Antalya, November 14 (QNA) - The Global Carbon Council (GCC), an independent and internationally recognized carbon standard from the Global South, launched the Energy Access Program Standard in collaboration with the World Bank and the Common Market for Eastern and Southern Africa (COMESA) during the 31st Conference of the Parties (COP31) in Antalya, Türkiye.

Held at the Arab Climate Pavilion, jointly hosted by GCC and the League of Arab States in the COP31 Blue Zone, the launch introduced a digitally enabled carbon crediting framework designed to mobilize high-integrity carbon finance for energy access projects, accelerate investment, and expand access to clean electricity and cooking solutions across Eastern and Southern Africa.

Developed and operated by GCC following its selection by the World Bank, the Energy Access Program Standard and its associated digital platform are intended to support eligible projects under initiatives such as the World Bank's Accelerating Sustainable and Clean Energy Access Transformation (ASCENT) Program. Supporting Mission 300, ASCENT aims to provide electricity access to 100 million people and clean cooking solutions to 20 million people across more than 20 countries in Eastern and Southern Africa.

The standard establishes a carbon crediting pathway for eligible off-grid solar systems, mini-grids, grid extensions and clean cooking projects. Its integration of digital Monitoring, Reporting and Verification (DMRV) is designed to improve the accuracy and transparency of emissions monitoring while reducing the time and costs associated with carbon credit generation.

Conventional carbon crediting processes can involve lengthy monitoring and verification cycles, creating financial and administrative barriers for project developers, particularly those implementing smaller, geographically dispersed activities. The GCC-developed framework addresses these challenges through digital data collection, automated emissions calculations and streamlined processing within the Energy Access Program Portal.

By integrating monitored operational data with carbon accounting requirements, the system seeks to accelerate the transition from verified mitigation outcomes to credit issuance, subject to applicable program requirements and independent verification.

The framework also supports the aggregation of smaller projects, helping improve their access to carbon markets and potential financing opportunities.

Delivering the opening address, Dr. Yousef Alhorr, Founding Chairman of the Global Carbon Council, described the initiative as an important outcome of GCC's collaboration with the World Bank, particularly in advancing digital approaches to carbon crediting.

Speaking on the occasion, Dr. Alhorr said: "Access to carbon finance should not be constrained by processes that take years to deliver results. Our collaboration with the World Bank on the Energy Access Program represents an important shift towards more efficient, digitally enabled carbon crediting. By integrating real-time monitoring with credible verification and accounting systems, we are working to reduce issuance timelines from years to potentially weeks or days, where the necessary requirements are met. This can make a meaningful difference to the financial viability of energy access projects and, ultimately, to the communities that depend on them."

Giovanni Ruta, Global Manager, Climate Analytics, Policy and Regulation at the World Bank Group, welcomed the launch and acknowledged GCC's technical contribution to developing the standard.

According to Ruta, the Energy Access Program Standard offers an opportunity to convert geographically dispersed energy access activities into transparent and verifiable carbon assets. Digital MRV and regional aggregation can strengthen traceability, improve cost efficiency and build the confidence needed to attract private investment.

The World Bank estimates that providing electricity access to 100 million people under ASCENT could require approximately USD 15 billion. While public and multilateral development finance will remain central to achieving this ambition, mobilizing private capital and additional financing mechanisms is essential to expanding access. (QNA)