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Design options and methodological principles for a domestic carbon credit mechanism in the Kingdom of Saudi Arabia – Perspectives Climate Group

Perspectives Climate Group

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Project Overview

Perspectives Climate Group

12/2020-06/2021

Design options and methodological principles for a domestic carbon credit mechanism in the Kingdom of Saudi Arabia
Client

Kingdom of Saudi Arabia (KSA)

Name of Project

Design options and methodological principles for a domestic carbon credit mechanism in the Kingdom of Saudi Arabia

Date

12/2020-06/2021

Location
Client

Kingdom of Saudi Arabia (KSA)

Position held
Main project features:

The objective of this project was to support the Kingdom of Saudi Arabia in exploring and specifying options for designing a domestic baseline and a credit carbon mechanism that can create emission reduction credits for a domestic market and eventually Art 6 credits for international activities. The proposed mechanisms were aligned with the NDC of Saudi Arabia. both structurally and with regards to quantitaive contributions. Furthermore, Perspectives Climate Group supported the Kingdom of Saudi Arabia in proposing a rule-set for the generation of emissions reduction credits under the potential Saudi scheme and designed a pilot phase of the baseline and credit mechanism for a selected group of participants.

Project Overview

The objective of this project was to support the Kingdom of Saudi Arabia in exploring and specifying options for designing a domestic baseline and a credit carbon mechanism that can create emission reduction credits for a domestic market and eventually Art 6 credits for international activities. The proposed mechanisms were aligned with the NDC of Saudi Arabia. both structurally and with regards to quantitaive contributions. Furthermore, Perspectives Climate Group supported the Kingdom of Saudi Arabia in proposing a rule-set for the generation of emissions reduction credits under the potential Saudi scheme and designed a pilot phase of the baseline and credit mechanism for a selected group of participants. Perspectives Climate Group assisted the Kingdom of Saudi Arabia in specifying various design options for a domestic baseline and credit carbon market mechanism. The specific tasks carried out by Perspectives were as follows: ● Designing options for domestic baseline and credit mechanisms in Saudi Arabia. This included exploring and summarising the key features of domestic baseline and credit mechanisms and experiences of other countries in the recent past. Learning from the insights of the aformentioned analysis, Perspectives then recommended design options for domestic baseline and credit scheme in KSA – covering both mitigation and adaptation action. ● Under the potential Saudi scheme, Perspectives proposed a set of rules and methodologies for generating emission reduction credits. ● Next, Perspectives designed a pilot phase of the baseline and credit mechanism for selected group of participants involving large entities from different sectors to ensure economic diversification. ● Furthermore, Perspectives was involved in updating the calculations of the grid emission factor of KSA. ● As a final contribution to this project, Perspectives summarised the latest status of international negotiations on the planned Art 6 rulebook and highlighted critical aspects for KSA. Consequently, Perspectives elaborated on the terms and requirements for connecting the domestic baseline and credit mechanism with international buyers of credits.

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