The United Nations Framework Convention on Climate Change (UNFCCC) has formally adopted a methodology for identifying energy efficiency in buildings developed in Abu Dhabi by Masdar Carbon.
A first for the GCC region, the new methodology by Masdar Carbon enables organisations to monitor emission reduction from new buildings (large scale) under UNFCCC and potentially claim carbon credits under the Clean Development Mechanism (CDM) process.
Masdar Carbon?s methodology, the first large-scale system in the world for emission reduction credits in the construction sector, provides the guidelines for determining the baseline emissions from a building and monitoring energy efficiency improvements. It is also the first time the construction sector has been covered under the CDM scheme.
Project developers worldwide can utilise this methodology and potentially claim additional revenue streams from the sale of carbon credits leading to an increase of financial returns in these developments with the target to promote green building initiatives.
Work on the entire process started in 2009 and Masdar Carbon closely worked with the UNFCCC methodology panel to lead the approval process to success.
Bader Saeed Al Lamki, Associate Director, Masdar Carbon, said: ?According to industry statistics, the construction sector is responsible for around 40 per cent for global greenhouse gas (GHG) emissions. However, lack of an appropriate large scale methodology has so far failed to incentivise energy efficiency measures in this sector. Now, Masdar Carbon?s new methodology will enable removal of such barriers for implementation of energy efficient projects in this sector.?
Masdar Carbon took a lead role and appointed Perspective GmbH of Germany to work on the development of the methodology. The Masdar unit was involved at every step of formulating the methodology to ensure climate conditions in the Middle East and other regional circumstances are given due consideration. This is expected to help energy efficiency drive in buildings in the MENA region, where the GHG emission is relatively higher.
?As a Masdar unit mandated to realising profits from a portfolio of carbon credits, Masdar Carbon will continue exploring innovative methodologies that will positively impact the CDM and carbon capture and storage (CCS) projects,? added Al Lamki.