Panda Standard

Launched in 2009. Currently active but no projects yet (as of 1/2011).

www.pandastandard.org


Overview
Market Size and Scope
Offset Project Eligibility
Additionality Requirements and Project Methodologies
Project Approval Process


Overview

Type of Standard and Context

The Panda Standard is the first voluntary carbon standard designed specifically for China. The China Beijing Environment Exchange (CBEEX) and BlueNext, and Winrock International founded the Panda Standard. Version 1.0 of the standard was launched at COP 15 in Copenhagen in December 2009:

" The Panda Standard effort will support the commitment of the People's Republic of China Government to reducing the greenhouse gas (GHG) emissions intensity of its economy, help develop national capacity in domestic voluntary carbon markets, and, as a first focus, promote Agriculture, Forestry and Other Land Use (AFOLU) GHG offset projects with significant poverty alleviation benefit."

Standard Authority and Administrative Bodies

  • The Panda Standard Board is the executive body of the Panda Standard Association that is responsible for making and driving its strategy. It is composed of the founders and co-founders of the Panda Standard as well as external representatives (national authorities, international organizations, non governmental organizations, research institutions etc).
  • The Panda Standard Secretariat is the administrative body of the Panda Standard Association. It is responsible for the various administrative tasks required along the project lifecycle and is, as such, the link between the Board, the Technical Committee, the Registry, and the project proponents.
  • The Panda Standard Technical Committee is the expert body of the Panda Standard Association. It is a pool of internal and external experts, both international and domestic, that are responsible for approving project registration as well as any new methodology, tool or procedure that project proponents may submit to the Secretariat.
  • The Panda Standard Advisory Committee is the consultative body of the Panda Standard Association. It is a pool of external experts, both international and domestic, from various organizations involved in the carbon markets.
    It is responsible for reviewing the periodic revisions to the present document, Panda Standard Sectoral Specifications and any publications of the Panda Standard Association that will be issued to project proponents.

Regional Scope

China.

Recognition of Other Standards/ Linkage with Other Trading Systems

No information.

back to top

Market Size and Scope

Tradable Unit and Pricing Information

N/A.

Participants/Buyers

Chinese VER buyers.

Current Project Portfolio

First pilot project launched in 2010.

back to top

Offset Project Eligibility

Project Types

The initial focus of the Panda Standard is AFOLU projects in high‐priority poverty alleviation regions.

Project Locations

People’s Republic of China.

Project Size

No information.

Start Date 

Eligible projects will generally have a start date no earlier than January 1, 2005. However, Agriculture, Forestry and Other Land Use (AFOLU) projects will be evaluated on a case-by- case basis.

Crediting Period

In general 7 years, renewable twice (total 21 years). For AFOLU projects, the crediting period for each type of activity will be detailed in the relevant Panda Standard Sectoral Specifications.

Co-benefit Objectives and Requirements

Overall, eligible project activities must deliver net-positive quantifiable and qualifiable socio-economic and environmental benefits.
Specific guidelines for assessing and monitoring relevant environmental and social benefits will be developed by the Panda Standard.

back to top

Additionality Requirements and Project Methodologies

Additionality Requirements

Proof of additionality must be based on a project-specific assessment that demonstrates the project faces one or several barriers to implementation --investment, technological or prevailing practice impediments-- which can be addressed through the generation of Panda Standard credits.

Projects must alsoexceed regulatory/legal requirements and go beyond common practice for the industry sector and/or geographic region in which the
project takes place.

Projects using the performance standard approach to additionality must also exceed regulatory/legal requirements.

Existing independent assessment tools for additionality, or performance standards, under other mandatory or voluntary programs which are approved under the Panda Standard, will be defined separately in each Panda Standard Sectoral Specifications.

The Panda Standard requires project proponents to assess, account for, and mitigate leakage.

Project Methodologies

Existing baseline and monitoring methodologies under other mandatory or voluntary programs will be evaluated and approved by the Panda Standard.

Project proponents can propose ne methodologies or performance standards. Proposed new baselines and monitoring methodologies or performance standards, as well as any specific tools or procedures must be approved by the Technical Committee.

Project Approval Process

Validation and Registration

Validation must be performed by an independent Third Party Auditor that subsequently requests registration of the project to the Secretariat. At least one on-site visit by a Third Party Auditor is required at validation and for each verification.

Permanence

The Panda Buffer Pool will ensure the permanence of credits generated from registered Panda Standard projects that maybe subject to the risk of reversal.

Monitoring, Verification and Certification

Verification must be performed by an independent Third Party Auditor that subsequently requests issuance of credits by the Secretariat, based on the verified GHG emissions reduced or removed by the project activity. Verification of registered Panda Standard projects must be performed at least every five years, as well as at any application for renewal of a project’s crediting period, as well as at any application for renewal of a project’s crediting period.

Registries and Fees

The Panda Registry is currently under development.

back to top