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© 2024 BIOCARBON CERT. All rights reserved. Reproduction in whole or in part

without the express permission of BIOCARBON CERT.

BIOCARBON CERT. 2024. BCR STANDARD. VERSION 3.4. JUNE 28, 2024. 78 p.
[Link]

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Table of contents
1 Introduction ............................................................................................................................................. 7

2 Objectives ................................................................................................................................................ 8

3 Version .................................................................................................................................................... 8

4 General Terms ......................................................................................................................................... 9

5 Language ................................................................................................................................................. 9

6 Scope ....................................................................................................................................................... 9

7 Area of Application ................................................................................................................................ 11

8 Principles ............................................................................................................................................... 11

9 Normative References ........................................................................................................................... 12

10 Methodological Documents ............................................................................................................... 13

11 General Requirements ....................................................................................................................... 13

11.1 Project Types........................................................................................................................................ 13
11.1.1 ARR Activities ............................................................................................................................. 14
11.1.2 REDD+ activities ......................................................................................................................... 14
11.1.3 Activities in the Energy Sector ................................................................................................... 14
11.1.4 Activities in the transportation sector....................................................................................... 16
11.1.5 Activities on waste handling and disposal ................................................................................ 16
11.2 Project Location ................................................................................................................................... 16
11.3 Project Scale ........................................................................................................................................ 16
11.4 Start Date ............................................................................................................................................ 17
11.5 Project length and quantification periods ........................................................................................... 17
11.5.1 Renewal of quantification periods .............................................................................................. 18
Renewal of the quantification period process .................................................................... 20
Evaluation of the request for renewal of a quantification period .............................. 20
11.6 Additionality ........................................................................................................................................ 21
11.7 Compliance with Laws, Statutes and Other Regulatory Frameworks .................................................. 21
11.8 Climate change adaptation ................................................................................................................. 22

12 Quantification and monitoring of GHG emission reductions and/or GHG removals........................... 23

12.1 Conservative approach and uncertainty management ....................................................................... 23
12.2 Baseline scenario ................................................................................................................................. 24
12.2.1 Baseline reassessment ............................................................................................................... 25
12.3 Leakage and non-permanence ............................................................................................................ 26
12.4 Mitigation results ................................................................................................................................ 27

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13 Carbon ownership and rights ............................................................................................................. 27
13.1 Land Ownership ................................................................................................................................... 28

14 Risk Management .............................................................................................................................. 28

14.1 Reversal Risk Management ................................................................................................................. 29
14.1.1 Reserve percentage and reserve accounts ................................................................................. 29
AFOLU projects ........................................................................................................................................ 29
Other projects than AFOLU sector .......................................................................................................... 30
14.1.2 Lost Event Report........................................................................................................................ 30
14.1.3 Procedures for holding and reserving credits ............................................................................. 31

15 Sustainable development safeguards (SDSs) ..................................................................................... 31

16 Stakeholder engagement and consultation ....................................................................................... 32

16.1 Stakeholders’ consultation .................................................................................................................. 34
16.2 Public Consultation .............................................................................................................................. 34

17 Sustainable Development Goals (SDG) .............................................................................................. 34

18 REDD+ Safeguards ............................................................................................................................. 36

19 Special categories, related to co-benefits .......................................................................................... 37

19.1 Special categories components ........................................................................................................... 39
19.1.1 Biodiversity conservation .......................................................................................................... 39
19.1.2 Community Benefits................................................................................................................... 39
19.1.3 Gender Equity ............................................................................................................................. 40
19.2 Categories and additional benefits ...................................................................................................... 40
19.2.1 Category 1. Orchid ...................................................................................................................... 40
19.2.2 Category 2. Wax Palm ................................................................................................................ 41
19.2.3 Category 3. Andean Condor ....................................................................................................... 42

20 Grouped Projects ............................................................................................................................... 43

20.1 Activities in the AFOLU Sector.............................................................................................................. 43
20.2 Activities in the energy, transportation, and waste sectors ................................................................ 44

21 Monitoring Plan ................................................................................................................................. 45

22 Validation and verification ................................................................................................................ 47

22.1 Validation ............................................................................................................................................ 48
22.2 Verification .......................................................................................................................................... 49
22.3 Other considerations for validation and verification ........................................................................... 50
22.4 Validation or verification statement .................................................................................................... 50

23 Conformity Assessment Bodies (CAB) ................................................................................................ 50

24 Project registration and issuance of Verified Carbon Credits (VCC) .................................................... 52

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25 Other GHG Programs ......................................................................................................................... 53

26 Double Counting avoiding.................................................................................................................. 54

27 Changes after the GHG project registration ....................................................................................... 55

28 Registry Platform ............................................................................................................................... 55

29 Public Information ............................................................................................................................. 56

30 Transition plan................................................................................................................................... 56

ANNEX A. GLOSSARY OF TERMS ....................................................................................................... 58

Index of figures
Figure 1 Requirements of the Orchid category .................................................................................................. 41
Figure 2 Requirements of the Wax Palm category ....................................................................................... 42
Figure 3 Requirements of the Andean Condor ................................................................................................ 43

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Acronyms and abbreviations
AFOLU Agriculture, Forestry, and Other Land Use
BCR BioCarbon
CAB Conformity Assessment Bodies
CDM Clean Development Mechanism
CH4 Methane
CO2 Carbon dioxide
CO2e Equivalent carbon dioxide
FAO Food and Agriculture Organization of the United Nations
GHG Greenhouse gases
HCV High Conservation Value
IAF International Accreditation Forum
ILO International Labour Organization
IPs Indigenous Peoples
IPCC Intergovernmental Panel on Climate Change
ISO International Organization for Standardization
IUCN International Union for Conservation of Nature
LCs Local Communities
LMT Landscape management tools
N2O Nitrous oxide
NCRE Non-Conventional and Renewable Energy Sources
Reduction Emissions from Deforestation, Degradation and forest
REDD+ conservation, sustainable management, or improvement of carbon
stocks in forests
SDGs Sustainable Development Goals
UNFCCC United Nations Framework Convention on Climate Change
VCC Verified Carbon Credits

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1 Introduction
According to the 2018 Report of the Global Commission on the Economy and
Climate1, "the impacts of rapid and unequivocal global warming are clear."
Therefore, said commission considers that the current challenge is to accelerate
the transition to a better, more inclusive, and newer climate economy, particularly
through five key systems: energy, cities, land use and food, water, and industry. In
this way, the path to low-carbon growth will create new opportunities for
sustainable and equitable development.

The IPCC Special Report (2018)2 is a report that focuses on ethical considerations
and, in particular, the principle of equity throughout the transition to a low carbon
economy. In the same vein, this report acknowledges that the majority of global
warming impacts and required mitigation actions needed to limit warming to 1.5°C
fall disproportionately on the poorest and most vulnerable communities.

The IPCC also suggests that limiting warming to 1.5°C is not impossible but will
require a series of unprecedented transitions in all areas of society, indicating that
the following years are crucial. Consequently, the IPCC considers that ambitious,
near-term mitigation actions are indispensable to achieve sustainable
development and poverty eradication while limiting warming to 1.5°C.

On the other hand, the 2019 Emissions Gap Report3 stated that "to achieve the goal
of keeping global warming to 2°C, between 2020 and 2030 global emissions would
need to be reduced by about 3% each year, and to achieve the Paris Agreement
goal of keeping global warming to 1.5°C, average annual reductions of more than
7% would need to be achieved. “

In order to achieve this goal, societies will need to come together and strive for the
common good and increase the deployment of renewable energy and nature-
based solutions. Although the transition to this new "low carbon growth" economy
may have begun, it is clear that the pace of progress has not yet been fast enough.
It is crucial that climate-smart solutions are put in place at all levels.

Therefore, it is believed that by setting goals for both adaptation and mitigation we
can effectively address climate change. This will involve developing strategies that

1 [Link]
2
Allen, M.R., O.P. Dube, W. Solecki, F. Aragón-Durand, W. Cramer, S. Humphreys, M. Kainuma, J. Kala, N. Mahowald,
Y. Mulugetta, R. Perez, M. Wairiu, and K. Zickfeld, 2018: Framing and Context. In: Global Warming of 1.5°C. An IPCC
Special Report on the impacts of global warming of 1.5°C above pre-industrial levels and related global greenhouse
gas emission pathways, in the context of strengthening the global response to the threat of climate change,
sustainable development, and efforts to eradicate poverty [Masson-Delmotte, V., P. Zhai, H.-O. Pörtner, D. Roberts,
J. Skea, P.R. Shukla, A. Pirani, W. Moufouma-Okia, C. Péan, R. Pidcock, S. Connors, J.B.R. Matthews, Y. Chen, X. Zhou,
M.I. Gomis, E. Lonnoy, T. Maycock, M. Tignor, and T. Waterfield (eds.)]. In Press.

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connect adaptation and mitigation with social objectives and the overall equitable
development of communities at the local, regional and national levels.

In the same sense, BIOCARBON is committed to concrete actions to support host

countries in their mission to achieve the Nationally Determined Contributions
(NDCs). In addition to promoting climate action at the global level and
strengthening compliance with the NDCs, BIOCARBON promotes sustainable
development in line with the objectives of the Paris Agreement.

Based on the above, GHG projects approved and registered with the BIOCARBON
Standard are based on activities that have an impact on the climate economy and
contribute to the mitigation of GHG emissions by building global sustainable
development actions.

2 Objectives
The objectives of this Standard (from now on referred to as BCR STANDARD) are:

(a) to provide the principles and requirements applicable to the GHG projects,
to obtain certification and registration with BIOCARBON;

(b) to provide the necessary conditions to ensure quality in the quantification

and management of GHG emission reduction and/or removals;

(c) to provide requirements related to the baseline and additionality, the

management of uncertainty, as well as the management of risks and
leakages and non-permanence;

(d) to provide guidance to Conformity Assessment Bodies (CAB) related to the

validation and verification processes of GHG projects;

(e) to promote compliance with the rules and procedures that apply to the
certification and registration of GHG projects;

(f) to ensure the overall efficiency and integrity of the GHG Crediting Program
of BIOCARBON (hereinafter referred to as GHG PROGRAM).

