CNaught maintains a very high quality standard for all projects in the portfolios we manage. To ensure that a project meets this standard, we perform due diligence that’s backed up by third-party ratings agencies’ independent due diligence.

Additionality:

This project is highly additional, meaning that this project activity is unlikely to have occurred in the absence of carbon funding. This project is destroying stockpiled CFC-11, a potent greenhouse gas. South Korea has no mandate requiring the destruction of this substance nor does it offer any financial incentives encouraging its destruction. Before this project, CFC-11 canisters were being stored indefinitely and slowly leaking their contents into the atmosphere.

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Over-Crediting:

This project has very low risk of over-crediting. The project uses a conservative approach to calculate emissions by only receiving credits for a portion of the emissions they are avoiding. The emission reductions are also calculated using incredibly precise sensors to measure how much CFC-11 is destroyed, significantly reducing the risk of miscalculation. Calyx Global similarly found that this project had an incredibly low risk of over-crediting, which is part of why they rated the project highly.

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Durability:

This project activity is highly durable as its emissions reductions are considered permanent, since CFC-11 cannot be emitted into the atmosphere once it has been destroyed. Production of CFC-11 is also now banned globally, so there is no risk of the project’s emissions reductions being reversed by the production of new CFC-11.

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Double-Counting:

The project credits have a very low risk of being double counted. There are no regulatory obligations being met by the project activity and the project’s registry, ACR, has mechanisms in place to ensure that the project is not registered in any other programs.