Project Eligibility
Last updated
Last updated
To uphold the integrity, transparency, and environmental impact of the BEC methodology, specific eligibility criteria have been established for Bitcoin mining facilities seeking certification. These criteria are designed to ensure that only mining operations with a genuine commitment to sustainability can participate in the BEC Registry. Clean Incentive identifies project eligibility using three key criteria:
Provision of Comprehensive and Verifiable Data
Demonstrated Use of Renewable Energy
Adherence to GHG Protocol Standards
Eligibility is restricted to Bitcoin mining operations capable of furnishing detailed and verifiable data regarding their energy consumption and carbon emissions. This requires adherence to the operational control approach as defined by the GHG Protocol Corporate Standard, ensuring a precise determination of the organizational boundary. Such rigor guarantees that all relevant emission sources are comprehensively accounted for, providing a foundation of accuracy and reliability in the data submitted.
Mining facilities must commit to a high level of operational transparency, allowing for independent verification of their energy usage and emissions data. This involves the implementation of real-time monitoring systems and the provision of access to relevant data for auditing purposes.
Mining facilities must exhibit a substantial integration of renewable energy sources within their operations; either through the use of behind-the-meter generation or through verified and published grid fuel mix reports. The proportion of renewable energy utilized will directly influence the volume of BECs issued. The higher the percentage of renewable energy in use, the greater the number of BECs a facility can claim.
Facilities must comply with the GHG Protocol Corporate Accounting and Reporting Standard for the quantification and reporting of greenhouse gas emissions. This entails detailed reporting of scope 1 (direct emissions), scope 2 (indirect emissions from purchased electricity), and applicable scope 3 emissions (other indirect emissions). Adherence to these standards ensures emissions reporting is consistent, transparent, and in line with internationally recognized best practices, facilitating an accurate assessment of emissions reductions achieved through the use of renewable energy.
The GHG Protocol Corporate Standard is a globally recognized framework for measuring and managing greenhouse gas emissions from private and public sector operations. The standard outlines the following key components:
Organizational Boundary: Defines the boundaries of the reporting entity, determining which operations are included in the GHG inventory based on either operational control, financial control, or equity share approaches.
Operational Boundary: Establishes which emissions to account for and report, categorizing them into three scopes:
Scope 1: Direct emissions from owned or controlled sources.
Scope 2: Indirect emissions from the generation of purchased electricity, steam, heating, and cooling consumed by the reporting company.
Scope 3: All other indirect emissions that occur in the value chain of the reporting company, including both upstream and downstream emissions.
By adhering to these rigorous eligibility criteria, Bitcoin mining operations can gain certification under the BEC program, thereby showcasing their commitment to environmental responsibility. This not only enhances their attractiveness to investors but also contributes to the broader goal of reducing the carbon footprint of the Bitcoin mining industry. The BEC program, through its stringent standards and comprehensive verification processes, plays a pivotal role in promoting sustainable practices and fostering a greener future for cryptocurrency mining.
