Issuance of MCUs
MCUs are issued for each verified monitoring period after NCCF approves the request for issuance and the issuance fee is paid. Each MCU carries a unique serial number linked to its project and vintage.
Conditions for issuance
NCCF issues MCUs into an account when:
- the required information and documents have been provided
- an empanelled VVB has verified and certified the net reductions or removals
- NCCF is satisfied that the rules are met
- the fees under the Fee Schedule have been paid
Identification
Each MCU has a unique serial number. The project’s Project Reference Number (PRN) identifies every MCU the project generates, and the vintage records the year in which the reductions or removals occurred.
Issuance fee
Charged per MCU, tiered on the number of MCUs issued in a calendar year:
| MCUs issued in a calendar year | Fee per MCU (INR) |
|---|---|
| 1 to 1,000,000 | 5.00 |
| 1 to 2 million | 4.50 |
| 2 to 3.99 million | 4.00 |
| 4 to 6 million | 3.50 |
| 6 to 8 million | 3.00 |
| More than 8 million | 2.50 |
MCUs that an AFOLU project deposits from its own issuance into the Buffer Pool carry no issuance fee.
Limits and corrections
- Micro and small-scale projects receive MCUs only up to their scale threshold for the period.
- MCUs issued in error are cancelled.
- A parallel project may request issuance from only one programme for the same period.
Sources
- Terms and Conditions v1.0, sections 8.1 to 8.5 and 8.16
- Registration and Issuance Procedure v1.0, sections 6.9 and 8.2
- Fee Schedule, item 5
- Glossary of Terms v1.0, “Issuance”, “Project Reference Number” and “Vintage”