3 Version
This document constitutes Version 3.4. June 28, 2024.

This version of the BCR Standard may be periodically adjusted, and intended users
shall ensure they use the updated version of the document. This also applies to the
documents cited herein and in other documents that make up the GHG PROGRAM;
the most recent version of the documents shall be used.

Previous versions of the BCR PROGRAM may have included different rules and
requirements from those set out in this version. Previous versions of the BCR
STANDARD and other GHG PROGRAM documents are archived and available on the
BIOCARBON website.

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GHG project holders will have a transition period of thirty (30) calendar days to use
the updated version, starting from its publication.

4 General Terms
The following general terms apply for this Standard:

(a) "Shall" is used to indicate that the requirement shall be met;

(b) "Should" is used to suggest that, among several possibilities, a course of

action recommended as particularly appropriate;

(c) "May" is used to indicate that it is permitted.

5 Language
The operating languages of the Program are English and Spanish. Nevertheless, it
is required that the documentation contained in the public registry be submitted
in English. The project document, validation report, monitoring report, verification
report, and all other documentation (including all and any appendices) required
under the GHG Program shall be in English.

6 Scope
This document is a standard for the certification and registration of GHG projects,
as well as the issuance of Verified Carbon Credits (hereinafter VCC). The BioCarbon
Standard (or BCR STANDARD) belongs to the GHG PROGRAM, which also includes
guidance for the registration of GHG Projects that demonstrate compliance with
the requirements established in the national legal frameworks, as well as
compliance with the rules and procedures established by BIOCARBON.

The certification and registration of GHG projects are possible under GHG PROGRAM,
if such projects have been previously validated and verified by one Conformity
Assessment Bodies (CAB) accredited in accordance with the provisions of section
23 of this document.

This document set out the principles and requirements necessary for the
certification and registry of GHG projects, and the issuance of VCCs in BIOCARBON,
ensuring that they comply with the conditions established in this Standard.

The scope of this Standard is limited to:

(a) the following greenhouse gases covered by the Kyoto Protocol: carbon
dioxide (CO2), methane (CH4), and nitrous oxide (N2O);

(b) GHG emissions reductions or GHG removals that exceed any GHG reduction
or removals required by law, regulation, or legally binding mandate;

(c) GHG projects using a methodology developed or accepted by BIOCARBON,

applicable to ARR activities and REDD+ activities;

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 (d) quantifiable GHG emission reductions and removals generated by the
implementation of ARR activities or REDD+ activities;

(e) GHG projects using a methodology developed or accepted by BIOCARBON,

applicable to activities in the energy, transportation, and waste handling and
disposal sectors;

(f) quantifiable GHG emission reductions generated by the implementation

activities in the energy, transportation, and waste handling and disposal
sectors.

This document presents the requirements for the certification and registration of
projects aimed at reducing GHG emissions and/or removals. The GHG PROGRAM
includes other documents3 that constitute the methodologies for the
quantification of GHG emission reductions and removals, defined by sector and/or
type of project (See section 11).

The GHG PROGRAM establishes the necessary procedures to meet the requirements
for quality, integrity, and transparency in the development of methodologies. Those
elements are also described in the BCR Guidance “Methodologies Development
and Approval”4.

The guidance provides the elements and procedures for developing or evaluating
methodologies, including procedures for reviewing and approving methodological

3
Methodological documents or guidance
4
[Link]

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documents and tools that ensure the conditions set by BIOCARBON, consider best
practices, and guarantee the scientific and technical basis needed for climate
action and carbon markets.

Methodology development and approval includes a review process to assess the

consistency of the methodology developments with the GHG PROGRAM and eligible
activities.

The use of the BCR STANDARD and the application of methodologies, and tools, that
are structured and developed under the GHG PROGRAM is permitted exclusively for
projects that are certified and registered with BIOCARBON. Consequently, the use of
the BCR STANDARD or methodologies/tools for the project registration in another
registry system is prohibited.

7 Area of Application
The BCR STANDARD intends to serve:

(a) any individual or organization that seeks to register its GHG Project within
BIOCARBON;

(b) any individual or organization that seeks to register their GHG Project to
demonstrate its mitigation results, as a result of the implementation of such
actions;

(c) GHG project holders;

(d) independent entities that perform validation and verification processes of

GHG projects, meaning, Conformity Assessment Bodies (CAB);

(e) the persons in charge of carrying audits of validation and verification;

(f) actors involved in the trading and transaction of GHG emission reductions
and removals;

(g) entities involved in climate change information management.

8 Principles
The GHG project holder and, in general, all those involved in the design,
development, validation and verification of GHG projects should apply the following
principles5:

Pertinence

5
As set out in the ISO 14064-2 Standard

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To select sources, sinks, GHG reservoirs, data, and methodologies appropriate to the
intended user.

Total coverage
Include all relevant GHG emissions and removals. Include all relevant information
to support the criteria and procedures.

Coherence
Allow for meaningful comparisons in GHG-related information.

Accuracy
Reduce bias and uncertainty as much as possible.

Transparency
Disseminate sufficient and appropriate GHG-related information to enable future
users to make decisions with reasonable confidence.

Conservative attitude
Use conservative assumptions, values, and procedures to avoid overestimating the
emission reductions or the increase of GHG removals.

9 Normative References
The following references are indispensable for the implementation of this
Standard6:

(a) BCR Methodological Documents and BIOCARBON Guidelines and Tools, as

applicable to GHG projects;

(b) Clean Development Mechanism (CDM) rules, procedures, methodologies,

and methodological tools, where applicable;

(c) National legislation applicable to GHG projects;

(d) ISO 14064-2:2019(es). Greenhouse gases - Specification with guidance, at the

project level, for quantifying, monitoring, and reporting the reduction of
emissions or the enhancement of removals of greenhouse gases, or that
which updates it;

6
If the versions of the documents or Web sites referenced in this document are changed, the most recent version
of the document or Web site address that replaces it should be considered the reference.

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 (e) ISO 14064-3:2019(es). Greenhouse gases - Part 3: Specification with guidance
for validation and verification of greenhouse gas declarations, or its
amendment;

(f) ISO 14065:2013(es). Greenhouse gases - Requirements for bodies

undertaking validation and verification of greenhouse gases for use in
accreditation or other forms of recognition, or that which updates it.

10 Methodological Documents
The BCR Standard includes methodological documents for quantifying GHG
emission reductions or removals, at the project level.

The methodological documents contain the applicability criteria and detailed steps
for quantifying and monitoring results against design and implementation of GHG
projects, by a given project type.

Although the methodological documents contain specific guidance for each type
of GHG Project, each GHG Project shall also adhere to the general principles and
requirements outlined in this Standard.

Projects holders shall apply methodologies eligible under this Standard.

Methodologies shall be applied in full, including the full application of any tools or
parameters/data referred to by a methodology.

All methodological documents developed by BIOCARBON and approved by the

BIOCARBON Technical Committee are available on [Link].

Project holder in the energy, transportation and waste sector, shall use
methodologies approved by the Executive Board of the Clean Development
Mechanism (CDM – UNFCCC)7.

11 General Requirements
Under the GHG PROGRAM, GHG Project holder shall comply with the requirements
outlined below.

11.1 Project Types

As noted in section 6 (Scope), this document set out the Standard for certification
of GHG projects.

7
The CDM methodologies are available in [Link] and the CDM
Methodological tools in [Link]

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The GHG projects include activities in the AFOLU, Energy, Transportation, Waste,
and AFOLU sectors that result in the GHG emission reductions or GHG removals
against an established baseline.

Projects in the AFOLU sector may include ARR and REDD+ activities. The energy
sector activities comprise of energy generation from Non-Conventional and
Renewable Energy Sources (NCRE). Activities in the transportation sector include
emission reduction activities related to fuel switching or other means of reducing
GHGs. Finally, waste sector activities include the handling and final disposal of solid,
liquid, industrial, household, or mixed waste.

11.1.1 ARR Activities

In the AFOLU sector, ARR Activities are classified as GHG mitigation activities and
include agricultural and forestry activities.

These may include silvopastoral systems (grasses and planted trees), agroforestry
systems (agroforestry crops), commercial plantations (forest plantations), and other
landscape management tools, as well as crops, as long as they grow in areas that
are not natural forests or vegetation cover other than forest8.

NOTE: The land at the geographic boundaries of the project does not correspond
to the forest category (according to the national forest definitions for the Clean
Development Mechanism) or to a natural vegetation cover other than forest either
at the starting date of the project activities or five years before the project start date.

11.1.2 REDD+ activities

REDD+ activities are GHG projects aimed at reducing emissions due to
deforestation and forest degradation, as well as promoting conservation,
sustainable forest management and increasing forest carbon stocks.

11.1.3 Activities in the Energy Sector

Non-Conventional and Renewable Energy Sources (NCRE)

This type of GHG Project is an alternative to the mining energy sector and describes
the generation of energy by non-conventional sources of renewable energy. NCRE
refers to energy generated by solar, wind, biomass, and hydraulic power, defined
below:

Solar Energy: Energy obtained from that non-conventional source of renewable

energy that consists of electromagnetic radiation from the sun.

8
The names in parentheses correspond to the definitions contained in CORINE Land Cover. See Glossary of
Terms.

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Wind Energy: Energy obtained from that non-conventional source of renewable
energy that consists of the movement of air masses.

Biomass Energy: Energy obtained from the unconventional source of renewable

energy based on the spontaneous or induced degradation of any organic matter
that has had its immediate origin as a result of a biological process. It also refers to
plant photosynthesis products and products from heterotrophic organisms,
provided that those products are not in contact with traces of elements that confer
some degree of danger on them.
Hydraulic Power: Energy from small hydroelectric developments. Energy obtained
from that non-conventional source of renewable energy is based on water bodies
on a small-scale. This includes only small hydroelectric plants (PCH), i.e., with an
installed capacity between 500 and 20,000 kW, run-of-river operation.

