating Agency: An independent entity that provides ratings on carbon credits issued to aid Net Zero companies.
Meta-Organization: Entities that define qualitative criteria for carbon credits and Net Zero protocols.

Can I make money with carbon credits like Tesla does?

Tesla earns revenue from carbon credits through the functioning of the Californian local carbon market. Therefore, this may not be applicable to you unless your business operations are car-related and move to San Diego!

It's important to note that there are dozens of different carbon credit markets around the world, each with their own set of rules. The Voluntary Carbon Market is the only global carbon credit market.

What are the regulations of the voluntary carbon credit?

The Voluntary Carbon Market currently lacks regulation by any governmental entities. The rules are established by non-profit organizations such as the International Carbon Reduction Offset Alliance (ICROA) and the International Emission Trading Agency (IETA).

Additionally, some Net Zero protocols, such as the Science-Based Targets Initiative (SBTi) and Carbon Trust, establish their own regulations on the acceptance of carbon credits. These criteria largely align with the guidelines outlined by the ICVCM.

Finally, some countries are beginning to define laws concerning the quality and usage of carbon credits. Notably, in France, the "Code de l'Environnement" and the "Decret de loi sur la compensation carbone et les allégations de loi sur la neutralité carbone" establish certain criteria.

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What is the difference between avoidance and removal carbon credits?

An avoidance carbon credit represents one ton of CO2 not emitted due to the deployment of a project. These projects can issue avoidance carbon credits, also known as carbon offsets, to finance themselves. Here are a few examples:

A biomethanization unit produces biomethane with a very low carbon footprint and injects it into the gas network instead of fossil natural gas.
An electronic devices reconditioning center enables the introduction of devices with a very low carbon footprint into the market as a substitute for new electronic devices.
Low-carbon construction materials made of raw earth can replace cement and steel in many construction projects and prevent significant emissions.

A removal carbon credit represents one ton of CO2 removed from the atmosphere for +100 years. These projects are mostly funded by carbon removal, and their price depends heavily on permanence, which refers to the duration of carbon storage. Here are some examples:

Biobased Concrete can be a removal project, if the storage commitment period can be up to 100 years.
Storage in soil, thanks to biochar, for instance, is also growing in popularity with a medium permanence.
Geological storage with solutions like DAC is relatively new but has potential and the longest permanence.

What are the Eligibility Criteria in the Voluntary Carbon Market?

There is a consensus that the voluntary carbon market ought to adhere to the Core Carbon Principles outlined by ICROA and the ICVCM.

Other frameworks derive their qualitative guidelines from these recommendations, with some modifications depending on their specific focus.

What is the difference between insetting and offsetting?

Offsetting is related to a carbon contribution outside of a corporate’s value chain.

Insetting is related to a carbon contribution within the corporate’s value chain.

Who can issue carbon credits?

In order to issue carbon credits, the primary objective must be to provide financial support to low-carbon projects that require additional funding to expedite their deployment.This process must be project-based and adhere to the Core Carbon Principles established byICROA and the ICVCM.

To sum it up succinctly, carbon credits should only be issued for the purpose of financing low-carbon projects.

More details on Riverse application of the Core Carbon Principles can be found in Riverse Standard Rules.

The Riverse Impact Certification Platform (LCA + MRV)

the mrv

What is MRV and why is it important?

An MRV (Monitoring, Reporting, and Verification) platform is a system designed to monitor, report, and verify various activities and data, typically related to environmental and sustainability metrics. The MRV system is crucial for maintaining the integrity of the Riverse carbon credit program.

It provides a reliable basis for issuing carbon credits, ensuring that each credit represents a real, verifiable reduction or sequestration of carbon dioxide, thereby contributing to global climate change mitigation efforts.

