New carbon credit methodology to tackle methane emissions launched

Swiss technology company Daphne Technology has launched new carbon credit methodology with the aim to reduce methane emissions from internal combustion engines using any methane-rich fuel. 

As informed, the methodology won an approval from Gold Standard, which sets the standard for climate and sustainable development interventions to quantify, certify and maximize their impact. The firm partnered with FReMCo Group, a global consulting group, to work on the development of this methodology.

Comprised of numerous methodologies, guidelines and requirements, Gold Standard enables the credible measurement, reporting and verification of positive impacts generated by climate and sustainable development initiatives. It was founded in 2003 by WWF and international non-governmental organizations.

Methane is a powerful greenhouse gas (GHG) with a global warming potential (GWP) 28 times that of carbon dioxide (CO2) over a 100-year period. It is responsible for at least a quarter of the current global warming.

Unlike CO2, fossil-origin methane has a much shorter atmospheric lifetime, with a GWP of 82.5 over a 20-year period, so reducing methane emissions can result in quicker climate benefits. Therefore, reducing methane emissions has gained increasing attention in recent years.

Daphne Technology’s methodology targets this critical area, focusing on reducing methane emissions to help achieve climate goals and limit the rise in global temperatures.

The company noted that methane emissions from combustion emissions are abated using an advanced after-treatment such as Daphne’s SlipPure technology. The methodology requires high-accuracy, real-time measurement before and after the abatement system to ensure robust monitoring of the greenhouse gas emission and its reduction so the company’s PureMetrics will be used.

Daphne Technology highlighted that the users will have access to United Nations Framework Convention on Climate Change (UNFCCC)-approved methodological tools. The Clean Development Mechanism (CDM) of the UNFCCC developed many carbon credit methodologies.

In the process, they also developed a number of methodological tools that can be used as building blocks to simplify other methodologies. Several CDM methodological tools are used in this methodology. For example, Tool 8 is used to calculate the exact dry tonnes of CO2 emissions emitted and abated.

With economic incentives, the companies will be able to generate carbon credits, which can be traded in global markets. This, in turn, will provide financial incentives for adopting greener practices.

The methodology is designed for the use in maritime and land-based applications involving internal combustion engines.

Engine manufacturers in the maritime industry are working on the development of technologies that will eventually eliminate the methane slip from the combustion process. This is especially the case with engines powered by liquefied natural gas (LNG).

Switching maritime engines from oil to LNG has the potential to radically reduce carbon dioxide (CO₂) emissions. However, methane has a greenhouse effect, which means that methane slip needs to be tightly controlled in order to make the fuel more environmentally friendly.

“We are thrilled to lead the way in methane emission reduction with this innovative methodology. Methane is a major contributor to global warming, and our approach not only curbs these emissions but also supports industries in their transition to more sustainable practices. As a climate deep-tech leader, it’s natural for us to take a lead in this direction, securing strategies for a better future,” Mario Michan, Founder & CEO, stated.

“This new methodology provides a tangible incentive for investment in green technologies and operations. I congratulate Daphne Technology and FReMCo on the milestone and look forward to seeing the methodology being adopted and helping to reduce emissions in both maritime and land-based engines,” Margaret Kim, CEO of Gold Standard, said.

The global carbon pricing market reached nearly $100 billion in revenue in 2023, highlighting the growing importance and potential of carbon credits in driving climate action. With this new methodology, project developers hope to make a substantial impact on global methane emissions, supporting international efforts to mitigate climate change and promoting sustainable industrial practices.