Energy Efficiency

Energy efficiency refers to the ratio between the energy consumed and the total
energy used in any process along the energy chain. This concept is an essential
component of sustainable development which also involves adhering to current
regulations on the environment and renewable natural resources.

This category includes projects related to the adoption of new technologies (of use,
measurement, and analysis), good operational practices, and habits to optimize the
use of energy resources and when applicable to reduce GHG emissions associated
with the use of energy resources.

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11.1.4 Activities in the transportation sector
The GHG PROGRAM considers GHG projects that include emission reduction
activities related to fuel switching or other means of reducing GHGs.

Los titulares de proyectos de GEI, con actividades en el sector transporte, deben

emplear las metodologías del Mecanismo de Desarrollo Limpio (MDL).

11.1.5 Activities on waste handling and disposal

Waste management and disposal projects eligible under BIOCARBON are GHG
emission reduction projects that focus on the use of waste and the reduction of
GHG emissions that would be generated during the treatment and final disposal of
solid or liquid, industrial, household or mixed waste.

Project holders of this type of projects shall apply the methodologies outlined in
sector 13 of the Clean Development Mechanism (CDM): Waste handling and
disposal.

Some proposed projects may also classify as renewable energy or energy efficiency.
However, for this Standard’s purposes, any projects that are not covered by the
latest version of the guidance for the certification and registration of Non-
Conventional and Renewable Energy Sources (NCRE) shall classify as Waste Sector
projects.

Waste handling and disposal projects can include the following activities:

(a) Burning, oxidation, or use of gas in a landfill;

(b) Recovery and recycling of materials coming from waste;

(c) Use of gases, including syngas as a renewable energy source;

(d) Use or replacement of technology to eliminate or reduce the generation of

GHG in solid waste treatment systems;

(e) Use or replacement of technology to eliminate or reduce the generation of

GHG in wastewater treatment; and

(f) Burn or use of gas in systems of wastewater treatment.

11.2 Project Location

GHG projects under the GHG PROGRAM may be located in any country.

11.3 Project Scale

GHG projects, classified as ARR activities, and REDD+ projects, are not subdivided
into project scale categories.

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The GHG projects in sectors other than AFOLU are subdivided in large-scale and
small-scale, following the definitions of the Clean Development Mechanism9.

11.4 Start Date

The start date for GHG Projects is when the activities that result in actual
reductions/removals of GHG emissions begin. That is when the implementation,
construction, or real action of a GHG Project begins.

For ARR activities, this starting date corresponds to the time on which site
preparation, the establishment of crop, commencement of restoration activities, or
other actions related to project activities begin.

For REDD+ projects, the start date is when the project activities reduce emissions
from deforestation and forest degradation. For instance, those may be forest
management strategies’ start and, when applicable, forest resource conservation
plans, including agreements or contracts. In other words, concrete actions to
reduce deforestation/degradation.

Project holders can only certify and register, with the BCR STANDARD projects whose
start date is defined within the five (5)10 years prior to the start of validation11.

11.5 Project length and quantification periods

The project length is the number of years from the project start date that project
activities will be maintained. The project length is made up of the project
quantification periods.

Project holder shall determine the start date of the GHG project and provide a
description of how this start date has been determined. Based on, project holder
shall define the project length of the GHG project. The project length of GHG
projects is the following:

(a) for AFOLU projects

(i) for ARR projects, a maximum of 40 years;

(ii) for REDD+ projects, a maximum of 60 years;

(b) for projects in sectors other than AFOLU

(i) A maximum of seven years which may be renewed at most two times,
provided that, for each renewal, a Conformity Assessment Body determines
and informs that the original project baseline is still valid or has been
updated taking account of new data where applicable; or,

9
Information available in [Link]
10
This applies for the registered projects in BCR, for projects migrating from other standards, the rules of the
standard in which they originate apply.
11
Validation begins once a commercial agreement has been signed with the CAB.

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 (ii) A maximum of 10 years with no option of renewal.

Project holder shall select the type of quantification period (fixed or renewable),
where applicable, for the GHG project as follows:

(a) for ARR projects

▪ fixed quantification period shall be at most 40 years, or,

▪ renewable quantification period shall be at most twenty years and shall

be renewed once, for other twenty years; for a maximum total length of
40 years;

(b) for REDD+ projects

▪ renewable quantification period shall be at most ten years and shall be

renewed at least three, for a minimum total length of 40 years.

(c) other than AFOLU projects

▪ renewable quantification period may be at most seven years and shall be

renewed two, for a maximum total length of 21 years;

▪ nonrenewable quantification period of ten years;

The project holder shall define the lifespan of the project activity and this statement
shall be validated by the CAB at registration time.

Project holders shall state the start date of the quantification period in the PD
template (dd/mm/yyyy) and shall not use any qualifications to the start date, such
as “expected”.

Regarding grouped projects, the same requirements on quantification period (start

date, length, and quantification period) shall apply.

11.5.1 Renewal of quantification periods

As described in section 30 (below), if BIOCARBON establishes new requirements,
registered projects will not be required to comply with the new requirements for
the current quantification period. That is, such projects will remain eligible to issue
CCVs until the end of the quantification period without validation of the new
requirements. However, the new requirements shall be met at the time of renewal
of the quantification period.

With respect to the renewal of the project quantification period, under the GHG
PROGRAM, the following applies:

(a) the validity of the original baseline scenario shall be assessed, including a
review of the impact of relevant new national and/or sectoral national and/or
sectoral policies and circumstances on the validity of the baseline scenario;

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 (b) where the baseline scenario is not valid, this shall be updated taking account
of new data, and current circumstances where applicable;

(c) if it is determined that the original baseline scenario is no longer valid, the
current baseline scenario shall be updated in accordance with the provisions
of the GHG PROGRAM;

(d) the demonstration of the validity of the original baseline or its update does
not require a reassessment of the baseline scenario, but rather an
assessment of the emissions which would have resulted from that scenario.
In addition, the project holder shall demonstrate the regulatory surplus and
compliance with the GHG PROGRAM rules and requirements, updating the
project description accordingly.

Project holder shall update those sections of the project document relating to the
baseline, estimated emission reductions and the monitoring plan using an
approved baseline and monitoring methodology as follows:

(a) The latest approved version of a baseline and monitoring methodology,

applied in the original Project Document of the registered GHG project, shall
be used whenever applicable;

(b) If a baseline and monitoring methodology, applied in the original Project

Document, was withdrawn after the registration of the GHG project and
replaced by another methodology, the latest approved version of the
respective methodology shall be used;

(c) If the registered GHG project does not meet the applicability conditions, due
to their revision or due to the update of the baseline, the project holder shall
either select another applicable approved methodology or request a
deviation from an approved methodology for the purpose of renewal of the
quantification period.

For other than AFOLU projects, the following also apply:

The project holder shall establish in the updated project description document: the
operational time at the end of the previous quantification period; as well as the
remaining lifespan of the equipment related with the GHG project activity against
the lifespan established at registration time.

If the lifespan established at registration time is finished during the previous

quantification period or will finish during the quantification period during which
the project holder requests renewal; the project holder shall determine the
remaining lifespan of the equipment related with the GHG project activity using
the Tool provided by the CDM Executive Board, specifically they shall use the latest
version of the Tool to determine the remaining lifetime of equipment. The project
holder shall opt to request the renewal of the following quantification periods for
no more than the remaining lifespan.

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Likewise, if the lifespan established at registration time is finished during the
previous quantification period or will finish during the quantification period during
which the project holder requests renewal; the project holder shall reassess the
additionality of the project activity.

The project description, including updated information on the baseline, estimated

GHG emission reductions or removals, and monitoring plan, shall be submitted for
validation. Also, the updated project description shall be validated against the BCR
STANDARD criteria. In addition, the project shall be validated against the most recent
scope of the BCR STANDARD.

Renewal of the quantification period process

Project holder shall notify to BIOCARBON their intention to request a renewal of a

quantification period of the registered GHG project, by submitting an updated PD
and informing of their selection of a CAB, within six (6) months prior to the date of
termination of the current quantification period.

BIOCARBON will inform project holder, in advance of the period for requesting
renewal of the quantification period in accordance with the rules of BIOCARBON. It
remains the responsibility of project holder to ensure that all actions are taken in
accordance with these procedures in a timely manner.

If the notification of the intention to request a renewal of a quantification period is

not received by BIOCARBON, at least six (6) months prior to the date of termination
of the current quantification period, the project holder shall not be entitled to the
issuance of VCCs for the period from the termination date of the current
quantification period until the date on which the quantification period is deemed
renewed.

Evaluation of the request for renewal of a quantification period

Upon receipt of a request to renew a quantification period for a registered GHG

project, BIOCARBON will determine whether all requested information and
documentation has been provided.

The CAB's validation opinion shall include an assessment of the original baseline or
its updated validity through an evaluation of the following issues:

(a) The impact of new relevant national and/or sectoral policies and
circumstances on the baseline considering relevant information with regard
to renewal of the quantification period at the time of requesting renewal of
quantification period;

(b) The correctness of the application of an approved methodology for the

determination of the continued validity of the baseline or its update, and the
estimation of emission reductions for the applicable quantification period.

Once BIOCARBON has determined that the application is complete, it will be posted
on the BIOCARBON website for public comment for a period of thirty calendar days.

20
If there is no request for review within thirty calendar days of the publication of the
request for renewal, the quantification period of the registered GHG project shall
be deemed to be renewed.

The start date of the new quantification period is the first day after the end date of
the previous quantification period.

11.6 Additionality
In order to demonstrate that project activities generate Verified Carbon Credits
(VCC) that represent additional emissions reductions, avoidances, or removals, the
project holder shall follow the guidance provided in BCR's “Baseline and
Additionality Guidelines” 12. The referred guidance contains the additionality and
baseline provisions for the projects, under BCR Standard.

