Materiality and level of assurance
VVBs must reach at least reasonable assurance. A discrepancy between the IPP’s and the VVB’s figures is material if it exceeds 5%, 3% or 1%, depending on the size of the project.
Level of assurance
VVBs must reach at least reasonable assurance before a request for registration, issuance or methodology approval is submitted. Reasonable assurance means the results are materially correct and fairly represented.
Materiality thresholds
| Net GHG reduction or removal | Threshold |
|---|---|
| Up to 20,000 tCO2e | ±5% |
| Above 20,000 and up to 100,000 tCO2e | ±3% |
| Above 100,000 tCO2e | ±1% |
% discrepancy = (reductions claimed by the IPP − reductions found by the VVB) ÷ reductions found by the VVB × 100
A discrepancy above the threshold is material. The VVB asks the IPP to correct it, and may need to evaluate further to reach reasonable assurance. Only quantitative materiality is assessed.
Techniques
- Desk review of the IPP’s documents and other sources
- Site visit to inspect boundaries, instruments and processes. Micro-scale projects may skip it unless NCCF requires one.
- Follow-up by email, calls and cross-checks with external sources
Sources
- Validation and Verification Standard v1.1, sections 10, 11 and 12
