ICR Process Requirements v6.0
Last updated
Last updated
Summary
ICR serves as a framework for climate projects of any size, promoting environmental integrity through accelerating credible action and ensuring credibility, consistency, and transparency in quantification, monitoring, reporting, validation, and verification
This document specifies processes and procedures for registration of projects under the ICR program. The project cycle, issuance, transfers, retirements and cancellations of ICCs. It further specifies criteria for transfers of projects from other GHG programs, withdrawals from the ICR program. In addition, it specifies any assessment of projects, GHG emission mitigations adherence to the ICR program principles. Other issues addressed are stakeholders’ engagement, sharing information and exemption requests.
ICR definitions
ICR requirement document
ICR approved methodologies and tools
ISO 14064-2, Greenhouse gases — Part 2: Specification with guidance at the project level for quantification, monitoring and reporting of greenhouse gas emission reductions or removal enhancements.
ISO 14064-3, Greenhouse gases — Part 3: Specification with guidance for the verification and validation of greenhouse gas statements
ISO 14065, General principles and requirements for bodies validating and verifying environmental information
ISO 14066, Greenhouse gases — Competence requirements for greenhouse gas validation teams and verification teams
For the purposes of this document, the terms and definitions given in the ICR definitions apply in addition definitions and acronyms from ISO 14064-2 and ISO 14064-3 apply. If there exists inconsistency in definitions, ICR definitions prevail.
The principles of the ICR program are adapted from WBCSD/WRI, CDM, and ISO 14064-2, ISO 14064-3 and ISO 14065. All climate projects shall strive to follow these principles, and methodology development shall adopt these as fundamental principles. Applying the principles is crucial to safeguarding GHG-related information and impact as a true and fair account. The principles are the basis for and will guide the application of the requirements in the ISO 14064-2, ISO 14064-3 and of this document resulting in impactful climate projects and solutions.
Relevance - Use data, methods, criteria, and assumptions that are appropriate for the intended use of reported information.
Completeness - Consider all relevant information that may affect the accounting and quantification of GHG emission mitigations.
Consistency - Enable meaningful comparisons in GHG-related information.
Accuracy - Reduce bias and uncertainties as far as is practical/cost-effective.
Transparency - Provide clear and sufficient information for reviewers to assess the credibility and reliability of GHG emission mitigations claims.
Conservativeness - Use conservative assumptions, values, and procedures to ensure that GHG emission mitigations are not over-estimated.
Impartiality – Impartial validation and verification of GHG emission mitigations by a competent accredited 3rd party organization.
ICR sets further out requirements consistent with the CDM and other GHG programs facilitating registration of climate projects and issuances of carbon credits that can be traded and used by organizations to contribute to climate actions, to compensating for, and offsetting GHG emissions.
The International Carbon Registry (ICR) is a GHG program and a comprehensive registry platform that adheres to the principles and goals of the Paris Agreement and the ISO 14064 series of standards, providing a robust framework for managing and validating and verifying climate projects and impacts. The ICR program is operated and managed by International Carbon Registry ehf. ICR offers a user-friendly registry platform for project proponents to manage the entire lifecycle of climate projects, including tracking carbon credit inventories, facilitating market reach, and managing carbon credit portfolios by organizations.
This document summarizes the ICR processes, i.e., for
pre-registration of projects,
registering projects,
issuing ICCs,
conversion of ex-ante ICCs to ex-post ICCs,
transferring and retiring/cancelling ex-post ICCs or other environmental instruments according to the ICR requirement document or other scheme requirements,
Transition from other GHG programs,
Withdrawals from the ICR program,
Assessment of conformity to ICR program requirements, and
Other relevant processes and procedures relating to the ICR program.
This document intends to serve project proponents, project developers, companies, market participants, validation and verification bodies (VVBs), and other entities participating in the VCMs. Still, the focus is on project proponents registering their climate projects, issuing carbon credits, interacting with VVBs and ICR. The ICR requirement document, ISO 14064-2, and related documents provide rules and requirements for climate projects to be eligible for registration. This document, ICR process requirements, complements the ICR requirement document and other normative references. Further, the ICR registry user guide provides guidance for users and organizations in familiarizing themselves with the ICR registry platform.
Projects may have one or more project proponents and may be supported by project developers and have more partners. For readability, this document uses project proponent in the singular tense, and project developer and proponents are not distinct unless specifically addressed.
The project proponent interacts with ICR when they have project concepts, pre-register projects under development, when undergoing validation, finalizing registering projects post validation, during issuance of ex-ante or ex-post ICCs, and conversion of ex-ante ICCs post verification of GHG emission mitigations.
All supporting documentation shall be uploaded to the ICR registry by the project proponent, its authorized representative, and the VVB for any documentation relating to validation and verification.
Validation and verification bodies (VVBs) are responsible for validating climate projects and verifying their GHG emission mitigations.
