Process: carbon accounting
Project proponent hires consultant to do project design document and works out sale of CERs with private parties.
Indian government (national CDM board) clears projects for sustainable development criterion)
Private validators hired by company (11 validators cleared by global CDM board as its designated operational entities). These validators look at report of consultant. Clear project. Take to board.
Global board gives approval based on validators report and registers project.
New auditors appointed by Project proponent to certify the reductions each year…
CERS issued by Board. Exchanged for money.
Deals are private-private. Auditors certify that project is meeting all requirements. Certify that carbon reduction is additional to what would have been without project. Certify that carbon reduction is real.