First, we only short-list projects that fully comply with the requirements of industry body ICROA’s Code of Best Practice. This means they have been independently verified against the approved international standards set out in the Code such as the Verified Carbon Standard (VCS), Gold Standard or the United Nations Clean Development Mechanism (CDM).
BP Target Neutral makes site visits to all the low carbon development projects.
Second, if a project makes our shortlist, the bpTN Project Selection Forum carefully assesses its robustness and ability to deliver socio-economic and environmental benefits based on their contribution to the UN Sustainable Development Goals. The Forum comprises independent Non-Governmental Organisations (NGOs) who are involved in the voluntary carbon offsetting sector.
Third, we visit each project to assure ourselves that the carbon accounting work of the auditors is of the highest quality and to examine aspects outside the auditors’ scope such as human rights, health and safety or other issues that might involve reputational risk. By visiting project sites, our staff can also assess the various socio-economic benefits that accrue to local communities. These range from creating long term employment, better energy security, and improving local infrastructure, skills, training and knowledge transfer that supports local low carbon growth agendas.
This means that individuals and companies who offset their carbon footprint with bp Target Neutral can have confidence that their efforts and investments not only reduce carbon but also make an important contribution to a wide range of benefits for local communities.