Book-and-Claim System for Circular Economy Certificates
The Circular Economy (CE) operates on a book-and-claim basis, a mechanism that allows corporates and other entities to track, claim, and retire carbon intensity certificates generated from e-waste re-use and refurbishment without requiring direct involvement in the physical process.
How Book-and-Claim Works
Issuance of CE Certificates
- When an e-waste processor completes a certified re-use or recycling process, the carbon savings achieved are quantified by an accredited third-party verifier. Upon verification, the corresponding number of certificates is issued in the Bloom Registry (https://registry.bloom-esg.com/).
- These certificates represent the amount of carbon savings (in CO2 equivalents) derived from the re-use and recycling activities. While their generation is linked to the specific location, organisation and assets processed, once issued they are no longer physically linked to the specific location or organization that processed them.
Book-and-Claim Process
- The carbon savings are “booked” in the registry, providing a transparent and auditable record.
- Companies or organizations that wish to claim these carbon savings can purchase or retire certificates from the registry, depending on their sustainability and carbon reduction goals. By doing so, they may claim the environmental benefits associated with the re-use or recycling of e-waste, without the need to be directly involved in the physical recycling process.
Trading and Transparency
- CE Certificates can be traded on global markets, offering flexibility for companies to reduce the carbon intensity of their IT asset purchases and meet regulatory or voluntary sustainability targets. The book-and-claim system ensures that the same certificate cannot be claimed by more than one party.
- The registry provides full transparency, allowing both the issuer and the claimant to track and verify the lifecycle of each certificate, from issuance to retirement.
Retirement of Certificates
- Once a Certificate is purchased and the associated carbon savings are claimed, the certificate is retired. This means it is no longer available for trade, ensuring that the carbon intensity certificates are accounted for once and only once.
Benefits of Book-and-Claim for Certificates
The CCPs ensure that carbon credit certificates and the underlying projects that generate emissions reductions meet the highest standards of integrity and effectiveness. These principles include:
Flexibility
Companies can easily access carbon savings from e-waste recycling projects globally, without needing to manage the logistics of the recycling process themselves.
Efficiency
The book-and-claim system simplifies the accounting and tracking of certificates, reducing administrative burdens and ensuring that the environmental impact is accurately represented.
Market Participation
Organizations of all sizes can participate in global efforts to reduce carbon emissions, supporting the circular economy by purchasing certificates that directly correspond to the recycling of e-waste.
