Climate Neutral Commodity (CNC) has developed the first certification standard for carbon-neutral transactions and services in the raw materials industry and Bureau Veritas will be the preferred verification body to validate these carbon neutral commodities.
The commodity industry is the main contributor to global greenhouse gases emissions in terms of agriculture and land use. However, a number of ‘green’ commodity actions and transactions are now being developed in the areas of, for example, LNG, marine fuels, steel, aluminium and cobalt.
Climate Neutral Commodity has defined a certification protocol to validate climate-neutral commodity transactions, from extraction to delivery or to final consumption, as well as services – using the ‘Climate Neutral Services’ certification, for transport solutions, for example).
CNC is currently working with commodity producers to certify first cradle-to-gate climate neutral oil and minerals transactions in Middle East, Asia and Africa. CNC is also collaborating with maritime companies to issue Climate Neutral Services certification for in relation to chartering contracts for vessels in Asia and Europe.
‘Bureau Veritas is a globally renowned audit, verification and certification services provider in environmental standards for the commodity and maritime industries. It seemed obvious for us to work with Bureau Veritas in order to provide the industry with the best practices in robust certification, in line with our fundamental values of transparency and verification,’ said Paul SEBASTIEN, co-founder of Climate Neutral Commodity.