The Initiative Participants will evaluate each project proposal based on the criteria below. The Initiative Participants reserve the sole right to use their judgment when applying or modifying this evaluation approach, and to apply their own assumptions for evaluation purposes. See the following Disclaimer.
Adherence to Specific Window Criteria. Each RFP Window outlines specific criteria that projects must meet. The Initiative Participants will consider how well the project meets the applicable criteria.
Cost Effectiveness. The measure of cost effectiveness will be defined as U.S. dollars per short ton (CO2e) of reasonably assured, high quality GHG offset. The Initiative Participants reserve the right to suspend project evaluation and/or negotiations if the price of GHG offsets varies materially from that initially proposed.
Reliability of Proposing Entity. The Initiative Participants will consider the qualifications of the proposing entity, the proposing entities past experience with similar projects, if any, and the qualifications of any organizations cooperating with the project. Note that proposing entities will be required to demonstrate their financial and institutional capability to deliver the project that they propose.
Reliability of Project Concept. In evaluating the reliability of GHG offsets delivery, the Initiative Participants will consider the quality of the project concept and design, and the performance of similar projects.
Monitoring and Verification Plan. The Initiative Participants expect high quality Monitoring and Verification (M&V) Plans to be implemented for all projects. Although final M&V Plans are not expected to be developed until later in the process, a strong M&V concept is important for Phase I applications.
Mitigating Financial Risk of Initiative Participants. The Initiative Participants prefer projects that reduce the risk that their investment may not yield the anticipated amount of tons of GHG offsets. Initiative Participants are interested in evaluating risk mitigation options that applicants may propose in the Project Information Document.
Willingness to Accept ERPA Terms and Conditions. Standard ERPA terms and conditions will be provided to project applicants invited to submit Phase II responses.
Location. The Initiative Participants will consider projects located in the U.S. and its jurisdictions only. Each window provides specific guidance on the eligibility of specific geographic areas.