Key Functions of the MRV Product:

Measurement: Custom comparative LCA data model per project, to help you prove your impact to your stakeholders.
Monitoring: Continuous observation and tracking of project activities to ensure they are operating as expected and adhering to the Riverse Standard. This involves gathering data on relevant environmental, social, and project-specific indicators.
Reporting: Compilation of data into standardized reports. These reports must clearly demonstrate the project’s compliance with established criteria and its impact on greenhouse gas reductions or sequestrations. Reporting is typically required on a regular schedule and after significant project milestones.
Verification: Independent assessment of reported data by a third-party auditor. This step is crucial to validate the integrity of the data reported and the effectiveness of the project in achieving its stated goals. Verification ensures transparency and trust in the carbon credits issued under the Riverse Standard.

What type of LCAs is Riverse doing?

Riverse uses comparative LCAs. Comparative Life Cycle Assessments (LCAs) compare the environmental impacts of different products, processes, or systems. They evaluate multiple options to identify the most sustainable choice. In contrast, non-comparative LCAs focus on assessing the environmental impacts of a single product, process, or system in isolation, without comparing it to alternatives.

What is the difference between an LCA and a carbon footprint?

Carbon footprint

On a single variable (carbon), dated, based on the direct and indirect impacts of an entity (person, company, town, country) and not standardized.

A company's carbon footprint encompasses direct emissions (scope 1), which are owned or controlled by the company, such as burning fossil fuels for transportation or energy, and indirect emissions (scope 2 and 3), which are consequences of the company's activities but originate from sources not owned or controlled by it. It is a snapshot at a given moment of the carbon impact of a company's activities only. It includes its own consumption of fossil energy, the consumption (or purchase) of products, materials or services, and the marketing of potentially emitting products or services.

LCA

Multi-varied (max 14 impact criteria), focuses on a function ("produce 1kg of H2") delimited on a closed system and meets the ISO14040 standard.

The LCA of a product or a process allows to evaluate the global environmental impact (water consumption, fertilizers, carbon...) throughout its life time. It can account for multiple stages depending on the system boundaries, such as Extraction, Production, Transport, Use and End of life. It allows to evaluate the co-benefits of the solutions. As it focuses on a function, it allows to compare two solutions to the same problem.

the SCIENCE behind it

How can projects trust Riverse’s scientific expertise?

At Riverse, we ensure trust in our scientific expertise through several key methods.Firstly, our team comprises experts in Life Cycle Assessments (LCAs), backed by rigorous scientific research, Riverse Technical Committee and expert consultations for each methodology. Secondly, we regularly engage in public consultations to validate and update our methodologies, ensuring transparency and reliability. Thirdly, we collaborate with Validation and Verification bodies bodies and accreditors to uphold the highest standards of verification and credibility in our processes.

What database is Riverse using ?

Riverse is using Ecoinvent 3.10. (to the current date: 07/06/2024)

The Riverse Standard and certification process

Basics

Why do I need a standard to issue carbon credits?

Carbon credit standards ensure that projects comply with the criteria of the voluntary carbon market and maintain high-quality carbon credits.

While a project can choose to issue carbon credits without adhering to a standard, it may be more challenging to commercialize these credits and secure the expected funding.

Riverse Standard certification eligibility

Which greentechs & projects does Riverse certify?

Riverse focuses on helping SMEs, mostly in Europe, currently developing an industrial decarbonisation solution. Today, we prioritise 4 different verticals :

IT reconditioning
Biobased construction materials
Biogas from anaerobic digestion
Bioenergy & Biochar

Here you can find our methodologies’ pages.

We are planning to develop more avoidance and removal methodologies in the coming months, please contact us if you’d like to discuss methodology development.

How is additionality assessed under Riverse Standard?

The Riverse Standard enables solutions that would not have occurred without revenue from carbon finance. This principle ensures that carbon financing spurs additional action to fight climate change, rather than subsidizing actions that would have happened anyway.

Riverse Carbon Credits cannot be issued for projects that would have occurred regardless of carbon finance. Several types of additionality tests are described below. To demonstrate additionality, all projects must apply

Regulatory surplus analysis: Regulatory surplus analysis: Mitigation activities must go beyond what is required by regulations to be eligible for RCCs.

Plus one of the two below

Investment analysis: Project Developers may use investment analysis to prove that revenue from carbon finance is necessary to make the project investment a financially viable and interesting option
Barrier analysis : Barriers may exist that prevent the mitigation activity from continuing or expanding. These may be financial, institutional, or technological barriers. Project Developers must demonstrate how revenue from carbon finance is necessary to allow projects to over come these barriers.