ICR is responsible for managing the ICR program, conducting completeness review, administering registration, issuance, conversion of ex-ante ICCs to ex-post ICCs, and other aspects of administering the ICR program and registry as further outlined in the ICR terms and conditions, in ICR terms and conditions for projects, and the ICR registry user guide.
The ICR registry platform provides a central source for all information and documentation relating to projects registered or pre-registered under the ICR program. The ICR registry platform also provides assurance of the uniqueness of projects and their GHG emission mitigations, and issuance of serialized ICCs, and tracking of transfers, retirements, and cancellations. ICR makes information and documentation of projects publicly available. Some information may not be publicly disclosed when information is subject to confidentiality and/or intellectual property rights. All documentation is, however, available for VVBs and the ICR. ICR is responsible for reviewing project documentation and overseeing VVBs accreditation to ensure the integrity of projects and ICCs within the registry platform.
The ICR process requirements is updated periodically, and project proponents or other stakeholders shall ensure that they are using the most current version of this document or other documentation issued by the ICR.
Increasing transparency in VCMs is pivotal for fostering trust and ensuring the effectiveness of climate projects and trust from their supporters. To achieve this, it's essential to implement standardized reporting, third-party validation and verification, public disclosure, clear framework, price transparency, oversight, and global alignment of transparency standards.
Clear reporting: Clear and standardized reporting requirements for climate projects.
Third-party validation/verification: Third-party verification of project GHG statement, ensuring impartial assessment by a competent and accredited VVB.
Public disclosure: Public access to relevant project information, including project documentation, monitoring data, and validation/verification results.
Standardization: Adherence to standardized rules and requirements governing climate projects, ensuring consistency and integrity.
Additionality transparency: Make details on the significance of support projects needs to scale, facilitating fair market pricing and accuracy in reflecting climate impact.
Oversight: Oversight to ensure compliance with relevant laws and regulations.
Global alignment: Harmonize transparency standards, i.e., CDM, at a global level, aligning with the Paris Agreement and frameworks under article 6 of the Paris Agreement and ISO standards.
In addition, the presentation of information in an understandable and user friendly format.
Enhancing traceability in VCMs by replacing outdated technology with modern solutions, particularly by leveraging blockchain as a native database and tokenizing carbon credits, is pivotal in scaling climate action. The phased transition to new technology ensures that carbon credits and climate projects can be accurately tracked, preventing double counting and fostering trust and transparency.
Blockchain's role as a native database is crucial because it provides immutable and transparent ledgers, making data tamper-proof and accessible to all stakeholders. This enhanced traceability, facilitated by blockchain and tokenization, builds confidence, attracts more participants, increases investments, and accelerates climate action. It ensures that the market operates efficiently and with integrity, ultimately driving the transition to a more sustainable, low-carbon future.
ICR relies on native issuance of carbon credits (tokens) on the Polygon blockchain, which is a public blockchain. As such all transactions can be audited by the public.
Figure 1: Comparison of business-as-usual credit issuance and tokenization utilizing public blockchain.
The ICR registry platform leverages blockchain technology to issue carbon credits and transactions with carbon credits. The blockchain-backed nature of the ICR registry platform permits live inventory management and dissemination to marketplaces and end users of tools, enhancing transparency and favouring all stakeholders involved. Utilizing blockchain technology, numerous difficulties confronted by VCMs are tackled right from the beginning as it provides for the traceability of credits in a manner that is auditable by any stakeholder.
Thus, the blockchain functions as a public record, maintaining a permanent and unalterable log where sellers, buyers, and other stakeholders can inspect and authenticate, thereby eliminating the possibility of duplication and fraudulent activities.
Tokenization is the process of converting rights to an asset into a digital token on a blockchain.
Centralized Control: Without blockchain, tokenization would need a centralized authority or database to keep track of ownership and transactions. Limited Trust and Security: The central system could be susceptible to manipulation, errors, or hacking. Lower Liquidity: Traditional systems may not support fractional ownership to the same extent as blockchain, making some assets less liquid. Opacity: Transactions may not be as transparent or easily verifiable by all parties involved. Limited Interoperability: Tokens might be confined to specific platforms or systems and may not be easily transferable.
Security and Trust: The blockchain ensures the tokens are secure and the ownership records are tamper-proof. Decentralization: The information is not stored in a centralized server, making it resistant to hacking or manipulation. Liquidity: Tokenization on blockchain allows fractional ownership, improving the liquidity of assets. Transparency: Every transaction is recorded on the public ledger, ensuring transparency. Interoperability: Tokens can be easily exchanged and used across different applications and platforms. Smart Contracts: Automate processes like dividend payments or voting rights.
Tokenization with blockchain provides more security, transparency, and liquidity compared to traditional tokenization/crediting methods.
All credits/tokens issued on the ICR registry platform are tokenized on the public blockchain Polygon POS, more info on polygon found at https://polygon.technology/. Polygon POS is an Ethereum sidechain.
Further documentation on blockchain applications can be reviewed in the ICR documentation.
