Request for issuance
After verification, the VVB submits the request for issuance (RfI). Once NCCF approves it and the IPP pays the issuance fee, NCCF issues MCUs into the IPP’s account.
Submitting
The VVB submits the RfI form with the Monitoring Report, Verification Report and supporting documents. NCCF confirms by email with a unique RfI reference number.
Review
NCCF reviews the request within 21 working days, not counting the VVB’s response time. The outcome is approval, rejection, or a request for clarification. As with registration, the VVB may respond once and may ask for one consultation within 3 working days.
After approval
- The IPP pays the issuance fee for the approved MCUs. It is tiered on the number of MCUs issued in the calendar year, from INR 5.00 down to INR 2.50 per MCU.
- NCCF generates the MCUs and transfers them to the IPP’s Registry account.
- NCCF emails the IPP the number transferred, and the IPP confirms by reply.
- AFOLU projects contribute to the Buffer Pool.
Micro and small-scale projects receive MCUs only up to their scale threshold for the monitoring period.
Withdrawing
The IPP, through the VVB, can withdraw the request before NCCF decides.
Sources
- Registration and Issuance Procedure v1.0, sections 6.8 to 6.10
- Carbon Standard v1.1, section 13.5
- Fee Schedule, item 5