The BCR Baseline and Additionality Guidelines is a mandatory guidance covering

the requirements established to ensure a realistic and conservative estimate of
baseline emissions; it also provides requirements to ensure that activities are
additional in all eligible sectors.

On the other hand, GHG Project holder shall demonstrate that emission reductions
(or removals) do not correspond to emission reductions attributable to the
implementation of legally required actions.

11.7 Compliance with Laws, Statutes and Other Regulatory

Frameworks
The GHG project holder shall demonstrate conformity of the project with all
relevant local, regional and national laws, statutes and regulatory frameworks. In
addition, it shall demonstrate compliance with legislation related to GHG
mitigation activities.

The legal compliance shall include, among others, the laws related to the
protection of human and indigenous peoples’ rights, in accordance with
international regulations, such as the United Nations Declaration on the Rights of
Indigenous Peoples and ILO Convention 169 on Indigenous Peoples.

In this sense, the project holder shall have a documented procedure, the
Documentary Management System. This procedure identifies relevant legislation,
and regulations access them on an ongoing basis, demonstrating that it has a
process for periodically reviewing compliance.

Accordingly, the project holder shall maintain an updated list of all legislative
requirements that apply to its GHG Project activities.

12
[Link]

21
Besides, in compliance with these documented procedures, the GHG Project
holder shall13:

(a) determine and have access to legal and other requirements related to its
activities;

(b) determine how these legal and other requirements applicable to the GHG
Project;

(c) take these legal and other requirements into account when establishing,
implementing, maintaining, and continuously improving its document
management system.

11.8 Climate change adaptation

The Intergovernmental Panel on Climate Change (“IPCC”) defines adaptation to
climate change as “the adjustment in natural or human systems in response to
actual or expected climatic inducements or their impacts that reduces the harm
caused and enhances beneficial opportunities”.

Considering this definition and based on the importance of linking mitigation with
adaptation, jointly with efforts to reduce GHG emissions, GHG Project holder shall
demonstrate actions to reduce or mitigate current and future impacts derived from
climate change and climate variability.

In this sense, in addition to having robust and clear criteria to demonstrate their
contribution to climate change mitigation, project holder shall carry out actions
related to climate change adaptation, demonstrating that these are derived from
the GHG Project activities and so the project holder shall demonstrate that they:

(a) consider one or more of the strategic lines proposed in the National Climate
Change Policies and/or focuses aspects outlined in the regulations of the
country where the project is implemented;

(b) improve conditions for the conservation of biodiversity and its ecosystem
services, in the areas of influence, outside the project boundaries; i.e., natural
cover on environmentally key areas, biological corridors, water management
in watersheds, among others;

(c) implement activities that generate sustainable and low-carbon productive

landscapes;

13
Adapted from ISO 14001. Environmental management systems. Requirements with orientation for their
application.

22
 (d) propose restoration processes in areas of specific environmental
importance;

(e) design and implement adaptation strategies based on an ecosystem

approach;

(f) strengthen the local capacities of institutions and/or communities to take

informed decisions to anticipate negative effects derived from climate
change (recognition of conditions of vulnerability); as well as to take
advantage of opportunities derived from expected or evidenced changes.

For activities in the AFOLU sector, the project holder shall develop either actions or
measures to adapt to climate change, such as:

(a) agricultural, forestry, and fisheries production systems better adapted to

high temperatures, droughts, or floods, to improve competitiveness, income,
and food security, especially in vulnerable areas;

(b) integrated actions that assist in the efficient use of soil, including, i.e., the
conservation of existing natural cover, land use consistent with land vocation
and agroecological conditions, family farming, and agricultural technology
transfer that increases competitiveness by reducing vulnerability to climate
change;

(c) reduction of GHG emissions from agricultural activities, compared to the

non-project scenario (i. e., replacement of pastures for livestock feed and use
of planting methods that reduce emissions from crop management);

(d) actions causally related to climate change adaptation measures, such as use
and management of seeds resistant to temperature change, water
management through rainwater harvesting, recycling, drainage, and
irrigation, reforestation of watersheds to prevent erosion, soil management
with practices that reduce compaction, and techniques to reduce fertilizer
use.

12 Quantification and monitoring of GHG emission

reductions and/or GHG removals
12.1 Conservative approach and uncertainty management
GHG Project holder should establish and apply mechanisms for managing
uncertainty in the baseline quantification and mitigation results.

According to the International Organization for Standardization (ISO), "uncertainty

is the parameter associated with the result of quantification, which characterizes
the dispersion of values that could reasonably be attributed to the quantified
quantity. Uncertainty information generally specifies quantitative estimates of the

23
likely dispersion of values and a qualitative description of the likely causes of the
dispersion"14.

As best practice, the project holder should use national or local values and data
where available. Given this, GHG Project holder may use the IPCC default values if
and only if local or national data (for the type of Project and parameter required)
are not available15. When using default values, to follow the conservative principle,
traditional values of settings should be used16 , for example, by the use of the lower
limit of the range of data as long as it corresponds to the most conservative
assumption17.

Finally, if the Project makes references to external documents susceptible to

updates, such as the IPCC Guidelines for National GHG Inventories, the project
holder shall use the most recent version of those documents.

To manage uncertainty in projects in the AFOLU sector, BIOCARBON determines

criteria and guidelines to comply with the uncertainty management associated
with models to estimate emission reductions / removals in GHG projects18.

If the data and parameters applied to estimate the reduction or removal of GHG
emissions shall be consistent with the emission factors, activity data, projection of
GHG emissions, and the other parameters used to construct the inventory national
of GHG and the national reference scenario. If this is the case, then it is unnecessary
to apply the percentages defined for the discount factor provided in the guidelines
for managing uncertainty.

12.2 Baseline scenario

Project holders shall establish the baseline scenario for the GHG project in
accordance with the selected methodology(ies). As a general principle, national
and/or sectoral policies and circumstances shall be considered in the
establishment of a baseline scenario, without creating perverse incentives that may
impact host Parties’ NDC.

In order to comply with the methodology for GHG emission reductions or removal
activities, GHG project holder shall establish a baseline scenario that represents the
GHG emissions that would occur in the absence of a GHG Project.

14
ISO 14064-2:2019(en)
15
GUIDANCE ON IPCC DEFAULT VALUES (Extract of the report of the twenty-fifth meeting of the Executive Board,
paragraph 59) “The Board agreed that the IPCC default values should be used only when country or project specific
data are not available or difficult to obtain”.
[Link]
16
The conservative principle for a parameter refers to the value that, when used in calculations, is more likely to
result in underestimation rather than overestimation of GHG emission reductions or removals (ISO 14064-2:2019).
17
The conservative principle shall be ensured by the appropriate choice of parameters affecting the project's GHG
emissions, removals, sinks and reservoirs.
18
Contained in the methodological documents, developed by sector or Project type.

24
The definition of this baseline scenario should follow the guidelines outlined in the
BIOCARBON methodological documents and other applicable methodologies, using
the most up-to-date versions available, and:

(a) transparently regarding assumptions, methods, parameters, data sources,

and factors;

(b) considering uncertainty and using prudential assumptions;

(c) specifically, for each GHG Project activity;

(d) considering relevant national as also when applicable to sectoral policies and
circumstances;

(e) maintaining consistency with the emission factors, activity data, projection
variables of GHG emissions, and the other parameters used for the
construction of the baseline scenario;

(f) implementing procedures to ensure data quality under ISO 14064-2 and the
requirements of the selected methodology;

(g) in such a way that no GHG reductions or removals can obtain, due to
decreases in an activity outside the project business;

(h) covering emissions and removals of all gases, defined in the applied
methodologies, included in the project boundary under consideration.

12.2.1 Baseline reassessment

Baseline projections for deforestation and/or degradation, and/or land use changes
beyond a 10-year period are not likely to be realistic because rates of change in land
use change are subject to many factors that are difficult to predict over the long
term, hence the need for periodic reassessment of the baseline.

Consequently, for all types of REDD and ARR projects, the project holder shall, for
the duration of the project, reassess the baseline every 10 years and submit it for
validation with subsequent verification.

The following applies to the baseline reassessment:

(a) The reassessment should consider changes in the drivers and/or the
behavior of the agents causing the land use changes, as well as all the
parameters used to estimate the baseline scenario;

(b) The results of the signaled (above) shall be considered for the
adjusted/updated estimates of land use change, patterns of change, and
baseline scenario estimates;

(c) The latest approved version of the methodology or its replacement shall be
in use at the time of the baseline reassessment;

25
 (d) The project document shall be updated at the time of the baseline
reassessment to reflect actual requirements and the current version of the
BCR STANDARD.

12.3 Leakage and non-permanence

Project holders shall calculate and monitor leakage, in accordance with the applied
methodology, and leakage shall be deducted from the GHG emission reductions
and/or removals of the project.

To address the potential risk of leakage under the GHG PROGRAM, GHG project
holders shall conduct an assessment to identify potential leakage risks and
implement appropriate mitigation measures.

Projects holders shall account for leakage in accordance with the provisions
outlined in the applied methodology specific to each project activity. If the
methodology specifies that leakage is not a significant risk for a particular project
activity, and it is considered de minimal, then quantifying leakage may not be
required.

Conversely, where the applied methodology acknowledges particular leakage risks

relevant for the project activity, and sets out methods for quantifying such leakage,
project holders are required to follow such methods and deduct from their
accounting emissions any identified leakage.

Where applicable, the project holder shall describe the leakage management plan
and the implementation of leakage and risk reduction measures.

GHG projects shall use mechanisms for managing the risk of leakage, taking
account the established in the methodological documents of BCR STANDARD.

Likewise, the GHG project holder shall ensure the permanence of the project
activities to quantify GHG reductions or removals in accordance with the terms and
conditions established by the GHG PROGRAM.