ICR's registry platform is electronic and can be accessed through all internet-connected computers, tablets, or mobile devices at www.app.carbonregistry.com. ICR's registry platform Carbonregistry.com is developed by Mojoflower ehf. (Mojoflower) www.mojoflower.io. Mojoflower and ICR are fully owned by Gaia Group ehf.
Figure 1: Organizational structure of Gaia Group ehf.
The registry has user accounts and organizational accounts. Projects belong to organizational accounts, but ICCs may belong to users or organizations. Users make all actions and transactions on behalf of organizations based on their administrative privileges.
Figure 2: Create an account
User accounts are created from app.carbonregistry.com and organizational accounts are created by users within the registry platform.
Figure 3: Accounts relationship.
To effectively prevent double counting in all its forms, it is essential to have a robust and transparent registry platform, which includes a publicly accessible, transparent, and easily searchable project, credit and transaction database. The platform needs to provide all relevant information necessary to avoid double counting and build trust by interested parties.
A registry and its infrastructure need to facilitate project registration by assigning a unique identifier to each project. This identifier should be cross-referenced with carbon credits issued in the program's carbon credit registry, ensuring that project information can be tracked for every carbon credit issued.
ICR’s registry platform meets these requirements, offering the functionality and transparency needed to prevent double counting.
Securely and transparently managing the issuance, transfer of ex-ante and ex-post ICCs and retirement, and cancellation of ex-post ICCs.
Serialization and tagging of issuances to ensure each ICC is clearly linked to a specific project, country, issuance block, and vintage, thereby facilitating the assignment of information necessary to avoid double counting.
Implementing retirement and cancellation procedures that clearly indicate the removal of units, ensuring the process is irreversible and unambiguously designated for a specific purpose. For retirements under CORSIA, information includes the aeroplane operator for whom the ICCs were retired and the calendar year in which the underlying requirements are fulfilled through the retirement.
Providing public, downloadable, and sortable reports on all ICCs, including project details, issuances, retirements, and cancellations, with the following project information:
A description of the project, including details on the GHG emission mitigations technologies used.
The GHG emission SSRs, as well as the GHGs considered in calculating the project’s GHG emission mitigations.
The host country and geographical location where the project is implemented.
The project proponent.
The year(s) in which the GHG emission mitigations occurred (vintage).
Any additional information required to unambiguously identify the project and distinguish it from other projects in the same location.
indication of whether the project’s activities and GHG emission mitigations are covered by the host country’s NDC targets (sector and target years) for post-2020 credits.
A letter of attestation and authorization from the host country, which is publicly available on the registry once obtained and submitted to the ICR.
Designation of the credits as eligible as Article 6.2 ICCs once the host country letter of authorization is obtained.
Notice that the host country has applied a corresponding adjustment, once evidence is obtained.
Further information about the functionality of the ICR registry is available in the ICR registry user guide found on the ICR documentation site.
To benefit from using the ICR program, an ICR registry account needs to be opened to pre-register, register, issue, trade, or retire ICCs. The ICR registry is administered by ICR and maintained by Mojoflower.
Everyone can join the ICR registry. Individuals can establish a user account from the ICR registry platform by providing the necessary information.
Figure 4: Create a user account
For users to be able to perform specific actions, they need to be verified, i.e., complete the Know your Customer (KYC) checks ("verified users"). The KYC check is completed within the registry platform.
Figure 5: KYC
For organizations to participate in the ICR program as a project proponent, project developer, market participant, general organization or other stakeholder for issuing, transferring, trading, or retiring ICCs or providing services for proponents or stakeholders, they need to establish a registry account with ICR. Users can create a registry account for organizations, i.e., project proponent, developer, market participants, etc, from their user account[1].
Figure 6: Create organizational account
The account opening is completed via the ICRs platform by a user who has the authority to represent the organization (Authorized representative). Organizations that want to have a public profile or intend to participate as a project proponent, project developer, VVBs, market participant or other need to complete a Know Your Business (KYB), and the user creating the organizational account shall be a verified user. Note: Different fees are applicable for organizations based on the type of organizations and their verification.
Figure 7: KYB
Organizations (project proponents or project developers) who want to register climate projects and issue ICCs shall have a verified account with ICR before any documentation review can proceed and listed publicly. For further information on the criteria for registration, refer to the ICR requirement document.
A proponent intending to submit a project to ICR needs to open an account by a user with the authority to represent the organization through the ICR registry platform and register as a project proponent or a project developer.
Other organizations may open registry accounts as applicable for their use[2]. User permissions are limited to the purpose of use, and some are subject to special agreements with ICR, e.g., market participants, insurance companies, rating agencies and VVBs.
Market participants who want to act as custodians of ICCs for users or trade or retire ICCs on behalf of organizations shall establish a market participant account with ICR and sign a market participant agreement with ICR.
Insurance companies need to adhere to ICRs insurance eligibility criteria.
VVBs need to establish an account with ICR. When an agreement has been signed with ICR, the VVB is explicitly identified in the registry. Only VVBs with an agreement for conducting validation and verification with ICR program are identified as approved VVB.
