We verify forestry carbon capture and long term storage

GHG Emitters historically have enjoyed a licence to pass the social cost of increasing global temperatures without economic consequences. For example, burning a litre of petrol emits 2.3 kg CO2 which stays in the atmosphere for hundreds of years. To neutralise that impact an emitter needs to prove, to the same level of certainty, that it has captured and stored 2.3 kg of CO2.

Failure to capture and store the equivalent GHG that an emitter is responsible for imposes social and financial costs on future generations. Emitters can no longer assume they have a cost free right to pollute.

While emitters are starting to be penalised for this “free carry” of the social and economic consequence of their actions, via fines and CAP and trade schemes, they are also being pressured in other ways.

First, companies are increasingly being required to disclose climate change risks to their businesses and how they are proposing to mitigate them. Capturing and storing GHG emissions is an obvious solution.

Second, emitters may be under private pressures from supply chain partners, bankers, insurers (including directors insurance), auditors and activist shareholders to demonstrate meaningful climate action.

Third, if emitters make GHG Statements they will need to prove what is implied, usually that their actions are helping the planet, or face consumer protections, financial market participation rules and greenwashing claims.

The key to meeting all these challenges is proving longevity of storage of captured GHG emissions. PFS Standard Part II, Version “Best practice for proof forestry CO2 captured remains stored until 2100” does this.  For Forestry capture and proven storage no other published standard does.

PFS is an ISO compliant verifier of captured forestry CO2, and proven storage of that CO2 until at least 2100. PFS will verify under a validated standard, the PFS Standard, in compliance with its methodology. SGS, its validator, is the world’s leading inspection, testing and certification company (formerly Sociėtė Gėnėrale de Surveillance SA).

The SGS validation assessment of the PFS Methodology concludes “the PFS Standard Version 1 conforms to the principles and essential requirements outlined in ISO 14064-1:2018, ISO 14064-2:2019 & ISO 14064-3:2019.” SGS also concludes “that the consideration of ICVCM Principles is clear and appropriate”.

Once applicants for verification of forests for compliance with the PFS Standard receive a verification from PFS, the latter’s verification will itself be verified by SGS a leading Validation/Verification Body (VVB). The SGS Sustainability Assurance concludes “SGS recommends the adoption of the proposed “PFS Certification Standard” for evaluating permanent forest carbon storage and removals”.

To be verified under the SGS validated methodology, tonnes of forestry CO2 removal, net of project GHG emissions, must be proved to be captured and proven stored until at least 2100. The latter requires proof of silviculture longevity, growth in a strong rule of law country where property rights are protected and infringements robustly policed, a covenant on the forest land title against felling, and proper discounts for climate and other risks. There are other requirements, such as a forest not turning carbon negative before 2100, and these are prescribed in the PFS Standard.