GasID Creation
Last updated
Last updated
In order to understand how Carbon Credits from recycling can be tokenized into TCCs we must first understand GasIDs which are the building blocks for TCCs. GasIDs codify how much GHG emissions are avoided through recycling. GasIDs are derived from TRCs and the MassIDs contained within them. They are made from two components:
While it is easy to reference the code of the already packaged and audited TRC, calculating the weight of total GHGs avoided is more complex. This section is devoted to explaining this process and how the GasIDs then form TCCs.
First, let’s review how TRCs are created, beginning with the MassID (M):
Once it is known that a TRC contains a set of MassIDs weighing 1,000 Kgs for a specific waste type it is then possible to determine the greenhouse gas emissions (GHGs) that were avoided by recycling waste compared with a baseline scenario.The equation for the Total Avoided Emissions (AE) is the following:
The baseline emissions (BE) are the amount of GHG that are emitted when the material contained in the TRC is not recycled. This occurs, for example, through long-term release of methane and other gasses when food waste and green waste are disposed of in a landfill. The baseline emissions are substantially larger than the real emissions (RE) that occur from sustainable recycling practices, such as composting of biological waste.
Thus, a GasID is generated based on the weight of carbon dioxide that was avoided (AE) by recycling a TRC’s material according to the mass type and location of recycling. The real emissions (RE) is subtracted from the baseline emission (BE) resulting in the avoided emissions (AE). Therefore, a GasID is defined as:
When Carrot Fndn Auditors verify MassID recycling to be packaged and minted into TRCs, they also ensure the baseline emissions (BE) calculations are correct for the MassIDs so that the GasID is properly assigned to the Tokenized Recycling Credit.