Organizations holding ICCs need to have an account with ICR if they intend to retire or hold carbon credits for use later and publicly disclose their aggregated holdings of ICCs and retirements.
All applicants for organizational account opening ne sign terms and conditions for organizations and are subject to Know Your Business (KYB) check with ICR for them to be verified ("verified organization"). Only verified organizations may have a public profile.
ICR will inform the organization of the review of the KYB and accompanying documentation. If further documentation is needed, ICR will inform the organization.
When all applicable fees have been paid, the account is verified, and the verified organization may perform its actions with the ICR registry platform.
Authorized representatives of organizations can invite individuals to join the organizational account and become members of the organizational account by adding them to the account. The invitation is delivered by email[3]. The users may be subject to KYC upon request. Users identified as members in organizational accounts have different roles, administrative rights (admin), content editing rights (editor users), viewing (partner) or an assessor (auditor). All user invitations to the organization's account and their roles are the organization's and authorized representatives' responsibility. At all times, at least one member needs to be an admin.
Detailed information on the ICR registry platform, including step-by-step instructions for creating accounts, entering information, issuing, transferring, and retiring instruments, can be found in the ICR user guide.
Note that some organizations may publicly or privately disclose ICC inventory ownership. Private disclosure is only allowed for certain account types. Proponents and developers shall always have information about their inventory public.
Project registration involves the formal process of submitting a PDD or PDDMR to ICR and to an approved VVB for assessment, providing detailed information about the project's objectives, procedures, and expected (and monitored) GHG emission mitigations. The registration ensures transparency, accountability, and credibility in projects, allowing them to issue ICCs that may be traded and used to compensate for GHG emissions or contribute towards reducing or removing atmospheric GHG emissions by organizations or individuals. The timing of project registration may be independent of its start date. In other words, projects may be submitted after they begin operation (subject to eligibility) or before they begin operation. However, the steps outlined in this section shall be followed.
The lifecycle of a project may generally be described according to the following diagram.
Figure 8: Project cycle
Projects have different status based on their project cycle. The status of a project may be:
Concept (concept, section 7.2)
Under development (pre-registration, section 7.3)
Under validation (pre-registration, section 7.3)
Validated (registered, section 7.5)
Closed (crediting period finished, section 7.8)
Retracted (section 7.3.1)
Withdrawn (section 11)
The status represents the stage in the project cycle it is in.
A methodology refers to a systematic approach or set of procedures used to quantify and measure GHG emission mitigations. These methodologies provide a standardized framework for estimating, monitoring, and verifying emission mitigations, allowing for consistent and comparable results across different projects applying the methodology. These methodologies typically establish criteria and prescribe procedures for projects to follow for data collection, quantification, monitoring, and reporting GHG emission mitigations for projects ex-ante and ex-post and serve as good practice guidance.
Project proponents developing a climate project should review approved methodologies under ICR for their applicability and follow them where possible.
Figure 9: Methodologies
The ICR has approved methodologies listed in ICR approved methodologies and available on the ICR documentation page.
When an approved methodologies do not cover the project activities, the project proponent may develop a project by establishing methodological criteria and procedures following to the requirements of ISO 14064-2 and the ICR requirement document, e.g. establishing criteria and procedures for:
Boundary
Baseline
Additionality
Quantification
Monitoring
When establishing methodological criteria and procedures, ISO 14064-2 states in section 6.1 that project proponents shall identify, consider, and use all relevant criteria and procedures for every stage of the GHG project cycle where these are available. Here, consideration of section 0.3 in ISO 14064-2 is relevant.
If criteria and procedures are not available, the project proponent shall use relevant current good practice guidance. The project proponent shall select and apply established criteria and procedures from a recognized origin if available. Often, methodologies developed under GHG programs are considered a recognized origin.
If the project proponent intends to develop a new methodology, please refer to the ICR methodology approval process.
All documentation, irrespective of the origin of methodology, criteria, and procedures, shall use available ICR templates and follow any instructions outlined. Note, however, section 10.
Copyright of methodologies developed by entities other than ICR, following the ICR methodology approval process are theirs, not ICR's. Methodologies developed by ICR are the copyright of ICR.
Methodologies not developed by ICR or methodology developers developing methodologies under the ICR, may be subject to copyright. Methodologies, however, contain standardized processes for, e.g., measuring and verifying GHG emission reductions or removals associated with a project or activity. They outline systematic approach for establishing criteria and procedures, e.g. for baseline, boundary, monitoring, and quantifying the amount of GHGs that are reduced, avoided, reduced, destroyed or removed from the atmosphere due to the project implementation compared to the baseline scenario.
Copyright law protects original works of authorship fixed in a tangible medium of expression, like a published methodology. However, it does not protect ideas, procedures, methods, or systems, even if they are included a methodology. Therefore, applying or referencing processes, methods, and procedures in a methodology typically does not violate its copyright (if it exists).
