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Accountability & Transparency
Accountability & Transparency

How does Agreena ensure that the programme is accountable and transparent?

Daniel Darcy avatar
Written by Daniel Darcy
Updated over a week ago

Agreena establishes accountability and transparency by using multiple levels of security processes. This is in order to ensure that our certificates will meet the highest standards in the market, while simultaneously being transparent about our processes. The following key points highlight these guarantees:

  • Farms are backed by Tax & Business numbers (VAT).

  • Contracts and emissions are handled on a field-by-field basis.

  • Multiple Independent Auditors.

  • Periodic field inspections.

  • Satellite imagery verification of farm data.

  • Accredited to global tier 1 standards

  • Public certificate ledgers.

  • Secure Ownership and Transferability.

VAT & Field-by-Field Contracts

All farms contracted with Agreena need to list a government-issued tax or business number, typically their VAT number. This protocol aids in ensuring transparency between two accountable and registered businesses, which are both subject to governmental oversight. It also helps verify the identity and location of the farm and its business. Furthermore, it allows for the possibility to track and audit the farms' fields once certificates are issued, as the issued certificates are attached to the exact latitude and longitude of the field they were produced on.

Auditors, Inspections & Satellite Verification

All quantified Greenhouse Gas (GHG) reductions and removals are verified by independent auditors, as well as by Agreena on an annual basis. This is done via external and internal-led on-site field inspections of a portion of total farms every year, which is dependent on the standard requirements of the internal and external auditors. The independent auditors we partner with consist of DNV (Det Norske Veritas), which verifies according to the ISO standard 14064-2, - and Earthood, which verifies according to the Verra standard VM0042 VCS (Verified Carbon Standard). Agreena verifies the fields with periodic on-site inspections, as well as via satellite image using an in-house Data Science team that specialises in Remote Sensing. Once the fields’ reductions and removals have been verified for each and every harvest year, carbon certificates are issued annually.

Public Ledgers, Ownership & Transferability

The issued certificates are owned by the entity which is registered under either a name or business, as the owner in the Agreena Public Ledger in accordance with Agreena's requirements. They are also registered on the Public Ledgers of the independent auditors. This ensures a cohesive truth as to whom the owner is.

Certificates are not to be considered securities or bearer securities. The transfer of certificate ownership is only valid when duly registered in Public Ledgers. The certificates carry a unique electronic identifier in the Public Ledger and once the certificates are retired, they cannot be unretired. It is not allowed to change, amend or adjust, or to attempt to change, amend or adjust issued certificates.

Additionally, Double Issuance, Double Sale, and Double Claiming of certificates are strictly forbidden and Agreena can cancel any issued certificates in the event of fraud or a contract breach.

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