โ™ป๏ธICR Registration Process

Registration

Projects aimed at mitigating climate change that seeks registration with ICR must adhere to the requirements outlined in the ICR Requirement Document and ICR Process Requirements in addition to ISO 14064-2. The process for registering a climate project with ICR involves the following steps.

Methodology Review

Project developers assess the suitability of available and approved methodologies for quantifying, implementing, and monitoring their projects and sectors. These methodologies can be found in the ICR Approved Methodologies list. If a suitable methodology is not available, project developers can either follow ISO 14064-2 or create a new methodology.

Project Design Description

Using the selected methodology or ISO 14064-2, project developers prepare a Project Design Description that demonstrates compliance with ICR requirements. Templates provided by ICR are used for this purpose.

Pre-Registration

Project developers may apply for pre-registration of their projects in the registry during the design phase or after engaging with an accredited validation body. Before registration, a registry account must be created. Projects that have undergone early registration are listed as "in development" or "under validation" in the registry.

Project Validation

Project developers must engage an accredited validation body to validate that their projects conform to ICR requirements and ISO 14064-2. The validation report must be uploaded to the registry.

Project Registration

Upon successful validation of the Project Design Description, the project's status can be updated to "validated" ICR reviews the project to ensure that all necessary documents are complete and signed, and that the project has been validated and/or verified by a competent VVB, and has not been subject to mitigations under another GHG program, etc.

Issuance of ICCs

ICR recognizes the importance of funding projects to minimize costs, improve access to funding, and facilitate the scaling of climate actions. To support these goals, project proponents may issue ICCs after validation and prior to verification (with limitation). This allows for quicker funding, scaling, and increased visibility and credibility for their projects. Note that ICCs issued Ex-ante are based on estimated mitigation outcomes and cannot be retired until verified and become Ex-post ICCs.

Ex-ante Issuance (Forwards)

Issuance allows for the release of up to 50% of estimated mitigation outcomes for the crediting period. The pre-verification issuance cannot exceed 50% of the total estimated volume in the Project Design Description. ICCs that have not been verified for actual mitigation outcomes are inactive and cannot be used for offsetting until activated.

Ex-post Issuance

Post-verification issuance of ICCs allows for full issuance and activation of ICCs concurrent with verification.

Project Implementation

Project developers implement/operate their projects according to the Project Design Description, and the operational phase begins.

Project Monitoring

The effects of project activities on relevant emissions sources, sinks, and reservoirs must be monitored to determine the net GHG impacts represented by a carbon credit. Monitoring and calculation of mitigation outcomes are performed in accordance with the monitoring plan, and produce a monitoring report using applicable templates and upload monitoring data to the registry on a periodic basis.

Verification of Mitigation Outcomes

All mitigation outcomes stated in the monitoring report must be verified by an accredited verification body.

ICC Activation

For each monitoring period or when the project developer requests issuance (or activation) of ICCs, the monitoring report needs to be uploaded to the registry along with verification report confirming the impacts. Based on the results of the verification, corresponding number of ICCs (or the remaining ICCs not issued as ex-ante) may be issued. If the mitigation outcomes differ from the original estimates in the Project Design Description, the ICCs are issued accordingly.

End of Crediting Period

At the end of the crediting period, the project developer may apply for continued crediting, provided that the project still meets the then-current ICR requirements.

Last updated