Processes, methods, or procedures may be eligible for protection under different forms of intellectual property, including patents. Nevertheless, the ICR does not have any records of GHG programs or methodologies developed under GHG programs being protected under patent law. Should a methodology's processes be patented, the methodology documentation should explicitly mention this information and any application of such methodology shall disclose such intellectual property rights.
ICR, however, respects the associated cost of developing methodologies. Where a methodology has been developed partially or entirely by third parties (other than a GHG program) approved and published by other GHG programs and is applied in all significant aspects, as a good practice guidance, to demonstrate conformity to ISO 14064-2 and ICR requirements, the methodology developer(s) may be eligible to receive royalties from project proponents applying the methodology for developing and registering projects under the ICR program.
Where ICR deems a methodology has been applied, developers may apply for entitlement of royalties according to the ICR fee schedule as a compensation for their contribution. ICR determines eligibility on a case-by-case basis. Methodology fees are collectible for 12 months from first transfers of ICCs applying the respective methodology. If not collected, ICR will deposit the methodology fee to amethodology development fund.
ICR acknowledges and makes explicit the copyrights of approved methodologies (or other methodologies). ICR respects and preserves the existing trademarks and logos in the published materials (methodologies from other GHG programs).
A project concept refers to the basic outline and description of an initiative to reduce, avoid or destroy GHG emissions or sequester carbon dioxide from the atmosphere. Project proponents may submit a project concept in the ICR registry where they have not completed the project documentation according to the ICR requirement document and procedures.
For stakeholders, viewing project concepts, they should be aware that there's no certainty that the project will be implemented or issue ICCs in the future. Projects listed as a "Project concept" are not considered pre-registered or registered.
Information needed to be eligible for listing a project concept is submitting a project concept description. If the project proponent intends to develop a methodology, he may submit a methodology concept note (see ICR methodology requirements and ICR methodology approval process).
Information to complete in the registry platform for project concept:
Descriptive project name
Short descriptive summary of project activities
Website
Estimated start date
Sector
Estimation of additionality levels
Other SDGs
Project type
Location of the project
Documentation:
A project concept note
A methodology concept note (optional)
Projects may be listed as a project concept for up to 6 months. If the project concept status has not been updated to "under development" and has been pre-registered after six months, the concept listing will be redacted from the public registry.
After the project proponent has submitted the project concept for review, ICR shall respond within two weeks from submission of the project concept.
When ICR has no further observations of the information provided or the documentation, ICR approves the project concept 2 week after the proponent has responded to findings raised by ICR.
Where a project requesting a listing of a project concept has not followed the instructions, suspects that the information and documentation submitted are false or misleading or ICR consider is spam, ICR reserves the right to reject the listing request without providing any findings to the proponent.
Figure 10: Project concept listing
The ICR registry features a project pipeline that showcases projects before their official registration. Projects can be pre-registered during initial development stages, identified as "under development," or "under validation" when prepared to initiate the validation process.
Project proponents applying for pre-registration in the ICR registry can do so at any time before or during the implementation of the actual project and its implementation. Pre-registration may be to showcase projects in implementation for potential off-takers or investors or to increase awareness of prominent climate actions being developed. Pre-registration of a project does not constitute a validation or approval by the ICR of the project or its eligibility for final registration. Pre-registration solely constitutes is a preliminary review by ICR of project information provided by the proponent to the ICR. It is not a final determination of the project's eligibility or validation, nor does it guarantee the issuance of ICCs.
When validating or verifying the project activities, the VVB shall check the project's status in the ICR registry. If the project has not been pre-registered with the ICR, the VVB shall advise the proponent to do so. When the VVB has been contracted for validation/verification, he shall be identified as the VVB for the project along with the criteria for validation/verification. The validation/verification team shall have access to all documentation submitted to the ICR and shall be added as an auditor of the project on the ICR registry. See further in the ICR validation and verification specifications.
Figure 12: Pre-registration
When the project proponent has completed a draft PDD, an admin initiates registration of a new project from the ICR registry platform's organizational account. An editor user can modify information. See the ICR user guide for details of pre-registration items.
The project proponent appoints an individual(s) or an entity responsible for communication with ICR throughout the crediting period of the project activities depicted in the PDD as an "Authorized representative." The appointment is done in a representation deed[4], only users identified as authorized representatives shall be added as an admin for the project. Others shall be editor users or viewers, (or auditors).
If the individual is not already holding a user ID, the organization provides the individual authorization to be associated with the project with a user ID with admin rights for the project during the completion of the registration form. See details in the ICR user guide.
The admin can invite other users to edit and modify information about the project. They are added as editor users to the project.
Note: editor users may edit information about the project, upload documentation, and share insights, but admins are also permitted to submit projects for review by the ICR and request issuances.
Figure 11: Pre-registration process under development
Projects eligible for pre-registration shall submit the following documentation and approve terms and conditions applicable for projects in the registry platform ("project agreement"):
Proof of ownership (private document)
A draft PDD (or PDDMR) with the following sections completed[5] (public/private document):
1.1 - 1.17
2.1 – 2.4
4.1 – 4.4 (if applicable)
A draft ICR environmental and socio-economic safeguards.
