4.2 Validation and Verification Process

All projects must be validated by an independent VVB, to assess conformity with the NCS standard, and with the applied methodology. After validation, the project can claim mitigation outcomes to NCS. These claimed mitigation outcomes must be verified in order to issue credits. As set out in ISO 14064-2:2019 sections 6.12 and 6.13, validation and verification is carried out in line with ISO 14064-3. In addition, the following requirements apply:

• The validation and verification process must be carried out in line with ISO 14065.

• Mitigation outcomes must be verified at the cadence specified by the relevant methodology.

• Project validation may occur at the same time as the first verification, or before the first verification.

• Project validation and the first verification must be conducted with an on-site audit. For subsequent verifications, the VVB must assess the need for on-site verification.

• The required level of assurance for verifications is "reasonable", as defined in ISO 14064-2:2019.

The project proponent must also establish and maintain a monitoring plan that is coherent with section 6.10 of ISO 14064-2:2019.

The VVB must produce a report on the verification process and outcome. This report needs to adhere to the requirements set out in ISO 14064-3:2019.

Following this process, NCS will review the project documents used for validation and verification and either accept them, request clarifications or corrections from the project proponent or VVB, or reject them. Once the initial validation report for a project is approved by NCS, the project will be listed as validated on the registry.

For validations and verifications, the results of the validation and verification processes, including the validation report, will be made publicly available for each project.