Reporting and compensating reversals
If stored carbon is lost, for example through fire, the IPP notifies NCCF within 15 days and submits a verified reversal report. NCCF then cancels MCUs from the Buffer Pool to compensate.
Steps
- Notify NCCF within 15 days of becoming aware of a reversal, by email to cri.projects@nccf.in. Include the project title and reference number, the events (natural or human-caused), actions taken and the estimated amount. NCCF confirms and posts the reversal on the Registry website.
- Appoint a VVB. If the reversal is reported with a Monitoring Report, the same VVB verifies both.
- Submit the reversal report on the CR-I template to the VVB. The VVB checks completeness and submits it within 45 days of the notification, or with the Monitoring Report if that is earlier.
- Public consultation of the report for 21 days.
- Verification. The VVB prepares a GHG Reversal Verification Report and submits the request for approval, within 180 days of the report’s submission, excluding the consultation.
- NCCF review within 21 working days.
- Compensation. NCCF cancels MCUs from the Buffer Pool equal to the approved reversal, within 14 working days of approval.
Multi-patch projects report reversals for each affected patch and for the project as a whole. If reversals in a period exceed the estimate by 5% or more, the IPP justifies the increase.
If the buffer is not enough
Where the compensation rules require more, the IPP deposits additional MCUs, of any scope and vintage. The Registration and Issuance Procedure gives 15 working days from approval; the reversal risk tool gives 45 days. Failing to deposit can lead to suspension or termination of the account.
Sources
- Registration and Issuance Procedure v1.0, section 9
- Tool for GHG Reversal Risk and Buffer Contribution v1.0, sections 5 and 6
