A high-integrity approach to crediting for improved emissions performance of the electric power sector.
The Standard for the Transformation of the Electric Power Sector (STEPS) is a first-of-a-kind jurisdictional scale, performance-based carbon standard that details the requirements for countries to measure, monitor, report and verify electric sector-wide emissions performance that exceeds a continuously declining performance target. Download STEPS here.
STEPS establishes requirements for the quantification, monitoring, and reporting of GHG emission reductions; implementation of Environmental and Social Safeguards and Just Energy Transition plans; and the verification, registration, and issuance of STEPS credits. STEPS has been designed to ensure that all STEPS credits issued are real, additional, permanent, free of leakage, verified by an accredited independent third party, and are not double counted. As a result, STEPS credits represent high quality while still allowing flexibility for implementation of sectoral decarbonization plans as nationally appropriate.