DNV is the first company to be accredited by the UN Climate Change Panel to validate projects undertaken by companies based in industrialised countries which invest in climate change initiatives in the developing world. The accreditation consolidates DNV's strong position in the international climate change arena.
Facing the severe consequences of global warming, the UN Climate Change Panel was established to manage climate change issues. The so-called flexible mechanisms of the Kyoto Protocol provide for transferable credits from greenhouse gas emission reduction projects.
One of these is the Clean Development Mechanism (CDM). This mechanism allows industrialised countries, or companies based in industrialised countries, to receive credits for financing reduced emission projects in developing countries. In this way, developing countries gain a new source of financing their sustainable development, whereas companies in industrialised countries can supplement their commitments to reduce emissions at home.
The CDM Executive Board, appointed by the participating members of the UN Framework Convention of Climate Change (UNFCCC), yesterday accredited DNV for validation of climate change projects. Validation is a mandatory assessment of the design of a project against defined requirements, conducted by an independent verifier. DNV is the first and (so far) the only company accredited for validation services related to renewable energy, energy efficiency and landfill gas capture projects.
"The accreditation marks an important milestone in DNV's efforts to become a world leading provider of climate change services," says Einar Telnes, technical director in DNV. DNV has developed methodologies to secure credible audits, and is already accredited under both the Californian Climate Action Registry in the US and the UK Emissions Trading Scheme.