Representation deed (private document)
All documents regarding the project shall be submitted in electronic format.
The project proponent uploads all relevant documents to the ICR registry. The project proponent shall use information from the project documents to complete the registration form in the ICR registry. All documents uploaded should be posted publicly, except for commercially sensitive information and proof of contracting.
When the registration form has been completed and all documentation uploaded, the admin submits the project for pre-registration in the ICR registry platform as "under development", for review.
The project proponent pays all relevant outstanding fees according to applicable terms and conditions and the fee schedule.
When fees have been received, ICR reviews submitted documents and information provided in the registry platform for completion and consistency.
If the submitted documentation are insufficient, the proponent is informed of corrections/improvements needed.
The project status is confirmed by ICR as "under development" subject to review of the documentation and confirmation by ICR.
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All submitted documents and records are kept for at least seven years after the last retirement of the instrument issued and activated resulting from the project activities. If the project that has been pre-registered fails to complete registration (retracted) and no ICCs are issued, documents and records are kept for at least seven years.
All information about a project that is registered on-chain can't be removed[6].
If a project has been pre-registered and does not complete validation within 12 months. from initial pre-registration, the project is identified as "Inactive." Subject to objective evidence of ongoing implementation, the status is updated or reverted. Pre-registered projects shall complete validation and registration within 24 months from initial pre-registration date. If projects do not complete validation and registration within 24 months, they're retracted from the ICR registry.
If ICR suspects that information and documentation submitted are false or misleading, ICR reserves all rights to retract the project and disclose the occasion.
When the project has been pre-registered on the ICR registry and relevant documentation made available on the ICR registry platform, stakeholders may comment on the project and its public documentation. Comments on the project activities shall be submitted to admin@carbonregistry.com with information, e.g. name, organization, address, and email address of the disclosing party. Comments received are shared with the project proponent and the VVB for consideration.
Where the project requesting pre-registration has not followed the instructions and ICR believes it is spam, ICR reserves the right to reject the pre-registration request without providing any findings to the proponent.
When ICR determines that the project does not meet eligibility criteria of the ICR program, ICR will reject the pre-registration request.
After the proponent has requested a review by the ICR for pre-registration and all fees paid, the ICR shall respond with findings within two weeks. When the proponent has resolved all outstanding issues raised by ICR, ICR shall complete the pre-registration within one week.
When a project has not updated the status to “under validation” within 12 months, the project is identified as inactive.
Figure 2: Pre-registration process under validation
For projects initially pre-registered as under development, the status shall be updated to "under validation" before the validation starts, providing all necessary documentation listed for projects "under validation" and selecting the VVB contracted to conduct the validation (and verification) and the criteria, from the registry platform. The proponent shall further add the validation team members as auditor users of the project.
To update the registration of the project as "under validation," the following documentation shall be submitted or updated as relevant:
Proof of ownership (private document)
Completed PDD (or PDDMR) with all sections completed (public document)
ICR environmental and socio-economic safeguards template (public document)
Proof of contracting a VVB, proof of contracting can be in the form of a legal agreement, letter of intent/memorandum of understanding (private document)
Validation plan (or validation and verification plan for PDDMR)
Representation deed (private document)
The proponent shall further update all information about the project on the registry and maintain consistency in information provided in the project documentation and on the registry. The proponent shall identify the relevant criteria for validation and verification in the registry platform. See the ICR user guide.
The difference between under development and under validation represents the status of implementation and the contractual relationship with a VVB and ongoing validation or validation and verification. Those under validation are projects that have completed the PDD or PDDMR and contracted a VVB for validation (and verification for joint validation and verification engagements), while projects "under development" have not.
When a project has not updated the status to “validated” within 12 months, the project is identified as inactive.
Before a project may be registered, it needs to be validated by an approved VVB. A list of approved VVBs may be found on ICR's website and the registry platform. All documentation uploaded to the registry shall be accessible for the VVB to conduct its assessment.
Figure 13: Validation and registration process
When projects have been pre-registered, and the PDD (or PDDMR) has been completed, projects can undergo validation[7].
Before initiating the validation, the PDD (or PDDMR) shall be completed and submitted to ICR as it is submitted to the VVB for assessment (same version).
The project proponent shall use all applicable templates from ICR for the documentation and follow all outlined instructions.
If the project includes other environmental or social benefits subject to validation, the proponent shall inform the VVB and add it as criteria for validation, and necessary documentation shall be made available for the VVB for validation. ICR allows for additional labelling of other certifications or other benefits, such as the SDGs.
Other benefits shall be described in the PDD (or PDDMR) and on the project registration page.
For validation to be completed, the PDD (or PDDMR) shall meet the validation criteria, i.e., conform to all requirements of ISO 14064-2, the ICR requirement document, and, where relevant, the applied methodology. Note that the minimum criteria for validation are the ICR requirement document and ISO 14064-2. The project proponent may decide to have an approved methodology as an added criterion for validation (see section 7.1).
