Water and Energy for Food (WE4F): Grand Challenge for Development the Middle East and North Africa (MENA) Regional Innovation Hub – Assistance for Carbon Credit Sales
Client WE4F MENA Regional Innovation Hub
Client WE4F MENA Regional Innovation Hub
Water & Energy for Food (WE4F): A Grand Challenge for Development is a joint international initiative of the German Federal Ministry for Economic Cooperation and Development (BMZ), the Foreign Ministry of the Netherlands, Norway through the Norwegian Agency for Development Cooperation (Norad) , Sweden through the Swedish International Development Cooperation Agency (Sida), European Union (EU), and the U.S. Agency for International Development (USAID)”. Within this initiative the MENA Regional Innovation Hub (MENA RIH) supports innovators that work in the region and produce more food while using less water and energy, to impact food security, gender and poverty reduction in an environmentally sustainable way.
Project Descriptions and Objectives
Together with investors and partners, the MENA RIH works to scale mid-to-later stage enterprises that have an environmental and social impact in the water- energy-food nexus. These climate mitigation impacts can be monetized by registering the project(s) to an internationally recognized standard, which issues carbon credits based on the emissions reductions or removals that the project has generated. Three selected innovators will receive the required support to develop a carbon credit project.
In this context, the Berytech Foundation is seeking a service provider to assist innovators in selling carbon credits in international markets, as part of broader support to upgrade operations and access challenging markets.
UPM was the sole contractor for this assignment and reviewed the projects and technology solutions of three innovators (Biodome Marco in Morocco, Green Essence in Lebanon and Egymag in Egypt) while providing capacity building to the investors along the project.
Project’s objectives and key activities are listed hereunder:
– Assessment of the readiness of individual projects of the three pre-selected innovators to be registered as a carbon credit project. This included data collection, identification of data gaps, challenges and risks, and preparation of a preliminary assessment report.
– Development of a roadmap / action plan for all three innovators for one of their projects to generate and sell carbon credits. This included a market scan to determine relevant market opportunities for carbon credit sales, determination of crediting schemes and methodologies, identification of case studies with similar projects as reference for the innovators, estimation of GHG reduction potential and the creation of an action plan tailored for each innovator.
– Preparation of the required carbon credit project registration documentation for the project of one innovator with highest potential of selling carbon credits. This included a comparison table to determine the most promising innovator to sell carbon credits, preparation of draft project design document (PDD), stakeholder consultation documentation and legal documentation as well as a detailed action plan with potential selling prices and potential buyers.
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