In this sense, the project holder shall demonstrate that take actions to ensure the
project benefits are maintained over time. For this, the GHG Project holder shall
apply BIOCARBON’S “Permanence and Risk Management”19 Tool.

The project monitoring, through verifications, shall evaluate the permanence of

project activities.

Additionally, the BCR Standard considers the validity of the VCC as follows:

(a) VCC issued for projects in the energy, transport and waste sectors expire 3
years after the end of the quantification period of the GHG Project.

19
Available in [Link]

26
 (b) VCC issued for a project in the AFOLU sector expire 5 years after the end of
the quantification period of the GHG Project.

Where applicable, the Project holder shall describe the leakage management plan
and the implementation of leakage and risk reduction measures.

12.4 Mitigation results

The GHG Project proponents shall ensure that GHG mitigation results, obtained
because of their implementation, are verifiable within the framework of ISO 14064-
3:2019 or those norms that update it.

13 Carbon ownership and rights

Carbon rights refer to the ownership of verified carbon credits (VCC) as well as the
rights to benefits from the sale of credits or other payments or interests received
from GHG emissions reductions or removals. That is, carbon rights provide the right
to benefit from GHG emission reductions or removals. To demonstrate full legal
ownership of VCCs, the GHG project holder shall provide evidence of their
ownership.

To ensure transparency, carbon rights shall be supported by evidence of a process

based on free, prior, and informed consent (FPIC) in cases where the project is
located on ancestral land or uses resources within an indigenous population’s
territory. On this basis, the project holder shall respect the rights of interested
parties to participate in and consent to consultation as part of project design and
implementation.

In cases where the project involves activities in the territories of indigenous people
(IP), ethnic groups, and/or local communities (LC), the project holder shall
guarantee respect for their rights and follow the procedures outlined in the
applicable legislation. Especially when IPs and LCs are not project participants, i.e.
when the project participants are a person or organization other than the IPs or
LCs, the project holder shall first obtain certification from the corresponding
authority to determine if there are any IP and LC in the project area. If there are,
then the Fundamental Right to Prior Consultation shall be guaranteed, when
applicable.

The GHG Project holder shall demonstrate carbon rights, with agreements and
documents that ensure this requirement is met, including at least the following
information:

(a) parties who sign the agreement(s);

(b) agreement objectives;

(c) agreement date;

(d) name of the GHG Project;

27
 (e) period of quantification of GHG reductions/removals;

(f) responsibilities, obligations, and rights of each of the signatory parties.

In the event that the project includes IP or LC as participants, the project holder
shall present proof that the person signing the documents, within the scope of the
project, is the person with the authority in charge to do so. If the project holder is
an IP or LC, the documentation shall be submitted by the authority that
legitimately represents the community.

In all cases, the GHG project holder shall implement transparent agreements that
include provisions for fair and equitable compensation.

These agreements should outline the responsibilities and obligations of all parties
involved in the project. By ensuring transparency, stakeholders can have a clear
understanding of the project's objectives, timelines, and potential impacts. This
transparency fosters trust and accountability among all parties, promoting a more
collaborative and effective approach to addressing GHG projects.

The project holder shall describe the procedures followed to agree on benefit-
sharing arrangements with all project participants. Where applicable, the project
holder should demonstrate that such agreements have been duly established with
project participants and that the terms and conditions have been communicated
in a culturally appropriate manner.

13.1 Land Ownership

In some cases, carbon rights are together with other ones, such as land tenure
rights, i.e., in the AFOLU sector projects. The requirement related to this aspect is
described in detail below.

In the case of AFOLU projects, the GHG Project holder shall demonstrate land
tenure, as provided for in applicable national regulations.

The project holder shall demonstrate that he or she holds land tenure on the
property where the project activities are taking place, at least during the period of
quantification of GHG reductions or removals. If the project holder does not
represent the "landowner" he shall demonstrate that he has an agreement with the
holder of the land tenure right.

14 Risk Management
The GHG Project holder shall assess the risks related to the implementation of
project activities in the environmental, financial and social dimensions.

Based on the identification of risks in these three dimensions, the project holder
shall design measures to manage the risks, so that the reduction or removal of GHG
emissions are maintained during the quantification period of the project.

In this regard, the project holder shall:

28
 (a) identify the potential natural and anthropogenic risks that GHG mitigation
actions may face and determine the measures necessary to mitigate such
risks;

(b) identify potential financial risks related to expected costs and investments,
as well as project cash flows and define the necessary measures to mitigate
financial risks;

(c) determine, in the medium and short term, the risks associated with the
participation of IPs and LCs and stakeholders in the activities proposed by
the project holder.

The GHG Project holder shall use appropriate methodologies to carry out the
assessment of the expected risks (direct and indirect) and consider mitigation
measures, within the framework of adaptive management.

Adaptive management is a process by which project actions can be adapted to

future conditions to ensure the achievement of the proposed objectives. It is a
structured decision-making process that considers the impact variables in order to
reduce the uncertainty of the results.

This requisite shall complement BioCarbon’s Sustainability Development

Safeguards (SDSs) tool. It will come into play for the GHG project holder to identify
additional risks related to the project activities beyond those listen in the
mentioned tool.

Finally, taking into consideration the above, risk assessment and management
shall be adequate, accurate and objective. In this sense, BIOCARBON’S “Permanence
and Risk Management” Tool shall be applied.

14.1 Reversal Risk Management

The GHG project holder shall demonstrate the actions taken to ensure that the
project is maintained over time, by including clauses or provisions focused on this
objective in the agreements or contracts, or by implementing a management plan
associated with the risk of reversal.

In consequence, by following these requirements, projects holders can maintain

transparency, accountability, and environmental integrity in managing and
addressing any adverse events that may impact their mitigation results.

14.1.1 Reserve percentage and reserve accounts

AFOLU projects

In any case, for the AFOLU projects, during each verification registration, the system
automatically discounts a reserve of 20% of the total quantified GHG emission
reductions or removals for each verified period.

Any reserve of credits is calculated and deducted from the issuance total, ensuring
a permanent reserve of credits for a project in the event of a reversal. 10% for this

29
discount is placed in a reserve account specifically designated for that project. The
remaining 10% of VCC generated during the verification process will be placed in a
General Reserve Account in BIOCARBON’S registry.

At the end of the quantification period, when the last verification process is
complete, any remaining reserve funds in the project’s reserve will be transferred
to a general reserve account called the BCR Reserve. In this account, the VCCs are
kept to account for any potential reversals in the future.

Verified Carbon Credits placed in the project reserve account may be released and
placed on the market at a later verification, if and only if the GHG Project remains
under the BCR Standard and active in BIOCARBON s registry. Provided that there has
been no cancellation of such credits, as described below.

This approach aims to maintain a balance between the reserve in the general
reserve account and the credits deducted from all AFOLU projects, ensuring
environmental integrity.

This balance assures that the total number of Verified Carbon Credits (VCCs) issued
by projects experiencing reversals does not exceed the cumulative sum of reserves
and credits deducted. This approach reduces the risk of reversals and supports the
credibility of GHG projects within the AFOLU sector.

Moreover, in order to assure that all necessary previsions have been taken for
reversal risk management, the CAB shall demonstrate that it has assessed the risks
derived from its validation or verification activities. Also, adequate arrangements to
cover the responsibilities derived from its activities of validation or verification in
the geographic areas it operates.

In this sense, the CAB shall submit proof of having civil liability insurance. Hence,
the CAB shall have civil liability insurance covering responsibility for validation and
verification processes.

Other projects than AFOLU sector

In any case, for the projects in sectors energy, waste and transportation, during
each verification registration, the system automatically discounts a reserve of 10%
of the total quantified GHG emission reductions for each verified period. This
percentage of the VCC generated during the verification process will be placed in
the General Reserve Account in the BIOCARBON.

14.1.2 Lost Event Report

In all cases, if an event occurs that means loss or decrease of the VCCs issued and
registered in the registry platform, the project holder shall inform and provide a
report to BIOCARBON within a period of no more than one year after the event
occurred. Once BIOCARBON receives such report and examines the veracity and
timeliness of the information, if applicable, it will retire the related amount from the
Reserve Account in the registration system and issue a retirement statement,
which will be sent to the project holder.

30
The lost event report shall include a conservative estimate of the loss of previously
verified emission reductions/removals due to losses in carbon stocks from the
project, based on monitoring report. The project holder shall demonstrate that the
loss estimate is true and accurate in all material aspects.

Where a loss event report is not submitted within one year of the date the loss
event occurred, the project shall no longer be eligible to issue VCCs.

14.1.3 Procedures for holding and reserving credits

The reserve accounts serve as a guarantee to replace any lost VCC due to
unforeseen events that may require the replacement of credits already sold in the
market. BIOCARBON will periodically review and adjust this percentage as necessary.

Where a loss event or a reversal occurs, the project holder shall comply with the
following for reporting a loss event:

(a) in all cases where an event occurs that results in the loss or decrease of the
VCCs issued and registered in the registry platform, the project holder shall
inform and submit a report to BIOCARBON using the Loss Event Report
Template, including an estimate of the loss in carbon stocks;

(b) the loss event report shall be submitted within one year of the loss event. If
a loss event report is not submitted within one years of the loss event, the
project will no longer be eligible to issue VCCs;

(c) reserve credits are permanently deducted from the total eligible units to be
issued for the verification period;

(d) reserve credits are retired to cover known or presumed lost carbon, VCCs
already issued to registered projects that subsequently experience a reversal
are not retired and do not need to be retired.

During the monitoring and verification period, subsequent to the loss event, the
monitoring report shall reflect the loss from the loss event and calculate the net
GHG benefit for the monitoring period in accordance with the methodology
applied.

Finally, BIOCARBON has the responsibility to ensure and confirm that such reversals
are fully compensated upon notification in a manner prescribed by the above-
described procedures.

