Supplier Verification
Suppliers who want to receive COCs under the Titan Traders Standard must undergo a thorough verification process by independent, accredited third-party Validation and Verification Bodies. This process ensures that their products are truly carbon net-negative.
In the Spring of 2023, Titan Traders LLC changed its policies and procedures to align with the requirements of the Integrity Council for the Voluntary Carbon Market's Assessment Framework.
Please check out our library of policy documents here to learn more about the strict requirements for Validation and Verification Bodies and other important updates regarding the IC-VCM Assessment Framework and Core Carbon Principles.
What is the verification process?
1. The supplier has provided concrete evidence, including a Lifecycle Assessment (LCA) or an Environmental Product Declaration (EPD), to substantiate their assertion that their products have a net-negative environmental impact. This proof demonstrates that the product has absorbed more CO2 than it has released.
2. Titan Traders LLC employs independent assessors who are highly trained to visit production facilities and ensure the accuracy of all data. Through the issuance of audit statements, these assessors validate compliance with the rigorous Titan Standard methodology requirements, which are audited based on the evidence provided. To ensure complete accuracy and transparency, Titan Traders LLC takes care of all verification costs.
3. Once the amount of excess carbon that has been absorbed in the products is verified, CO2 Removal Certificates (CORCs) are issued for every metric ton of CO2 that has been removed and stored.
4. Suppliers are able to sell their CORCs in a multitude of locations, including marketplaces, brokers, or directly to companies seeking to offset their emissions and attain climate positivity through removals.