The Riverse Additionality Template enables Project Developer to demonstrate their additionality.

Our approach is based on BeZero guidelines regarding additionality, which is a leading carbon credit rating agency.

What does permanence mean for carbon credits?

Permanent carbon removals mean that carbon removal is ensured for the committed-upon duration (at least 100 years for removal RCC). This duration is the commitment period, and represents the number of years for which the Project Developer can prove that carbon will likely remain sequestered.

Carbon removals are not permanent if the carbon is re-emitted (i.e. the removal is reversed) before the commitment period ends, for example through natural disaster (fires, drought, pests) or project mismanagement.

Reversal risks are managed through:

Contribution to the provision pool: projects eligible for removal RCCs must contribute a default 3% of their verified removal RCCs to the provision pool. This covers a minimum inherent reversal risk of all removal RCCs. More details on the provision pool are available in the Riverse Procedures Manual.
Risk assessment: projects eligible for removal RCCs must evaluate the risk of reversal during the validation step using the Reversal Risk Evaluation section of Risk Assessment Templates. Details on how to fill in the template, and how to use the results, are in the Risk assessment section below.

Is there double counting if I issue carbon credits to finance my activity?

To prevent double counting, it is crucial to ensure that a project is not financed with carbon credits from two different carbon credit standards.

It's important to note that financing a project with carbon credits does not negate its low-carbon qualities. For example, a solar panel project funded by carbon credits still produces low-carbon electricity, while wood from a reforestation project funded by carbon credits remains a low-carbon material if used in construction.

Therefore, we can issue and sell carbon credits, and still claim a low-carbon product on your side.

What timeframe does Riverse consider to value the credits?

With a retroactivity period of 18 months, projects have the capability to assess and assign value to their impacts stemming from activities dating back one and a half years.

Once issued, carbon credit has no peremption date. However, some standards like SBTi would not accept carbon credit older than 5 years.

How does Riverse establish eligibility? What criteria does Riverse consider?

Our eligibility criteria include measurability, real, additionality, durability/reversal risks, no double counting, co-benefits, substitution, environmental and social do no harm, leakage, technology readiness level, targets alignment, and minimum impact. We have detailed our approach to those eligibility criteria in our Standard rules.

This document is highly inspired by the Code of Practices of ICROA, and the Core Carbon Principles from the ICVCM.

Otherwise, in France people sometimes refer to the 5 criteria set by ADEME (which overlap with the ICVCM)

Additionality
Measurability
Verification
Permanence
Unicity

Riverse Methodologies

What are the projects eligible to Riverse methodologies?

Today, we can only certify projects within those 4 key methodologies :

Biochar & Bioenergy
Biobased Construction Materials
Biogas from anaerobic digestion
Electronic Devices Reconditioning

If you believe your project falls into one of these methodologies, you can complete this quick pre-eligibility questionnaire to get our climate team’s first feedback.

However, we keep expanding to new methodologies. And to do so, we collaborate with project developers.

How can Greentechs collaborate with Riverse to develop new carbon credit methodologies?

Riverse is continuously expanding to new methodologies. To do so, it is very common that we conduct pilot projects with greentechs in these new verticals. Feel free to fill the pre-eligibility questionnaire to have a feedback and visibility from our Climate Team.

How do we define the baseline scenario?

We have detailed this in our Standard Rules. You can also refer to the methodology page of your vertical.

How do we define the functional unit ?

We have detailed this in our Standard Rules. You can also refer to the methodology page of your vertical.

The Certification process

How much time do projects need to invest?

At Riverse, we meticulously manage the entire process to safeguard projects from excessive spending. Through our streamlined approach, project developers now dedicate a few hours per week on average to the certification process, ensuring efficiency and optimal resource allocation.

What is the 3rd party audit and why is it needed?

A third-party audit is required to issue high-quality carbon credits, and it must be conducted by a third-party auditor with strong knowledge and skills in validating and verifying environmental information (such as ISO 14065 or ISO 17029). Riverse already accredited several VVBs.

