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Key Principles

WeAct procures carbon credits from third party providers in international carbon markets, ensuring that it has secure access to appropriate volumes of high-quality, high-integrity carbon credits for its global clients. This portfolio of ‘WeTrade’ credits is updated from time to time, and available options are provided upon request (including from specific projects that a client may want to procure units from).

 

Whilst we may procure units from a range of different standards, methods and projects for our clients, WeAct has a responsibility to conduct due diligence in order to mitigate (as far as possible) reputational risks associated with procuring from any specific project. In doing so WeAct takes steps to protect ourselves and our our clients from a range of risks, and through this process we hope to help guide the market towards demanding higher integrity projects and credits.

 

WeAct conducts several screens and a brief desktop technical assessment on projects, however, does not purport to conduct extensive due diligence on our WeTrade portfolio beyond what is available in public documentation.

Giant Anteater foraging

We take a best-practice due diligence approach to sourcing high quality projects from around the world.

Our Approach

WeAct has recently reviewed our market procurement systems and processes which detail to our team what screens, checks, and desktop technical assessments need to be undertaken for a project to pass WeAct’s due diligence.

 

This approach includes collating project-related information from registries and other publicly available sources and assessing this information against the six internal risk screens outlined below. If the project passes all our risk screening thresholds, it is included in our WeTrade portfolio of credits that are offered to clients.

 

 

1. Methodology Application Risk

Our technical team conducts a review of how a project has applied its methodology to ensure appropriate conservative calculations have been applied in line with best practice.

 


 

2. Developer Reputation Risk

Utilising our knowledge gained from decades of operation within carbon markets WeAct uses best judgement to assess the level of embedded risk associated with procuring projects from specific developers and may require our team to conduct additional due diligence on some developers.

 


 

3. Location & Policy Risk

We assess project location and policy landscapes to understand and mitigate any potential reputational risks associated with the project. This may include for example – if it is a renewable energy project, what it may power, or whether there is political instability within the region that might impact continuity or integrity of the project.

 


 

4. Media Scan

We conduct a media scan of available online information to ensure the project or broader works and associations (e.g. programs, landholders, developers), do not face any reputational or other risks that may jeopardise the success or integrity of the project. This may include financial, human rights, method integrity or other publicly released issues or situations that are connected to the project or its stakeholders.

 


 

5. Satellite Imagery & Rainfall Analysis

for Australian nature-based projects only

For Australian Human-Induced Regeneration (HIR) projects we conduct analysis of satellite imagery to understand potential historical land pressures, and, alongside of soil and rainfall data, the ability for the land to sustain forest cover in the long term.

 


 

6. Modern Slavery

Where information is available, we conduct modern slavery checks to mitigate the risk of association with a modern slavery event. This assessment is also informed by where the project is located, its methodology, and its developer.


 

Our Commitment

 

We are committed to ensuring that our screening brings high quality WeTrade projects to the market. We will continue to intermittently test projects against the above screen and project status within our portfolio will be reconsidered if any issues have emerged that might shift project risk profiles above our set thresholds.