Genesys Reserve announces the launch of its 1st Electric Vehicle (EV) Methodology for the creation of carbon credits. The standard will be used to measure, monitor, report and verify carbon emissions reductions associated with the use of electric vehicles (“EV”). The methodology developed by Karbon Hero has undergone extensive research and development to ensure localised feasibility in the issuance of Genesys Carbon Certificates (GCCs).
The methodology is aimed to incentivize fuel switching from carbon intensive vehicles to EV, reducing overall carbon emissions. It will primarily quantify emission reductions from the process of charging an EV at a charging station or battery swapping station and issue carbon credits for the verified reductions. The methodology can be adapted and deployed globally according to a country’s energy mix for optimal carbon emissions reduction quantification.
“As we move closer towards our climate goals, we will begin seeing more electric vehicles on the road and following the need for better infrastructure. Today we provide a way for EV businesses across the spectrum to further monetise their efforts through the trading of carbon credits,” said Dr Sarah Shahril, Founder and CEO of Karbon Hero.
The methodology adapts and integrates existing standards such as the; (1) CDM Methodology on Electric and Hybrid Vehicles; (2) The Integrity Council for Voluntary Carbon Market Core Carbon Principles; and (3) Intergovernmental Panel on Climate Change (IPCC). However, the exclusive Quality Assessment and Verification Framework (“QAVF”) released by Karbon Hero during the launch of Genesys Reserve is the main underpinning framework used in the development of this methodology, to guarantee impactful offset activities and creation of high quality carbon credits.
Genesys Reserve invites potential project developers to collaborate. The Electric Vehicle (EV) Methodology integrates a simple and practical approach, thus anybody can embark in the development of an EV related offset project.