This audit is necessary to ensure project quality and eligibility for carbon credit funding mechanisms. Most standards provide a list of accredited third-party auditors. You can find Riverse accredited VVBs here.

Which type of documents will I get at the end of the certification process?

At the end of the certification process three main documents are provided:

1. Detailed Project Description (DPD)

The DPD is the main document of your application, it mainly used for the audit with the Validation and Verification Body (VVB) and by carbon credit buyers to understand the project. It contains:

full comparative LCA of the project and baseline scenario,
monitoring plan with verification KIIs definition, and the justification for the 14 criteria

2. Validation report from the VVB

The VVB audits all information used in general methodological framework and the certification criteria, among others. At the end of the process it provides a validation and a verification auditing report.

3. Annual Verification Report from the VVB

Contains the description of verified carbon credits (if credits are ex-post).

4. Carbon Credit Sales Material 4-pagers and project page

To help you and our selling partners in the sales of the carbon credit.

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How frequently do I need to verify my impact?

A project should undergo regular monitoring and verification. The default period for a verification period is one year. The length of the verification period may vary but can not exceed two years of operations.

What is Riverse certification process?

The Riverse certification process involves five main steps:

Signing a service agreement electronically to confirm partnership conditions.
Collecting project information to compute a Life Cycle Assessment (LCA) and establish eligibility for carbon credits.
Creating a detailed project description for pre-certification based on the collected data.
Choosing an accredited third-party auditor to verify compliance with set standards.
Conduct the quick Riverse KYC through Stripe for the issuance of carbon credits on Riverse registry

Riverse Certification Process

How long is the certification process?

From kickoff to the issuance of carbon credits, the process takes on average 43 days depending on the efficiency of the data collection and the audit steps. Find more details in the image below ⤵️

Riverse Certification

What inputs do we need to conduct the LCA and the certification?

During the certification process, we are likely to ask for the following type of information (not exhaustive, it will depend on your technology type):

Any material input your process requires (feedstock, electronic devices, raw material, etc.)
Distance between sourcing of materials and your location, as well as distribution distances (for textile recycling for instance)
The type of technical process you are resorting to, such as: refurbishing, recycling, pyrolysis, biobased material construction and what it entails in terms of consumption (energy, heat, other inputs and waste generated)
The end of life of your product
Additionality (see What is additionality and how to prove my project is additional?)
Co-benefits ⤵️
Anything else related to our eligibility criteria ⤵️

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Standard Compliance

Are Riverse carbon credit recognised internationaly?

The Riverse certification protocol is one of the 12 worldwide to be endorsed by ICROA, to ensure the carbon credits we certify meticulously aligns with international Net Zero frameworks and standards at each step of the process, ensuring global compatibility:

Measurement: GHG emission reductions are quantified according to ISO 14064-2:2019.
Reporting: Projects are assessed based on the Core Carbon Principles of the ICROA endorsement, adhering to Net Zero frameworks.
Validation and Verification: Audits are conducted by independent, ISO-accredited Validation and Verification Bodies (VVBs).
Credit Issuance: Carbon credits are issued and tracked on the Riverse Registry to prevent double-counting and ensure transparency.

Is Riverse certified by accreditors?

Yes, Riverse is endorsed by the following accreditations :

ICROA, an industry accreditation programme committed to enhancing integrity in the voluntary carbon market
Airport Carbon Accreditation, the only institutionally-endorsed, global carbon management certification programme for airports

Are carbon credits similar to RECs or CEEs (Energy Economy Certificates)?

Yes, carbon credits in the Voluntary Carbon Market (VCM) can be similar to Renewable Energy Credits (RECs) and Clean Energy Certificates (CEEs) in that they represent environmental attributes.

However, while RECs and CEEs certify renewable energy generation, carbon credits certify the reduction, removal, or avoidance of greenhouse gas emissions.

Can Riverse certify offtakes ?

