A “Methodology” is a step-by-step plan for helping farmers earn offsets. There is no limit to the number of Methodologies, because the Carbon Market is a free enterprise system. Individuals are free to trade with each other, so long as they don’t break the law. The Government is developing methodologies, with the help of industry. Private project developers can also design their own.
A Methodology has the following parts:
1. A description of the activities that will either avoid emissions or capture greenhouse gasses. The carbon sinks and carbon sources touched Eg. soil, livestock.
2. How the baseline (starting point) and amounts of Greenhouse Gases removed or avoided.
3. How buyers can be reassured that the activities in one location don’t create more emissions somewhere else.
4. How the performance of the program will be measured.
5. How the project will be monitored.
The decision to approve a Methodology is taken by the Minister for Climate Change and Energy Efficiency on the advice of the members of the Domestic Offset Integrity Committee - an independent expert panel appointed by the Government.
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