Thallo Credit Criteria

The Thallo Credit Criteria is based on extensive consultation with institutional experts across the Voluntary Carbon Markets. We have endeavoured to ensure highest quality from existing standards, while accommodating for cutting-edge carbon removal innovation.

At Thallo, we accept credits on our platform that meet the following criteria:

• Additionality

  • The GHG emission reductions or removals from the mitigation activity would not have occurred in the absence of the financial incentive created by carbon credit revenues, nor occur because the carbon reducing activity is required by law. (from CCP, amended as per RB’s suggestion)

• Permanence 

  • A durability of at least 30 years must be reached for nature-based projects, and at least 100 years for technology-based projects. On top of this, projects should possess a reasonably sized buffer to ensure against reversals. 

• Leakage

  • The greenhouse gas (GHG) emission reductions or removals from the mitigation activity do not cause any upstream/downstream leakage, activity shifting, shift in demand/supply of the carbon emitting product or service or ecological leakage. Each project must showcase a credible method for addressing and understanding these types of leakage. (from CCP, amended as per RB’s suggestion)

• Vintage

  • Thallo marketplace will accept vintages that fall within a 10-year rolling window i.e. in 2023 we accept credits up to and including 2013 vintage.

• Carbon credits from renewable energy projects 

  • These credits are only accepted if they strictly adhere to the financial additionality principle, i.e. carbon credits from renewable energy projects will only be listed if the projects are not financially viable over a reasonably short time period (5 years). 

• No double counting

  • The GHG emission reductions or removals shall only be counted once towards achieving mitigation targets or goals. Double counting covers double issuance, double claiming, and double use, for instance on carbon markets and for countries Nationally Determined Contributions (NDCs)

AND adhere to one or more of the following:

• Verified by an international standards-setting registry, including

  • American Carbon Registry

  • ART Registry

  • BioCarbon Registry

  • Carbon Standard International / Carbon Future

  • Cercarbono / EcoRegistry

  • Climate Action Reserve

  • Global Carbon Council

  • Global Emissions Standard

  • Gold Standard

  • International Carbon Registry

  • ONCRA

  • Plan Vivo

  • Puro.Earth

  • UK Land Registry

  • UNFCCC Clean Development Mechanism

  • Universal Carbon Registry

  • Verra

  • Woodland Carbon Code UK

  • National Registries

• CORSIA-eligible/approved

Additional Considerations:

• Regarding corresponding adjustments, we will closely follow the market development and best practices which will probably lead to individual carbon credit tagging of whether or not the carbon credit is associated with corresponding adjustments (as evidenced by authorization and authorized use) by the host and/or buyer country.

• Our approach already follows the IETA guidelines on blockchain use in carbon markets. We are closely tracking various broad market initiatives to ensure we’re at the forefront of quality, including the Integrity Council on Voluntary Carbon Markets, the Voluntary Carbon Markets Initiative, and others.

• We are in touch with and evaluating the value of different carbon ratings projects, and plan to add these to our platform in the near future.