The project proponent shall adhere to and demonstrate conformity to all applicable requirements.
All documents regarding the project shall be submitted to the VVB in electronic format or a format requested by the VVB.
The proponent shall not request to change the registration status to "Validated" until it has completed validation, received the ValR, and the VVB has uploaded the ValR to the registry platform and submitted the report to ICR.
The validation process shall be completed for projects to be eligible for registration and issuance of ICCs. With limitations, projects are eligible to issue ex-ante ICCs post validation (prior to monitoring and verification). See section 5.4 in the ICR requirement document. If project proponents issue ex-ante ICCs after validation of projects, they are inactive and, as such, can't be retired by organizations holding them or used to support any offsetting claim. Ex-ante ICCs can, however, be transferred. Issuance of ex-post ICCs is subject to verification of GHG emission mitigations by the VVB. Note that issuance of ICCs ex-ante does not guarantee them becoming ex-post ICCs, as discussed under section 8.2.1 but safeguards are in place to guaranteeing compensation of any non-performance of projects issuing ex-ante ICCs, see section 8.5.1.1.
Criteria for validation, including requirements for VVB, are set out in the ICR requirement document. Further guidance and specifications on validation and verification may be found in ICR validation and verification specifications. Projects shall complete validation before requesting registration and issuance of ICCs. The process for requesting issuance of ICCs is discussed under section 8.
The VVB shall review if the information in the project registration aligns with the documentation. Further, any images or posts the project proponent has shared relate to the project activities.
Project proponents shall submit documentation to the VVB according to requests by the VVB.
The VVB assesses the documentation and accompanying evidence of conformity to ISO 14064-2 requirements, the ICR requirement document, and, where applicable, the applied methodology or other criteria.
The VVB submits findings to the project proponent with findings and requests for corrective actions as applicable.
If applicable, the project proponent responds to the requests for corrective actions, and the VVB assesses the measures taken.
The VVB submits the final ValR or VVR with findings to the project proponent and uploads it to the registry platform.
The project proponent shall review that all relevant and necessary documentation has been uploaded to the registry and that relevant documents are available for public access.
PDD or PDDMR,
ValR or VVR,
Methodology specific documentation,
Environmental and socio-economic safeguards assessment,
Documentation relating to other criteria,
Representation deed.
Validation plan or validation and verification plan,
Validation agreement or validation and verification agreement,
Ownership proof.
Statement of no double issuance and counting.
Letter of attestation and authorization (if applicable)
When the proponent has confirmed that all documentation necessary for the registration has been uploaded, the project status may be changed to "Validated." A project proponent admin shall request a review of the project for registration from the registry platform.
ICR reviews the documentation and ValR (or VVR) for completeness, findings, and opinion.
If the ValR (or VVR) or supporting and required documents are insufficient or need clarification, ICR advises the VVB and/or the project proponent, respectively.
The project proponent initiates the final registration process from the ICR platform. The project review process is initiated when relevant documentation for registration or renewal of the crediting period is submitted to ICR via the registry platform. The process initiates no sooner than when all necessary documentation has been submitted to ICR and a request has been submitted by an authorized representative (admin) from the ICR registry platform by changing the status of the project to “Validated”. The project review process consists of a documentation review.
Figure 14: Registration process
Registration is possible when the project has been validated, the proponent has resolved all non-conformities raised by the VVB, and the VVB has submitted the ValR (or VVR) to the ICR.
The project review fee shall be paid before ICR completes the project review and the project is registered in the registry.
When a project is registered, relevant documents shall be made available in the registry platform as follows and are disclosed publicly[8]:
PDD or PDDMR,
ValR or VVR,
Environmental and socio-economic safeguards assessment,
Methodology specific documentation,
Documentation relating to conformity to other criteria,
letter of attestation and authorization (if applicable)
The following documents shall be provided to the ICR and are not disclosed publicly:
Representation deed.
Validation plan or validation and verification plan,
Validation agreement or validation and verification plan,
Ownership proof.
Project proponents shall advise ICR before disclosure, if any documentation is subject to non-disclosure or confidentiality.
The purpose of ICR review is to ensure that all applicable documents are complete and signed where necessary. When an approved VVB has completed the validation and/or verification, GHG emission mitigations have not been issued as instruments under another GHG program (or been cancelled as appropriate), appropriate information has been used to complete all project documents, the VVB holds required accreditation, and the competence of the audit team is appropriate. Further, check if the newest versions of methodologies or tools have been applied and if all information provided in the registry platform is consistent with the project documentation. Further to guarantee consistency in the documentation from the proponent and from the VVB and overall quality of the documentation.
If information is missing, incorrect or inconsistent, ICR will request that project documentation be updated, or information be revised on the registry platform. Any findings from the review shall be addressed before the registration or issuance request for instruments can be completed.
Both the project proponent and the VVB conducting the validation (and verification) will receive a review report issued by the ICR disclosing the findings from the review. The ICR review report will be publicly disclosed.
