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In the rapidly growing global market for emission reductions, ICF International is an internationally recognized leader in developing carbon credit projects under the Clean Development Mechanism (CDM) and Joint Implementation (JI) mechanism of the Kyoto Protocol.
In 2006, ICF International was named Best Advisor for the European Union Emissions Trading Scheme (EU ETS) and Best Advisor for North American greenhouse gas markets by Environmental Finance Magazine. Overall, ICF was voted best advisory company (Runner Up) for Kyoto project credits.
ICF has provided strategic and due diligence services for more than 300 proposed CDM and JI projects, including due diligence on the first ever U.S.-Canada emission reduction unit trade and the first World Bank Prototype Carbon Fund offset project. We are highly experienced in helping companies undertake CDM/JI market assessment studies, providing support throughout the project life cycle, and bringing emission reduction credits to the market. Critically, our staff based in Asia, Latin America, and Eastern Europe are well acquainted with many Designated National Authorities (DNA) in countries with high CDM/JI potential. ICF has a suite of tools available to assist in the identification and development of carbon credit projects, including K-PRISM® and InCap™.
ICF has demonstrated capabilities in:
- Preparing project design documents (PDD)
- Developing baseline studies
- Designing monitoring and verification protocols (MVP) for CDM projects
ICF prepared the CDM documentation for the first project ever to have its methodology approved by the CDM Executive Board and has since prepared two new methodologies, several PDDs, baselines, and MVPs for corporate clients across various CDM sectors and geographies. ICF also has considerable experience in undertaking CDM/JI capacity-building activities for many leading companies around the world.
To support its activities, ICF has developed a number of tools to address and quantify the risks associated with CDM projects and calculate the price of carbon.
In addition to the reduction of GHGs controlled by the Kyoto Protocol, ICF is also active in the reduction of emissions of ozone-depleting substances controlled under the Montreal Protocol and their alternatives that contribute to global climate change.
Selected Projects
Capacity Building for Identifying CDM Project Opportunities. ICF supported a large waste management company to identify activities that would enhance its internal capacity for undertaking projects to reduce greenhouse gas emissions across its global portfolio of managed landfills. ICF developed a guidebook for the company’s operations to provide guidance on first-level analysis of project opportunities and to structure the analysis of emission reduction potential for landfill-gas-to-energy projects.
Development of CDM Project Screening and Tracking Tools for a Global Mining and Metals Company. ICF International developed a two-part screening tool to be used by the client to help prioritize proposed CDM projects from within its global portfolio of operations. The tool is now being used to help the company evaluate projects and to focus its resources on high probability projects.
Project Design Document (PDD) for a Cement Company Under CDM. ICF prepared a PDD, including the development of a new Baseline Methodology, outlining the investment taken and to present the case to the CDM Executive Board (EB) of why Certified Emission Reductions (CER) ought to be granted. The project involved the material substitution of traditional feedstocks used in cement kilns with acid slag from a local steel plant. Use of the acid slag was unprecedented and also assisted the steel plant with the environmental challenges posed by disposal of the slag material. The new baseline methodology was recently approved by the Methodology Panel of the CDM EB.
Climate Change Advisory and Implementation Services for the EBRD and EIB. ICF was selected by the European Bank for Reconstruction and Development (EBRD) and the European Investment Bank (EIB) in January 2007 to help develop CDM projects in all its CDM-eligible countries of operation. The contract will run through 2013, during which ICF will help develop a portfolio of carbon credit projects originating in countries where the EBRD, and to some extent EIB, operates in Central Asia, the Caucasus Region, and the Balkans. This will include identifying potential CDM projects in the region, developing and implementing baseline methodologies, obtaining host country approval, undertaking stakeholder consultation, preparing the PDDs, assisting with validation, and training host country consultants in developing CDM projects in the region.
CDM Project Development and Due Diligence
ICF has completed a number of CDM projects recently on many continents, including Latin America, Africa, and Asia. For example, for the largest private oil and gas company in Latin America, ICF is providing CDM project development, including developing a new methodology, and due diligence support for an energy efficiency project for one of the company’s refineries in Buenos Aires. Also, for the World Bank, ICF recently completed the Global Gas Flaring Reduction Partnership, which provided capacity building to the government of Nigeria to monetize the value of gas flaring projects in terms of carbon credits. The program entailed building Nigerian capacity to screen potential projects, prepare project design documents (PDD), and manage CDM projects in gas flare reduction in the oil and gas sector. Other projects include PDDs for a natural gas-fired co-generation installation in Brazil, a small scale hydro project in Sri Lanka, and a hydrochlorofluorocarbons (HCFC) manufacturing plant in China.
Monitoring and Verification Protocol (MVP) Support. ICF developed the first MVP for the World Bank Prototype Carbon Fund's first investment project, which was a landfill gas to energy project in Latvia. This leading-edge project prepared the first set of procedures and frameworks for the Bank, guidelines for monitoring and verifying reported GHG emissions reductions, and other project criteria. ICF developed a GHG emission accounting software program that allowed project developers to calculate methane and carbon dioxide emissions from the methane capture and power generation at the project sites. The MVP was peer reviewed and published for use by the international community.
Destruction of Ozone Depleting Substances (ODS) for Carbon Credits, U.S. EPA. In collaboration with the U.S. Environmental Protection Agency, ICF is developing a project proposal to provide carbon credits to industries for the destruction of ozone depleting substances (ODS)—in lieu of indefinite storage or venting. To this end, ICF has developed a methodology to determine the project boundary, emission baseline, and resulting emission reductions. If the project proposal is accepted for trading in the carbon markets, companies will receive carbon credits for the destruction of their ODS. As part of this work, ICF has conducted extensive research on ODS management scenarios and associated emissions and created a Microsoft Excel-based tool that can be used by future program partners to determine the potential emissions savings (i.e., ozone and climate benefits) from an ODS destruction project. In addition, ICF prepared briefs on topics such as ODS destruction project concepts, benefits, and partner responsibilities.
Project Design Document (PDD) for Corn Products in Brazil under the CDM. Corn Products has a major corn milling operation in the state of Sao Paulo, Brazil. To meet its steam and energy requirements, Corn Products decided to install a gas-fired cogeneration system. This action was taken even though other lower cost alternatives were available. ICF is working with Corn Products to prepare a PDD outlining the investment taken and to present the case to the CDM EB explaining why CERs ought to be granted. This project involves development of a new methodology for the CDM EB, so ICF is also preparing the required documents to seek CDM EB approval.
Evaluation of Cataguazes-Leopoldina's PDD. ICF analyzed a PDD prepared by Cataguazes-Leopoldina, an energy company. The scope included an evaluation of the strengths and weaknesses of its PDD and was intended to provide an estimate of price and level of effort associated with the development of a CDM-compliant PDD. The project involves the implementation of 11 hydropower plants: 9 small hydropower plants (more than 1,000kW and less than 30,000kW) and 2 medium size hydropower plants.
Geothermal Project in Indonesia. ICF compiled the baseline study for a geothermal project in Indonesia under construction by an international oil company interested in participating in the Dutch Government-funded
Certified Emission Reduction Unit Procurement Tender
(CERUPT) program. This project is the largest one ever approved under the program.
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