Developing a standard for CO2 emission credits

Commodity traders have a saying "you grade it and we\´ll trade it". The IEEE Standards Association (IEEE-SA) has recognized the need to grade and quantify greenhouse gas emission reduction credits from initiatives and projects implemented throughout the electricity industry, end users and associated processes. The electricity industry is a major contributor (about one third) to global CO₂ emissions. Therefore it makes good sense for the industry to develop and implement technology options to achieve cost effective reductions. It also makes sense for the industry to develop the standard rules for quantifying emission reduction credits from such initiatives. If the industry does not, others will, and the industry may not like the result.