A joint PRESS RELEASE from Daphne Technology, FReMCo Group and Gold Standard
Daphne Technology, a leader in climate deep tech, announces the approval of its pioneering carbon credit methodology by Gold Standard. This milestone directly targets reducing methane emissions from internal combustion engines using any methane-rich fuel.
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.1
Key Features of the “Methodology for Reducing Methane Emissions from Combustion Engine Exhaust” Carbon Credit Methodology:
- Advanced Methane After-treatment: Methane emissions from combustion emissions are abated using an advanced after-treatment such as Daphne’s SlipPure™ technology. Incentivising quick deployment of methane reduction technologies in existing assets and faster methane emission reductions and impact on the planet.
- Real-Time Measurement: The methodology requires high-accuracy, real-time measurement before and after the abatement system ensuring a robust monitoring of the greenhouse gas emission and its reduction. Daphne’s PureMetrics™ is one such measurement system ensuring a robust verification of the GHG emission and its reduction.
- 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 CO2e emitted and abated. The use of a CDM Tool ensures that the calculation of GHG emissions abated is based on a widely recognised model that is well accepted by the international community and well understood by the scientific community.
- Quantification and Verification: Provides a robust framework for quantifying, monitoring, and verifying methane emission reductions, adhering to principles of transparency and integrity.
- Economic Incentives: Enables companies to generate carbon credits, which can be traded in global markets, providing financial incentives for adopting greener practices. Incentivising reductions of GHG emissions today.
- Broad Applicability: Designed for use in maritime and land-based applications involving internal combustion engines, ensuring wide-scale impact on methane emission reductions. Maximising the resulting GHG reduction and, ultimately, the impact.
The Gold Standard, renowned for its rigorous certification process, ensures that carbon credit projects deliver genuine and measurable climate and sustainable development impacts2. Established in 2003 by WWF and a group of international NGOs aims to ensure every dollar of climate and development funding goes as far as possible. Their standard, Gold Standard for the Global Goals (GS4GG) is synonymous with the highest levels of environmental integrity and contribution to sustainable development.
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. – Dr Mario Michan, Founder & CEO
The FReMCo Group, a global consulting group and our partner in this development, has extensive experience in methodology and project development and emissions credit trading and continues to work in carbon markets, climate change mitigation and climate finance. FReMCo’s expertise has helped to ensure that the methodology is robust and effective across various applications.
Alison Morris, VP at FReMCo added: “We are very happy to see this leading-edge methodology approved by Gold Standard, which tackles the timely and important issue of methane emissions. Working with Daphne was an excellent experience, and their passion and knowledge in this area is untouched. We anticipate that the projects and carbon credits that follow this approval will be unique and valuable in the voluntary carbon market.”
Margaret Kim, CEO of Gold Standard, said: “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.”
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 action3. With this new methodology, project developers are positioned to make a substantial impact on global methane emissions, supporting international efforts to mitigate climate change and promoting sustainable industrial practices.
To see the full details of the methodology, please go to Gold Standard:
Methodology for Reducing Methane Emissions from Combustion Engine Exhaust >>
Read more in the media release from Gold Standard >>
Footnotes:
1. IPCC
2. Gold Standard
3. World Bank, 2023
Ends
Notes to editors
About Daphne Technology
Daphne Technology is a Swiss-headquartered methane slip abatement company dedicated to reducing methane emissions from gas-powered engines on land and at sea. Our innovative products reduce methane slip and provide real-time emissions data, enabling operators to meet stringent regulatory standards, enhance environmental responsibility, and improve operational efficiency. Committed to solving the methane emissions challenge, Daphne Technology empowers industries to navigate the energy transition with solutions that deliver measurable impact. Backed by global industrial leaders, we are recognised for our contributions to a cleaner, more sustainable future.
About FReMCo Group
Founded in 1981, The FReMCo Corporation Inc. is a business growth consulting firm that focuses on leveraging the environmental and emissions benefits within its clients’ product and technology portfolios to reduce greenhouse gas emissions, stimulate business growth and mitigate climate change. FReMCo specializes in groundbreaking, unique and first-of-its-kind projects. Having been involved in emissions credit trading related to various pollutants and market-based measures since 1991, today, FReMCo continues to work in the carbon markets and the areas of climate change mitigation and climate finance. More information can be found at www.fremco.com.
