What is the Plan Vivo Non-Permanence Buffer?
Each project is required to contribute a percentage of their climate benefit to the Plan Vivo non-permanence buffer, which remains unsold and guarantees the integrity of Plan Vivo projects in the face of risks to permanence or potential reversals of emission reductions.
The Plan Vivo buffer comprises of an ex-ante pooled account and an ex-post pooled account, both located on the Markit environmental registry. These credits (PVC-Rs) are sourced across all qualifying projects, and can be used to compensate for unexpected losses of carbon stocks or reversal of emission reductions. The proportion of credits that a project allocates to a buffer account is evaluated as part of the validation and registration process. For further information, please refer to the Plan Vivo Procedures Manual (pg. 29) and Technical Guidance on Setting the Risk Buffer.
Current Buffer Pools
- Those projects that have contributed to, and benefit from, the pooled non-permanence buffer account (listed above), are those that have been certified to, or have migrated to, the latest version of the Plan Vivo Standard (currently v. Dec 2013).
- As of December 2018, issuances from qualifying projects total 1,804,656 ex-ante and 283,287 ex-post PVCs.
- Plan Vivo is currently working on defining a standardised approach for quantifying the proportion of ex-ante certified credits that can now be considered ex-post. This conversion process will take place following a successful verification audit. Once this approach has been defined, the Procedures Manual will be updated accordingly, in addition to all related entries on this web page and the Markit environmental registry.