What is Performance Measurement and Verification?
Confirmation of the performance of innovative solutions, technologies, products, and practices by qualified third parties based on independent data:
- Supports the advancement of innovative solutions that address social, economic and environmental priorities
- Provides reliable data to support performance-based regulations and informed procurement across global supply chains
- Targets key sectors, such as energy, water, agriculture, transportation, buildings, infrastructure, etc.
- Emphasizes incremental value, beyond "business as usual"
Why Performance Measurement and Verification?
Sustainable development:
- Priority for government, business, industry, communities, and individuals
- Adoption and use of innovative, eco-efficient solutions supports sustainable development
Performance verification of innovative solutions demonstrates the value
- Helps technology developers and solution providers convince investors and customers
- Helps solution adopters and regulatory authorities justify decisions
- Opens door to market adoption of eco-efficient solutions
How Performance Measurement and Verification functions?
Supply-side approach
- Solution provider (vendor, proponent) puts forward a performance claim supported by quality-assured data from an independent source
- Verification is driven by the priorities of the solution provider
Demand-side approach
- Stakeholders (users, buyers, regulators, others) determine key parameters prior to the submission of performance data
- Verification based on market requirements and expectations of affected stakeholders
Performance Measurement and Verification benefits
- Effective in understanding and evaluating proposed solutions and potential outcomes that have features and characteristics not fully addressed by existing standards
- Provides proof of environmental performance in the context of the increasing number of international free trade agreements
- Assists in addressing complex challenges where commitment to a proposed solution may involve tradeoffs about expected results and whether or not the proposed solution will result in substantial improvements
- Facilitates informed decision-making through meaningful dialogue on complex, transformative issues.