3.4 Project Crediting

Projects must be validated before they can begin to claim mitigation outcomes. Once these are verified, they may be issued credits.

3.4.1. Project Validation and Claimed Mitigation Outcomes

After a project undergoes an initial validation, it can start submitting claimed mitigation outcomes to NCS. However, these mitigation outcomes are not yet verified or issued as credits.

3.4.2 Verification and Issuance of Credits

Claimed mitigation outcomes must be verified by a third party before they can be used to issue credits. Once verified, these mitigation outcomes are eligible to become credits that can be sold or traded.

3.4.3 Crediting Period Start Date

This date marks the official start of the project activities. The project proponent can request a start date, but it cannot be more than two years before the initial project submission to the registry. Any carbon mitigation activities conducted on or after this date are eligible to be submitted as claimed mitigation outcomes, assuming they are later verified.

3.4.4 Crediting Period Duration and Renewal

The duration of the crediting period is specified in the project's project design document (PDD). Requirements for the minimum and maximum duration of a crediting period are defined in the relevant certified methodology. To renew a crediting period, the project proponent must update the PDD and re-validate the project to ensure ongoing compliance. The number of possible renewals is specified in the applicable methodology.

3.4.5 Verification Update Requirement

Projects must go through verification at the cadence specified in the relevant methodology. If the window for verification passes without verification, the project needs an updated PDD and must be re-validated before it can issue any further credits.

3.4.6 No Ex-ante Credits

NCS does not issue ex-ante credits.