15 Sustainable development safeguards (SDSs)

The project holder shall demonstrate that the project activities do not cause any
net harm to the communities and/or environment by addressing potential risks
related to environmental and socio-economic safeguards that may arise during
implementation of the project activities. To support this, the project holder shall

31
apply BioCarbon’s SDSs tool20 (formerly known as the No Net Harm Environmental
and Social Safeguards NNH) and demonstrate preventive and mitigation measures
for each potential risk.

The SDSs tool provides the requirements and rules for projects to examine and
address the risks related to:
(a) Land use: Resource Efficiency and Pollution Prevention and Management;
(b) Water;
(c) Biodiversity and ecosystems;
(d) Climate Change;
(e) Labor and Working Conditions;
(f) Gender equality and women empowerment;
(g) Land acquisition, Restrictions on Land Use, Displacement, and Involuntary
Resettlement;
(h) Indigenous Peoples and Cultural Heritage;
(i) Community and Health and safety;
(j) Corruption; and
(k) Economic Impact.

16 Stakeholder engagement and consultation

Ensuring the active participation of local communities in the design and
implementation of projects is an important element in the BCR Standard. The
community involvement is critical to the success and the projects permanence.

To this end, BioCarbon’s policies and procedures include: (a) engaging with
community members from the outset to understand their priorities and concerns,
(b) participatory decision-making, (c) training and resources to empower
community members to actively participate in the project activities, (d) respecting
and incorporating local customs, traditions, and knowledge into project design and
implementation. These issues contribute to building more sustainable and
impactful results.

The project holder shall guaranty the participation of the local communities, acting
as participant project, in the design and implementation of the project activities.

BIOCARBON recognizes Indigenous Peoples (IPs) and Local Communities (LCs) as

crucial stakeholders and important ‘administrators’ of Nature and natural

20
[Link]

32
resources. Project holders shall recognize the capacities of IP not only in
biodiversity conservation but also in managing ecosystem assets and services.

In this sense, the project holder shall conduct a comprehensive assessment and
understand the various individuals, groups, and organizations that that may be
impacted by the project activities.

This assessment involves gathering information about the stakeholders, such as

their interests, concerns, and potential influence on the project. The project holder
may use various methods to conduct this assessment, including surveys,
interviews, and focus groups.

These methods allow them to gather valuable insights and perspectives from the
stakeholders, enabling them to make informed decisions and develop appropriate
strategies to address any potential issues or conflicts. Furthermore, the assessment
may also involve analyzing the stakeholders' level of involvement and their
potential roles in the project. This information can help the project holder to
determine the most effective steps to engage and communicate with the
stakeholders throughout the project length.

By conducting a comprehensive assessment of the stakeholders, the project

proponent can ensure that their interests are considered, potential risks are
identified, and appropriate mitigation measures are put in place. In this regard, the
project holder shall comply with the following:

(a) identify any legal or traditional land tenure, including collective and/or
conflicting rights held by stakeholders;

(b) identify stakeholders who may be impacted by the project and provide a list
of them;

(c) describe the social, economic, and cultural diversity among stakeholders, as
well as the differences and interactions between them.

(d) any substantial changes expected in the representation of stakeholders over

time;

(e) any expected changes in stakeholder well-being and other characteristics,

including the impact on resources that are significant to them;

(f) The location of stakeholders, IPs, LCs, customary rights holders, and areas
beyond the project boundaries, that may be affect by the project.

The project holder shall establish appropriate mechanisms for stakeholders to

comment on the project and demonstrate how stakeholders are appropriately
engaged.

The project description should include information about stakeholders’

engagement.

33
16.1 Stakeholders’ consultation
The GHG Project holder should carry out a stakeholder consultation before
validation, in order to provide information on the project’s activities, design and
facilitate access to all information related to the project's potential environmental
and social effects.

The stakeholder consultation scope should include a description of the potential

effects (positive and negative) of the project and the considerations of the
stakeholder comments.

About the participants in the local stakeholder consultation, GHG Project holder
should invite, as a minimum, representatives of directly affected local stakeholders
and representatives of local authorities relevant to the project activities.

The GHG Project holder should provide evidence that sent invitations to
stakeholders and that their feedback and comments were carefully analyzed and
considered. If any of the relevant stakeholders did not receive an invitation, the
project holder should provide appropriate justification.

16.2 Public Consultation

The projects are open for comments for a period of 30 calendar days. The start date
of the consultation for comments corresponds to the day on which the project
holder requests the project/verification registration.

The interested party shall submit the comments filling out the format on the
website. The project documentation is public and can be accessed in the project
section. The request shall be complete and accompanied by the sender's
information (name, organization and e-mail).

At the end of the public consultation period, BIOCARBON will send the comments
received to the project holder.

Once comments are received, the project holder shall consider all comments
received during the consultation period. If applicable, it shall adjust the project
design or demonstrate that the comment is not relevant.

For its part, the Conformity Assessment Body shall demonstrate that it has
examined all information related to the stakeholder consultation and include a
conclusion on this in the validation report.

The public registry contains a section called Public Comment, which includes the
results of the public consultation period.

17 Sustainable Development Goals (SDG)

The GHG Project shall encourage climate action, based on sustainable
development and the common benefit. To this end, GHG Project holder shall assess
how the GHG Project contributes to the Sustainable Development Goals (SDGs).

34
The 17 objectives of sustainable development include recognition and efforts
regarding fundamental rights and actions to improve well-being and quality of life,
such as food security, healthy living, education, gender equality, access to water
and energy, economic growth, and sustainable use of ecosystems and peaceful
societies.

To demonstrate compliance with this requirement, project holder shall

demonstrate the contribution of the project, determining for example, whether the
project activities contribute positively to actions such as:

(a) To reduce the proportion of men, women, and children of all ages living in
poverty in all dimensions according to national definitions;

(b) To ensure that all men and women, particularly the poor and vulnerable,
have equal rights to economic resources and access to essential services,
ownership, and control of land and other property;

(c) To improve agricultural productivity and the income of small-scale food

producers, women, indigenous peoples, family farmers, livestock, and fishers;

(d) To ensure the sustainability of food production systems and implement

resilient agricultural practices that increase productivity and production,
contribute to the maintenance of ecosystems, and strengthen adaptive
capacity;

(e) To achieve universal sanitary coverage, including protection from financial

risks, access to quality essential health services, and access to safe, effective,
affordable, and quality medicines and vaccines for all;

(f) To reduce the number of deaths and illnesses caused by hazardous

chemicals and by pollution and contamination of air, water, and soil;

(g) To ensure the full and active participation of women and equal opportunities
for leadership at all levels of decision-making in political, economic, and
public life;

(h) To give women equal rights to economic resources, as well as access to

ownership and control of land and other property, financial services,
inheritance, and natural resources;

(i) To support the efficient use of water resources and ensure the sustainability
of freshwater extraction and supply to address water scarcity;

(j) To provide full and productive employment and decent work for all women
and men, including young people and persons with disabilities, and equal
pay for work of fair value;

35
 (k) To protect labor rights and promote a safe and secure working environment
for all workers, including migrant workers, migrant women, and persons in
precarious employment;

(l) To promote inclusive and sustainable industrialization and significantly

increase the industry's contribution to work and gross domestic product
under national circumstances.

Project holder shall demonstrate the contribution of the project to the relevant
Sustainable Development Goals. In order to assess the contribution to the
Sustainable Development Goals (“SGDs”), the project holder shall apply the
BIOCARBON SDG Tool available at [Link]
content/uploads/BCR_SDG-[Link].

18 REDD+ Safeguards
The implementation of REDD+ activities can generate benefits for communities
and the environment and reduce GHG emissions. However, there may be some
social and environmental risks associated with their implementation.

In this sense, REDD+ safeguards are measures aimed at preventing the impairment
of fundamental social, economic, or environmental rights and the occurrence of
negative impacts from the design and implementation of REDD+ activities. It also
includes measures to improve the obtainment and distribution of benefits
generated by REDD+ activities.

In undertaking the actions referred to in paragraph 7021 of the Report of the

Conference of the Parties on its 16th session, held in Cancun from 29 November to
10 December 2010, and the Decision 17/CP.2122, the project holder should promote
and respect the following safeguards for REDD+ projects:

(a) That actions complement or are consistent with the objectives of national
forest programs and relevant international conventions and agreements;

(b) Transparent and effective national forest governance structures, considering

national legislation and sovereignty;

(c) Respect for the knowledge and rights of IPs and LCs, by considering relevant
international obligations, national circumstances and laws, and noting that

21
Encourages developing country Parties to contribute to mitigation actions in the forest sector by undertaking
the following activities, as deemed appropriate by each Party and in accordance with their respective capabilities
and national circumstances: (a) Reducing emissions from deforestation; (b) Reducing emissions from forest
degradation; (c) Conservation of forest carbon stocks; (d) Sustainable management of forests; (e) Enhancement of
forest carbon stocks. Available in: [Link]
22
[Link]

36
 the United Nations General Assembly has adopted the United Nations
Declaration on the Rights of Indigenous Peoples;

(d) The full and effective participation of relevant stakeholders, in particular IPs
and LCs, in the actions referred to in paragraphs 70 and 72 of this decision23;

(e) That actions are consistent with the conservation of natural forests and
biological diversity, ensuring that the actions referred to in paragraph 70 of
this decision24 are not used for the conversion of natural forests, but are
instead used to incentivize the protection and conservation of natural forests
and their ecosystem services, and to enhance other social and
environmental benefits;

(f) Actions to address the risks of reversals;

(g) Actions to reduce displacement of emissions.

These seven safeguards are a set of general principles and individual countries are
responsible for interpreting their scope, according to their own national context.
Consequently, the REDD+ project holder shall demonstrate compliance with the
aforementioned REDD+ safeguards, considering the national context and
including the definition of indicators for monitoring, reporting, and verification.

The BCR Standard comprises a REDD+ Safeguards (or Cancun Safeguards)

interpretation tool for REDD+ project holder to demonstrate compliance with
REDD+ safeguards.

