GHG Validation – SMART

Within the TEAM Business Plan and Management Framework, TEAM is committed to reporting on the performance of each project it funds and the impacts these projects have on reducing GHG emissions. To help in meeting this commitment, TEAM developed a method of evaluating GHG emission reductions known as the System of Measurement and Reporting for Technologies (SMART). Up to $40,000 per project is allocated towards applying SMART. Based on a considerable amount of research, consultations, collaborative activities, and testing involving experts from across Canada and around the world, SMART has led to the development of important tools for measuring and reporting GHG reductions.

SMART is a practical, cost-effective method of accurately and transparently evaluating GHG reductions, and the technical performance of TEAM projects. As a result of the strides made through the use of SMART, international bodies recognize TEAM as a leader in the area of GHG standards. TEAM works with several international GHG standards and protocol bodies, including the

• International Organization for Standardization (ISO);
• World Resources Institute;
• World Business Council for Sustainable Development; and
• Institute of Electrical and Electronics Engineers (IEEE).

TEAM is the lead author of the draft ISO International Standard for GHG reduction projects.

Benefits

SMART benefits the companies working on the projects that are supported by TEAM, as well as all of the government programs that support them. SMART helps companies to

• establish credibility;
• gain experience and skill;
• show leadership;
• build competitive advantage;
• maintain constructive government and public relations; and
• develop a network of partners and relationships that facilitate links to technology markets, GHG markets, and government initiatives.

In turn, the federal government benefits from SMART by having confidence and knowledge that the investments it makes in GHG-reducing projects have real world results, are fiscally responsible, build capacity in the private sector, and reduce the risks associated with climate change.