Yes, Riverse can pre-certify projects that are not yet operational. We conduct a validation based on key criteria and develop a monitoring plan in coordination with a buyer’s agreement. This process is essential to project developers for securing the necessary investment to establish the plant.

How is Riverse ensuring the transparency and traceability of carbon credits?

Every projects certified by Riverse is uploaded to our registry. Every transaction is recorded on this registry ensuring transparency and traceability for all stakeholders.

Carbon Credit Sales

Price, Cost & Volume of Carbon Credits

How much does it cost to issue carbon credits?

Find all info here:

About Riverse -> What is Riverse’s pricing?

Does Riverse guarantee that the carbon credits will be sold?

There is no guarantee of selling the carbon credits. However, with a good communication and branding, the likelihood is very high. Half of the credits we have certified and issued are currently being contracted.

How much are carbon credits selling for?

In the unregulated VCM market, project developers have the autonomy to set prices according to their discretion.The range of carbon credit prices is quite broad, but we typically see most projects fall between 10 and 100€ per ton.Carbon credit prices can vary based on several factors, including:

The project's financial needs, which depend on its business model and complexity
The project's location
The project's vintage
The project's co-benefits
The cost of ****project certification

Removal carbon credits often command higher prices compared to avoidance carbon credits.

Based on our analysis, here is a subjective classification of carbon credit prices:

Renewable energy and non-deforestation projects in Annex B countries: 5-10€
Reforestation projects in Annex B countries: 15€
Reforestation projects in Europe: 20-25€
Industrial avoidance in Europe: 20-40€
Biobased construction storage in Europe: 40-60€
Biochar projects in Europe: 100-150€
Long-term storage innovative projects (e.g. DAC): 500€

Will carbon credits increase in price?

There are two reasons why the price of carbon credits is expected to rise:

Increasing demand
Growing complexity in decarbonization efforts, necessitating the development of more sophisticated and hence expensive solutions.

Do carbon credits expire?

Each standard has its own set of rules regarding the expiration of carbon credits. It is important to note that the Net Zero protocols also specify the accepted vintage for Net Zero claims as per their guidelines.

Typically, the value of a carbon credit declines significantly after five years of inactivity.

Role of riverse in the selling of carbon Credits

How Riverse carbon credit are sold on the market? Is Riverse a reseller?

As any standard, to avoid conflict of interest, we cannot be resellers.

However, we do as much as possible to help our certified projects sell their carbon credits :

We record their credits on our registry from which buyers can buy carbon credits.
We generate sales kits.
We connect our registry to the top and most influential resellers, including marketplaces such as Patch, Ceezer, Cloverly as well as consultancies like Eco-Act, Removall.
We connect projects to buyers, essentially institutional or corporates.

Are there exclusivity clause with Riverse ?

For every project certified by Riverse, there are no exclusivity clauses. This means that projects have the freedom to decide how they wish to utilize the carbon credits they've earned.

Project developer's rights over the Carbon Credits

What kind of companies buy Riverse-certified carbon credits?

The companies primarily situated in Europe have been actively pursuing their decarbonization strategies for several years. They aim to contribute to the expansion of Greentech initiatives in proximity to their value chains.

Do I maintain ownership over the carbon credits?

Indeed, carbon credits share similarities with other financial assets. The project developer maintains ownership of the carbon credits until they are sold and ownership is transferred. Upon sale, akin to any other asset transaction, ownership is transferred to the buyer.

Who in the value chain can benefit from the additional revenue generated by the carbon credits ?

In the value chain, various participants can benefit from the revenue generated by carbon credits. These parties typically enter into contracts to determine an equitable distribution of this revenue. Our role is to ensure there is no double counting of credits, but we do not participate in the contractual arrangements among these entities.

Can the project decide who buys the carbon credits?

Certainly, project developers have full autonomy over their carbon credits. This means they have the discretion to choose whether to sell them, select buyers, and set prices according to their preferences.

risks involved in selling of Carbon Credits

Does selling carbon credits impact our activities?

No. Issuing carbon credits is allowing greentechs to earn additional revenue only. As a standard, we guarantee there is no risk involved, including potential double counting, or greenwashing.

for Project Developers