In this sense, the proposed interpretation shall be mandatorily applied by the

project holder and the Conformity Assessment Bodies for the implementation,
validation and/or verification of REDD+ projects that are structured and developed
under the BCR Standard.

The project holder shall apply the REDD+ Safeguards25. However, whether the host
country has a national interpretation related to Safeguards, it is required the
compliance of said interpretation.

19 Special categories, related to co-benefits

Generally, actions related to climate change mitigation bring additional benefits to
reducing or removing GHG emissions. In this regard, the IPCC (2007)26 notes that
the term co-benefits "reflects that most policies designed to address greenhouse

23
Decision 1/COP.16
24
Ibid, p. 29
25
[Link]
26
Climate Change 2007: Working Group III: Mitigation of Climate Change

37
gas (GHG) mitigation also have other, often at least equally important,
justifications involved in the adoption of those policies."

In the framework of this Standard, the definition and measurement of co-benefits

is not a mandatory requirement. However, GHG Project holder can demonstrate
that their projects provide additional benefits for the society or environment if they
have confirmed a model of criteria and indicators to verify the measurement and
outcome.

Co-benefits can be divided into three additional benefits: biodiversity conservation,

community benefits and gender equity. The GHG Project holder shall comply with
the conditions defined for each of the three categories to constitute the project’s
additional benefits. The categories and conditions required to obtain a class are
outlined in section 19.1.

The GHG Project holder should propose a model of criteria and indicators that
would monitor each of the conditions and demonstrate compliance with them. The
monitoring plan should include a section that provides for the measurement and
tracking of co-benefits.

38
19.1 Special categories components

19.1.1 Biodiversity conservation

When apply, the GHG Project holder should demonstrate that the project:

a) develops practical actions and measures to halt the loss of biological

diversity, enabling ecosystems to continue to provide essential services;

b) sets objectives and activities in support of the Aichi Targets27 for Biodiversity;

c) demonstrates which High Conservation Values (HCV) are in the project

area28;

d) demonstrate the no presence of invasive species as a result of the project

activities;

e) demonstrates that the project area is in areas where globally threatened

species are present (according to the UICN Red List29) and that the GHG
Project is taking action to conserve these species;

f) incorporates, in its administration and management systems, the

traceability of raw materials from biodiversity.

19.1.2 Community Benefits

The benefits of communities should be real actions that create public value and
local development, emphasizing improving life quality of the communities. This
criterion does not consider generating employment as a co-benefit.

The holder of the GHG Project demonstrate that:

(a) identifies and strengthens mechanisms for social and community

participation, at the local and regional levels;

(b) implements sustainable production systems, combining production and

conservation actions to generate local development;

(c) considers pre-existing social conflicts and supports the development of

efficient models with the management of post-conflict scenarios;

(d) the project creates short and long-term benefits to small-scale productive
projects with community members in the project area;

27
[Link]
28
Based on criteria defined by the High Conservation Value (HCV) network. [Link]
29
[Link]

39
 (e) generates actions that improve the capacities and access to opportunities of
community groups in vulnerable situations;

(f) defines possible impacts on cultural, archaeological, or historical heritage

and describes measures to prevent or mitigate such effects;

(g) Under the GHG Project, activities produce an average net increase in the
income of local, low-income producers.

19.1.3 Gender Equity

According to the Food and Agriculture Organization of the United Nations (“FAO”),
it is clear that "climate change has a more pronounced impact on women,
especially indigenous and peasant women whose agricultural dependence, living
conditions and marginalization expose them more to changes in climate, loss of
diversity and pollution.”30

Also, according to López (2017)31, "international agreements on forests, biodiversity,

and climate change mention the need to mainstream gender, all of which is
required by Article 2, which calls on States Parties to appropriate the principle of
equality between men and women (...) to ensure a remedy for discrimination
against women".

In this perspective, the project holder should demonstrate that he considers the
determinants set out in the national gender-related policy framework.

It also demonstrates that it includes among its activities, strategies, or actions that
support the goals related to the SDG "achieving gender equality and the
empowerment of women and girls”, in the applicable context.

19.2 Categories and additional benefits

19.2.1 Category 1. Orchid

Orchids are the most diverse and evolving group of flowering plants on the planet,
with about 25,000 to 30,000 species worldwide, of which 4,270 are native to
Colombia, and 1,572 are endemic. Figure 1 Requirements of the Orchid category
shows the requirements to obtain the Orchid Category.

30
[Link]
31
Salvaguardas y Género - Documento de Recomendaciones. Diana López Consultora de Género para el Programa
ONU REDD Colombia. Marzo de 2017.

40
Figure 1 Requirements of the Orchid category

Source: BIOCARBON, 2022.

19.2.2 Category 2. Wax Palm

The Wax Palm (Ceroxylon quindiuense) grows in one of the most threatened
ecosystems globally, the Tropical Foggy Forest. The Ceroxylon quindiuense palms
constitute one of the most spectacular landscapes of the Colombian Andes.
Despite representing Colombia's national tree, the species was categorized as
endangered (EN) by Galeano & Bernal (2005). Although there are still large
populations in some sectors of the central mountain range, their habitat has been
considerably reduced, and it is estimated that their populations have decreased by
more than 50% in the last three generations (210 years Figure 2 Requirements of
the Wax Palm category shows the requirements to obtain the Wax Palm Category.

41
Figure 2 Requirements of the Wax Palm category

Source: BIOCARBON, 2022.

19.2.3 Category 3. Andean Condor

The Andean Condor (Vultur gryphus), the sun's messenger, is considered the most
giant and most massive flying bird globally32. It is also one of the birds that fly at
the highest altitudes, fly using the vertical thermal updrafts of warm air, and reach
up to 6500 meters of height; then, it can glide for hundreds of kilometers almost
without moving its extended wings. The natural distribution of Andean Condor
covers the Andes Mountains, from southern Tierra del Fuego (Argentina and Chile)
to western Venezuela. One of its significant habitats is in the Colca Canyon (Peru).
The Andean Condor is considered a near-threatened species by the UICN
(International Union for Conservation of Nature), threats to the population include

32
Ministerio de Ambiente, Vivienda y Desarrollo Territorial. Sin fecha. Programa nacional para la conservación del
cóndor andino en Colombia. Plan de acción 2006-2016. 32 pp. In:
[Link]
gestion-de-fauna-y-flora/4023_100909_prog_conserv_condor.pdf

42
habitat loss and secondary poisoning Figure 3 Requirements of the Andean Condor
the requirements for the Andean Condor category.

Figure 3 Requirements of the Andean Condor

Source: BIOCARBON, 2022.

20 Grouped Projects
GHG projects may be developed as grouped projects. Grouped projects are GHG
projects which can be expanded after the validation for example through the
addition of new areas (in the case of projects in the AFOLU sector) and instances (in
the other sectors). In this case, projects can expand without the need for a new
validation of the project description. These projects shall comply with the
conditions for grouped projects described below.

20.1 Activities in the AFOLU Sector

Activities classified as GHG removal activities and REDD+ projects may add areas to
the Project (after validation). To do so, the project holder shall:

(a) identify the expansion area of the Project during the validation process and
define the criteria for the addition of the new regions;

43
 (b) comply with the guidelines of the BCR Standard, in its most recent version;

(c) comply with all the provisions of the BIOCARBON methodological documents
that apply in their latest release;

(d) include emission reductions or removals only for validated project activities;

(e) implement the GHG emission reduction or removal activities described in

the validated project document;

(f) demonstrate that baseline scenario, land tenure, and additionality

c00onsiderations are consistent and valid for the new areas;

(g) provide evidence of the start date of activities in the new areas,
demonstrating that this date is later than the starting date of the project
activities in the areas included in the validation;

(h) in the case of REDD+ projects, further, demonstrate that the drivers of
deforestation/degradation and the baseline scenario are consistent with the
validated characteristics for the initial project areas;

(i) Similarly, for REDD+ projects, considering that in some cases, the leakage
belt may overlap with the validated expansion area, the project holder shall
update the leakage belt to include potential displacement of
deforestation/degradation by the implementation of the REDD+ project
activities.

20.2 Activities in the energy, transportation, and waste sectors

Similarly, GHG Project holder that involve activities in those sectors may develop
grouped projects. To this end, they shall meet the following requirements:

(a) identify, during the validation process, the geographical area(s) within which
(initial33 and additional) instances of the project are developed and define the
criteria for the addition of new cases;

(b) comply with the guidelines of the BCR Standard, in their most recent version;

(c) comply with all the provisions of the BIOCARBON methodological documents
they apply, in their latest release;

(d) include emission reductions only for validated project activities;

33
The initial instances are those included in the project description during validation.

44
 (e) implement the GHG emission reduction activities described in the validated
project document;

(f) demonstrate that the new instances meet the conditions of applicability
described in the methodology applied;

(g) demonstrate that geographic areas (to be included in project boundaries) in

which there are no initial instances are subject to the same baseline scenario
conditions and additionality as the areas in which are the initial instances;

(h) provide evidence of the start date of activities in the new instances,
demonstrating that this date is later than the start date of the GHG emission
reduction activities in the cases included in the validation (initial instances);

(i) the baseline scenario shall be determined for each instance, in accordance
with the applicable methodology;

(j) additionality shall be assessed at the instance level as required by the

applicable methodology. Within the eligibility criteria set at the time of
registration for the inclusion of new project activity instances, criteria
regarding the additionality requirements for inclusion shall be defined;

(k) confirm that each instance complies with all methodology applied
provisions, including the capacity limits set out in the methodologies
applicable to the project type.

New instances shall be validated against the applicable set of eligibility criteria. The
CABs shall specify whether the new instances meet the eligibility criteria for
inclusion in the project. Such validation may be reported in the verification report
or a separate validation report.

The BIOCARBON methodological documents can also provide additional

specifications for grouped projects.

