9. Project Rules and Regulations
9.1. Project Registration
Project Proponents must submit a Project Plan and subsequent documentation to the Registry Agent to apply for Project Registration under a given Credit Protocol.
The Registry Agent shall conduct an exhaustive review of the Project Plan and subsequent documentation to ensure the Project Proponent has met all the requirements outlined in the Protocol/Methodology, and Regen Registry Program Guide and register the project upon satisfactory confirmation that all documentation is complete.
9.2. Project Monitoring and Credit Issuance
Monitoring and Verification reports shall be created for each Reporting Period. Monitors and Verifiers shall submit reports to the Registry Agent, including any corrections/revisions identified by the verifier (if applicable).
The Monitoring and Verification Reports shall describe the current status of project operation, and include the data monitored, the monitoring plan, the calculated emission reductions and ecological indicators for the Reporting Period stated in the Protocol/Methodology and following the guidelines in the Approved Methodology.
The Registry Agent shall conduct an exhaustive review of all submitted information to ensure that Monitors and Verifiers have met the requirements stipulated in the Protocol/Methodology and issue credits upon satisfactory confirmation that all documentation is complete.
9.3. Project Renewal
At the end of the project, the Project Proponent can elect to renew the project. The Project Proponent may do so by:
Choosing from a renewal period as stipulated in the Protocol/Methodology.
Submitting an updated Project Plan in compliance with up-to-date Protocol/Methodology.
The final project monitoring and verification round of carbon stock and/or other ecological indicator estimates will be automatically used as the renewal up-to-date baseline.
Project Proponents may renew a project multiple times. Regen Registry does not limit the number of periods of renewal that are allowed for a given project.
9.4. Project Termination
9.4.1. End of Crediting Term
At the end of the Crediting Period, the Project Proponent will engage in a final project verification. The report will be made public.
The Project Proponent has the choice to renew the project (renewal duration stipulated in Protocol/Methodology).
In the case of a GHG removal credit, based on the end of project carbon stock estimation, the Credit Protocol Admin will retire or issue credits from the Buffer Pool. See the Buffer Pool section for more details.
9.4.2. Premature Project Termination
Prior to credit sales transactions (i.e. sold, transferred, or retired), a Project Proponent can decide to end the project prematurely with no penalties.
Regen Registry, Credit Protocol Admin, and Registry Agent fees will still apply, along with any outstanding obligations between Project Proponent and 3rd parties, such as Verifiers and/or Monitors.
9.4.3. In the case of a GHG removal credit
Before credit sales transactions, project credits in the Project Proponent’s account will be canceled including the respective Buffer Pool and Permanence Reversal Buffer allocations.
After credit sales transactions, the Project Proponent:
Shall engage with a final monitoring and verification round to calculate the carbon stock levels and determine Buffer Pool allocations and/or further compensation required. See the Buffer Pool section for more details. If the Project Proponent fails to engage with a final monitoring and verification round, the project will be deemed to be non-compliant.
Comply with permanence requirements of the vintage that was sold.
9.5. Project On Hold
A project may be put on hold by the Registry Agent if:
Project Proponent fails to comply with the reporting requirements stated in Protocol/Methodology.
A Verification Report is submitted with a Rejection rating.
In the case of a GHG removal credit, an intentional reversal of carbon stock is identified.
A project in on hold status will not be issued credits until the identified issues are resolved.
The Project Proponent will be allowed 60 days to remedy the fault found or the project will be deemed non-compliant. The Registry Agent may require an additional monitoring and verification round after the fault has been remedied.
9.6. Non-Compliant Projects
Projects that are non-compliant include the following cases:
In the event that a project was put on-hold and the Project Proponent did not comply with the satisfaction of the Registry Agent’s requests within 60 days.
The Project Proponent terminated the project prematurely and did not comply with final monitoring and verification round requirements.
These cases will be seen as a breach of contract, subject to dispute resolution as stipulated in the project registration agreement between the Project Proponent and Registry Agent. If the dispute is not resolved, the project will be terminated and all issued credits remaining in Project Proponent’s account along with the project credits allocated to Buffer Pool and Permanence Reversal Buffer (if applicable) will be canceled.
Non-compliant projects will be marked as non-compliant and, depending on the case, at the Registry Agent’s discretion, the Project Proponent might be restricted from listing any future projects on Regen Registry.
9.7. Previous Rejection by other Registries
Regen Registry may consider a project rejected by other registries, due to procedural or eligibility requirements, if the project complies with the Protocol/Methodology. The Project Proponent for such a project shall include a statement in the Project Plan that lists all other programs to which the Project Proponent has applied for registration and was rejected, the reason(s) for the rejection, and pertinent documentation.
9.8. Personal / Commercially Sensitive Information
Project Proponents may request to designate portions of the Project Plan or project documentation as Personal / Commercially Sensitive Information. This information must be available for review by the Registry Agent and the approved Verifier (with non-disclosure agreements, as necessary), but will not be posted publicly as part of the project documentation on Regen Registry. This information will be restricted to these Project Plan items:
Entity name and contact information (for project actors other than the Project Proponent, Monitor, and Verifier)
Underlying documents proving attestation of land tenure
Underlying contractual agreements between project actors
To promote transparency, Regen Registry shall presume by default all project information to be available for public scrutiny, unless requested otherwise by the Project Proponent.
9.9. Managing Property Under Restrictive Permanence Covenants Obligation
Property placed under permanence obligations from a project registered with Regen Registry must maintain those obligations through the defined permanence period to ensure ongoing protection of Project Activities. A change in ownership of the land does not change these requirements, therefore a Project Proponent is required to burden the property with a restrictive covenant to ensure these permanence obligations remain in place in the event of all subsequent transfers of property rights to new owners that may occur prior to the end of the Permanence Period.
The Project Proponent shall attest to its intent to have the restrictive covenant run with the land at creation of the covenant through the the end of the defined Permanence Period
The covenant shall relate to the direct use or enjoyment of the land in order to protect the permanence obligations , for example, restrictions from deforestation in the event of a reforestation project
The Project Proponent shall inform the subsequent landowner of the restrictive covenant that runs with the land and take appropriate action to document this covenant in writing in the relevant jurisdiction, such as through the creation of a separate deed or placing notice on the register of title.
The Project Proponent shall ensure privity between covenantor and covenantees and other legal requirements necessary for the restrictive covenant to run with land per the jurisdiction in which the land is located
If the Project Proponent is not the land owner, it shall enter into an agreement with the land owner such that the land owner burdens her land with a restrictive covenant that shall run with the land and burden subsequent landowners and covenantees
The Project Proponent is required to submit documentation of the covenant to the Registry Agent.
Project Proponents must also inform prospective land buyers of any restrictive covenants that run with the land registered under projects with Regen Registry
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