How It Works
Developing a Project and Receiving Credits through Climate Forward
Companies, organizations and other entities that develop projects and are credited Forecast Mitigation Units® (FMUs) are called Project Proponents. They must be Climate Forward account holders to participate in the program. Projects may be developed according to a forecast methodology that has already been approved or the Project Proponent may choose to submit a new forecast methodology for Climate Forward review and approval.
Please see the section on Methodologies for additional information.
Acquiring Climate Forward Credits for Retirement
Companies, organizations and other entities that need to mitigate emissions from future projects will find FMUs to be the ideal option. In some instances, an entity needing FMUs may be a Project Proponent that developed its own project and was directly credited FMUs. If an entity is not a Project Proponent itself, it may connect directly with Project Proponents to arrange the purchase and transfer of FMUs.
Recommending and Supporting the Use of Climate Forward
Government agencies, law firms, urban planners, advocacy groups and others may recommend the use of Climate Forward for regulatory compliance and voluntary purposes because of the rigorous, transparent nature of the program.
Climate Forward Program Fee Schedule
The Reserve imposes required fees that are charged to account holders during the project submittal and registration process. A summary of those fees is below:
|Account and Credit Issuance Fees|
|Account Setup Fee
Fee charged upon application for an account
|Project Submittal Fee (per project)
Fee charged upon submission of a project under a Reserve-approved forecast methodology
|Issuance Fee (per credit)
Fee charged per credit issued after a project has received final approval from the Reserve
|Transfer Fee (per credit, paid by transferor)
Fee charged for the transfer of credits between account holders
|Retirement (per credit retired)
Fee charged to move credits to a locked retirement account and issue retirement certificate
The Reserve imposes required fees that are charged to methodology developers during the methodology submittal and review process. For scenarios that are not clearly described in the below table, the Reserve maintains the right to make a case by case determination on the appropriate fee to be charged. A summary of fees related to methodology submittal and review is below:
|Methodology Approval Fees|
|Review fee for new methodologies and modifications to Reserve-approved forecast methodologies ||$7,500|
|Peer review fee for new methodologies and methodology revisions ||Variable|
|Review fee per new default value for an existing parameter within relevant methodology parameters document||$500|
|Reforestation – Review fee for new projection (quantification parameter, per projection)||$1,500|