Carbon Trading coordinates between many stakeholders to create and sell Carbon Removal Tonnes . One represents one tonne of removed CO2e stored for a minimum of ten years. Described below is the overall process for creating, in five basic steps, with additional details on the various stakeholders involved throughout the process.
More than one method of removing and storing carbon exists. While Carbon Trading aims to serve all methods within its marketplace, the current available methodology is the Australis Croplands Methodology, which farmers can use to get paid for additional CO2 removal.
Before Carbon Trading can generate a single RT, Suppliers must first register their carbon removal project with Carbon Removal by reporting any new (or planned) carbon removal practices they’ve undertaken, with enough data to establish an accurate project baseline.
For example, farmers provide their historical land management and crop data for 30 years. To increase the likelihood of carbon storage, suppliers commit to annually reporting carbon removal data for at least ten years.
Once project data is completely entered, a third-party carbon quantification tool estimates the carbon removal amount. In Carbon Trading Australia Croplands Methodology, our partner Soil Metrics estimates the impact of a farmer’s regenerative practices on carbon removal and sequestration. Nori is not involved in generating a project’s carbon removal baselines and estimates to avoid conflict of interest.
In order to ensure the represent real carbon removal and storage, Nori requires independent 3rd party verification. Nori approves reputable verifiers in existing registries to review a supplier’s Carbon Trading project data. With independent verification of project data, Nori avoids a conflict of interest.
Nori uses the carbon removal estimates generated by the carbon quantification tool to determine how many CTRTs to create for a project.
When working with farmers, Carbon Trading determines whether switching to regenerative practices has resulted in increased carbon removal and sequestration when compared to previous practices. Carbon Trading generates one CTNRT for farmers for every tonne of removed CO2e and stored in soils for a minimum of 10 years.
Buyers are able to purchase CTRTs directly from Suppliers in our marketplace. In Nori’s marketplace, Suppliers receive the total price of purchased CTRTs. Carbon Trading then charges an additional 15% transaction fee to the buyer.
In summary, suppliers provide Carbon Trading with their historical project data. Third-party verifiers then legitimize that data by ensuring it’s reasonable, legally permissible, and does not appear in other registries. Next, a third-party quantification tool creates carbon removal estimates that inform Carbon Trading’s CTRT generation. Finally, buyers can purchase Carbon Trading Carbon Removal Tonnes (CTRTs) from Suppliers.
Current projects listed and selling in the marketplace are from the Australia Croplands Methodology, but new methodologies will be roadmapped soon.
You can buy CTRTs now! For larger purchases over 10,000 CTRTs, schedule a call with us today.