If the project proponent or VVB fails to address findings from the ICR, the ICR informs the VVB and/or the project proponent that the project has failed to demonstrate conformity to the ICR program requirements and is ineligible for registration or issuance.
Note that documentation review is also applicable for all issuances of ICCs ex-post. See section 8.4.
The registry stores all project documents in its record-keeping system for at least seven years from the retirement date of the last ICC to which the project documents relate.[9]
When the project has completed both validation and verification, the sections below are also applicable, but monitoring reporting shall be included in a PDDMR.
Figure 15: Review process
After the proponent has requested a review by the ICR for registration, the ICR shall respond with findings within four weeks after all fees have been paid. When the proponent (or VVB) has responded to findings raised or resolved all outstanding issues raised by ICR, ICR shall complete a review of responses and/or the registration within two weeks.
After validation and final step in the registration process of a climate project, ICR publishes publicly the validated estimation of GHG emission mitigations for the crediting period as an estimated supply for each vintage of the project on chain. This involves no-issuance event but merely a transparent public disclosure of validated projected GHG emission mitigations, which may be compared later to actual GHG emission mitigations of the project.
Figure 16: Project review timelines
During the project's operation, the GHG emission mitigations shall be monitored according to the monitoring plan and reported in a MR. Any deviations from the monitoring plan shall be addressed and justified in the MR.
If a deviation has been made to the PDD (or PDDMR), a revised PDD shall be issued and validated by the VVB and uploaded to the registry as a public document, along with the updated ValR.
When a VVB has been contracted, the project proponent shall submit a verification agreement and verification plan to the registry. Further, the proponent shall select the contracted VVB from the registry platform and add the verification team members as auditor users of the project.
Proponents shall select the monitoring period and monitored GHG emission mitigations when they submit MR. An admin shall upload the MR to the registry. See further section 8.3 for ex-post ICC issuances.
After monitoring, the GHG emission mitigations shall be verified by an approved VVB to be eligible for issuance of ex-post ICCs. If ex-ante ICCs have been issued, verification is mandatory to convert ex-ante ICCs to ex-post ICCs.
Figure 17: Submitting monitoring and verification reports
When GHG emission mitigations have been monitored according to the monitoring plan and verified by the VVB, ex-post ICCs may be issued, and/or ex-ante ICCs converted to ex-post ICCs; see section 8.2.1 and 8.3.
Criteria for verification, including requirements for VVB, are set out in the ICR requirement document. Further guidance and specifications on validation and verification may be found in ICR validation and verification specifications. Projects shall complete verification before requesting issuance of ex-post ICCs. The process for requesting issuance of ex-post ICCs post-monitoring is discussed under sections 8.2.1 and 8.3. The proponent shall identify the relevant criteria for verification in the registry platform. See the ICR user guide.
When the proponent has contracted a VVB for verification, the VVB is selected in the registry platform that will conduct the verification of the GHG emission mitigations along with the criteria for verification. When the VVB has been selected, the verification team shall have access to all information relevant to the project on the registry platform. See further in the ICR user guide.
The VVB shall review if the information in the project registration aligns with the documentation. Further, assess any images, videos or insights the project proponent publicly has shared and confirm that they relate to the project activities.
Project proponents shall submit documentation to the VVB according to VVB's request.
The VVB assesses the monitoring and accompanying evidence of conformity to the verification criteria.
The VVB submits findings to the project proponent with findings and requests for corrective actions as applicable.
If applicable, the project proponent responds to the requests for corrective actions, and the VVB assesses any measures taken.
The VVB submits the final VerR or VVR with findings to the project proponent and uploads it to the registry platform.
The project proponent shall indicate the monitoring period in the registry and review that all relevant and necessary documentation has been uploaded to the registry and that relevant documents are available for public access.
Updated PDD (if applicable),
New ValR (if applicable),
Monitoring report,
Verification report,
Statement of no double issuance and counting for the monitoring period,
and the following documents are private
Validation plan (if applicable)
Verification plan
Verification agreement.
ICR reviews the request to ensure all documents are complete and signed where necessary. An approved VVB has conducted the verification, instruments have not been issued under another GHG program (or been cancelled as appropriate) for the same GHG emission mitigations, and appropriate information is included in all documentation. The VVB holds the necessary accreditation, and the competence of the verification team is appropriate. Further, to check if the newest versions of methodologies or tools have been applied and all information provided in the registry platform is consistent with the project documentation.
The project proponent may issue ex-post ICCs according to monitoring and verification findings as stated in the MR and VerR or VVR, see section 8.3.
When the verification has been confirmed, ICCs are issued and delivered to the proponent (subject to any deduction due to ICR adjustment account deposits, see section 8.5). The supply of verified ex-post ICCs for the monitoring period is provided on-chain. Ex-ante ICCs issued are converted to ex-post ICCs
Figure 18: Verification review
If the crediting period has been renewed, a revised PDD and new ValR and validation agreement and validation plan shall be provided to ICR.
If the crediting period has been renewed, the following documents shall be uploaded to the registry as public documents.
Revised PDD