Author: Rüdiger Meyer
The voluntary carbon market needs more than just good intentions. It needs structures that provide buyers with genuine certainty. This is precisely where traditional off-take forward contracts and the ex-ante approach under the eva Wald Climate Standard differ fundamentally.
The problem: An offtake is a promise—not ownership
In conventional forward contracts, a company commits today to purchasing future certificates. The certificates do not yet exist. They remain with the project operator until they are verified and delivered.
This means:
- A Claim Under Contract Law Instead of Ownership
- Full delivery risk in the event of underperformance or insolvency
- Accounting as a Derivative with P&L Volatility
- No Insolvency Protection Against the Project Operator
For companies with financial reporting responsibilities, this is a risky arrangement.
The Ex-Ante Approach: Young Wine in Your Own Cellar
You buy the wine young—and let it age in your own cellar. It’s already yours.
That’s exactly how ex-ante works at eva.
After planting and certification, the ex-ante certificates are immediately transferred to the buyer’s registry account. They mature there as the forest grows—and become ex-post certificates while already being owned by the buyer.
The Benefits at a Glance
- A transferred, insolvency-proof registry entry effective from Day 1, rather than a mere contractual right to delivery
- Buffer Pool Protection (15% across all projects) instead of Delivery Risk
- Recognition as an intangible asset under IAS 38 rather than as a derivative
- The forest owner's insolvency does not affect the title to the transferred certificate
- EmpCo-compliant communication as early as Phase 1
- Each ex-ante certificate receives its own vintage*
| PHASE 1 · EX-ANTE | PHASE 2 · EX-POST | |
| Time | Immediately after purchase and transfer to the registry | After verifying the resulting climate impact |
| Certificate Status | Transferred—belongs to the buyer, still maturing | Verified – can be retired (permanently decommissioned in the registry) |
| Key Message According to EmpCo | "We are helping to fund an ongoing reforestation project…" | "We have achieved a verified reduction of X metric tons of CO₂…" |
| Communication Logic | Focus on the process: financial commitment and project support, active contribution to climate protection | Focus on Results: Demonstrating Climate Protection Achievements |
*(defined date for conversion to ex-post, secured by a 15% buffer)
EmpCo: Why Ex-Ante Is Also Superior in Terms of Communication
Starting in September 2026, EmpCo will ban product-related neutrality claims such as “climate neutral.”
Contribution claims—transparent statements of contribution—are permitted.
Ex-ante does exactly that:
“By purchasing ex-ante certificates certified under the eva Forest Climate Standard, we are helping to finance a forest climate protection project …”
This is specific, verifiable, and compliant with EmpCo.
Only after verification does Phase 2 begin: the assessment of the actual climate impact achieved.
Why this is strategically important for buyers. Ex-ante solves two problems at once:
- Accounting: no derivatives, no volatility, clear asset framework
- Communication: Immediate, transparent claims regarding contributions without the risk of greenwashing
Furthermore, demand for nature-based ex-post credits exceeds supply—both today and in the coming years. Ex-ante credits offer most of the benefits of ex-post credits, but are available, predictable, and can be utilized early on for communication purposes.
If you're looking for nature-based ex-post certificates, you should be familiar with ex-ante. For a secure structure—and a credible story.