21 Monitoring Plan
As part of the project document, project holder shall submit a monitoring plan that
contains the following:

(a) necessary data and information to estimate GHG reductions or removals

during the quantification period;

(b) data and supplementary information for determining the baseline or

reference scenario;

(c) specification of all potential emissions that occur outside the project
boundaries, attributable to the activities of the GHG Project (leakage);

(d) information related to the assessment of environmental and social effects of

the project activities;

45
 (e) procedures established for the management of GHG reductions or removals
and related quality control for monitoring activities;

(f) description of the methods defined for the periodic calculation of GHG
reductions or removals and leakage;

(g) the assignment of roles and responsibilities for monitoring and reporting the
variables relevant to the calculation of reductions or removals;

(h) the related procedures whit the assessment of the project contribution whit
the Sustainable Development Goals (SDGs);

(i) criteria and indicators related to the contribution of the project to

sustainable development objectives;

(j) the participation of the communities, as project participant, in the project

design and implementation;

(k) detailed information necessary for monitoring project activities, assessing

mitigation and preventive results and quality control of measurements and
quantification related to the Sustainable Development Safeguards (SDSs)
tool assessment;

(l) procedures associated with the monitoring of co-benefits of the special

category, as applicable;

(m) criteria and indicators defined to demonstrate the additional benefits

and measurement of co-benefits and the specific category, as applicable.

The monitoring plan shall base on a monitoring methodology approved within the
framework of the methods referred to in section 10 and the following:

(a) national circumstances and the context of the GHG Project;

(b) monitoring good practices, adequate for the follow-up, and control of the
activities of the GHG mitigation effort;

(c) procedures to ensure data quality under ISO 14064-2

The GHG Project holder shall demonstrate that the GHG emission
reduction/removals are quantified, monitored, reported, and verified, through
application of BIOCARBON’S “Monitoring, reporting and verification (MRV)” tool.34

34
[Link]

46
GHG Project holder shall execute the monitoring plan validated by the CAB.
Execution of the approved monitoring plan and, where appropriate, its
modifications, shall be a requirement for verification.

During the verification process, the project holder shall submit the report under the
monitoring plan. Any revisions to the monitoring plan, either to increase its
accuracy or information completeness, shall be justified and submitted to the CAB.

The OEC, based on the execution of the monitoring plan and the assessment of the
estimated GHG emission reductions/removals and the baseline scenario, shall
determine that these have been calculated in accordance with the methodology
used by the GHG Project holder.

22 Validation and verification

Project holder shall ensure that the validation and verification processes are carried
out by an accredited and independent third-party. They shall confirm that the CAB
meets all accreditation requirements with the authorities defined in this
document.

The start of the project validation process should take place at the times set out in
section 11.4 of this document. Verifications may be annual but shall be carried out
every 5 years at the most for projects in the AFOLU sector and every 3 years for
projects in sectors other than AFOLU.

CABs are responsible for conducting an objective assessment and issuing a

validation or verification statement concerning the information submitted to them
by the project holder and other criteria defined by the BCR STANDARD.

The scope of validation, and when applicable, of verification, shall include the
following:

(a) the boundaries or scenarios of the GHG Project and its baseline scenarios;

(b) physical infrastructure, activities, technologies, and processes of the GHG

organization or Project;

(c) GHG sources sink as also when applicable to reservoirs;

(d) types of GHGs;

(e) areas or instances of the Project if it is a grouped project;

(f) quantification periods;

(g) evaluation of co-benefits;

(h) indicators related to DSGs;

(i) the monitoring plan.

47
The CAB should examine the data and information on GHGs, to develop evidence
to evaluate the Project's GHG statement. This review should follow a sampling plan.

The CAB shall confirm whether the GHG Project meets the validation or verification
criteria defined by this Program.

When assessing the material discrepancy, the CAB should consider the principles
of the standards (ISO or those that apply) or the BCR STANDARD.

Validation and verification of grouped projects shall include analysis of the Project's
conformity with bundled projects' requirements under the BCR STANDARD.

22.1 Validation
Validation is a systematic, independent, and documented process. This process
assesses a GHG Project activities and baseline against defined criteria to verify that
it meets the requirements specified current regulations, as stipulated by the BCR
STANDARD.

When GHG Project holder request validation of the project, they shall submit a GHG
declaration to the CAB. They shall provide all information required by the CAB to
carry out the validation process.

The validation and verification body, contracted by the GHG Project holder, shall
evaluate the documentation and information related to the design of the project
and shall determine whether the project holder complies with all the provisions of
this Standard and the others that apply to it, examining, among other aspects, the
following;

(a) GHG mitigation goals and results;

(b) the adequate use of an appropriate methodology;

(c) the assessment of uncertainty and conservative approach;

(d) the baseline scenario and reference levels;

(e) compliance with the additionality criteria of the GHG Project;

(f) ownership and rights over carbon;

(g) assessment of environmental and social aspects and sustainable

development safeguards;

(h) criteria and indicators relating to co-benefits;

(i) project's contribution to sustainable development goals;

(j) stakeholder's consultation;

(k) compliance with national legislation;

48
 (l) monitoring plan for quantification and monitoring of GHG emission
reductions or removals under the selected methodology.

Similarly, the CAB shall do the validation process under guidelines established by
the GHG mitigation mechanisms or the ISO 14064-3 standard.

Once it ends the information assessing and carried out all necessary procedures,
the CAB shall inform the project holder of its decision to validate the GHG Project.
The notification to the project holder should include:

(a) the confirmation of the validation and the date of submission of the
validation report to the GHG PROGRAM, or

(b) an explanation of the reasons for rejection if the project, judging from the
documentation, does not qualify for validation.

If the CAB determines that the GHG Project meets all certification requirements, it
shall submit a validation report's registration request. That report shall include the
project document and project design documentation, either the quantification of
GHG emission reductions or removals and, where appropriate, the conclusion on
co-benefits (if applies) and the compliance with the indicators defined by the
project holder concerning the ODSs.

22.2 Verification
Verification is the systematic, independent, and documented process for assessing
the GHG Declaration against the verification criteria.

As per the provisions of ISO 14064-3, the CAB should consider the following:

(a) conformity with applicable verification criteria, including the principles and
requirements of BCR STANDARD in the scope of verification;

(b) information and documentation on GHG Project planning, including

procedures and criteria for the project, baseline, sustainable development
safeguards, quality control and assurance, risk management, monitoring,
and reporting;

(c) any significant changes, since the last reporting period or its validation, in
the methods or principles of the GHG Project;

(d) emissions, removals, emission reductions, and removal enhancements

reported in the baseline and the GHG Project;

(e) any significant changes in GHG emissions removals, emission reductions,

and removals improvements since the last reporting period or since the
Project's validation.

49
22.3 Other considerations for validation and verification
In all cases, the CAB shall consider the following criteria for the validation and
verification of GHG Project:

(a) The level of assurance of the GHG Project verification should not be less than
95%;

(b) The material discrepancy in the data supporting the GHG Project baseline
and the estimate of GHG emission reductions or removals may be up to ± 5%;

(c) The GHG Project baseline shall be consistent with the methodology applied,
as appropriate;

(d) The quantification of mitigation results against the validated baseline shall
follow the provisions of the used methodology, as appropriate;

(e) It includes co-benefits and sustainable development objectives evaluation.

22.4 Validation or verification statement

Once validation or verification is complete, the CAB shall issue the corresponding
declaration, which shall comply with the following:

(a) addresses the intended users of the GHG declaration;

(b) describes the level of assurance of the validation or verification statement;

(c) describes the objectives, scope, and criteria for validation or verification;

(d) explains whether the data and information supporting the GHG declaration
are hypothetical, projected as also when applicable to historical;

(e) is accompanied by the GHG statement made by the responsible party;

(f) includes the CAB's conclusion on the GHG declaration, including any
qualifications or limitations;

(g) adds conclusions on criteria and indicators related to co-benefits, and;

(h) includes a judgment on the project's contribution to sustainable

development objectives.

23 Conformity Assessment Bodies (CAB)

GHG Project shall undertake validation and verification processes, by an
independent third-party, to ensure that the applied GHG emission reduction or
removal quantification methodologies are verifiable in the framework of ISO 14064-
3.

50
The validation and verification process shall be carried out by a conformity
assessment body accredited by:

(a) an accreditation body that is a signatory member of the International

Accreditation Forum (IAF) that has in its portfolio GHG Emissions Verification
Body accreditation program under the requirements of ISO 14065; or,

(b) the Clean Development Mechanism (CDM) or whoever acts in its stead,
under the requirements of the UNFCCC for Designated Operational Entity
(“DOE”), as appropriate.35

The conformity assessment bodies carrying out validation/verification of GHG

projects shall demonstrate the following:

(a) the scope of their certification includes the project activities subject to the
validation and verification process;

(b) it has enough professionals who demonstrate the necessary ethical conduct
to perform all the functions required for validation and verification;

(c) the designated auditors in charge of validations and verifications have

experience in the sector and type of the project;

(d) has documented internal procedures for the performance of its function. Its
function's methods include allocation of responsibilities within the
organization;

(e) has the appropriate competence to perform the tasks specified in the
applicable legislation and the provisions described in this Standard;

(f) ensures the necessary expertise on environmental issues relevant to the

verification of GHG Project and quality assurance in a conformity
assessment;

(g) has knowledge of the technical aspects of GHG Project and methodologies
for quantification and monitoring of GHG emission reductions and removals,
including competence to assess baselines and national reference levels, as
well as maximum mitigation potentials;

(h) has procedures for handling complaints, appeals, and disputes.

35
This accreditation is valid until December 2024. As of January 2025, all CAB shall be accredited as described in
(a).

51
Furthermore, CABs shall work in an independent, reliable, non-discriminatory, and
transparent manner, respecting applicable national legislation and complying with
the following requirements:

(a) have a documented structure, which protects its integrity, with provisions to
ensure the impartiality of its operations;

(b) have appropriate arrangements to safeguard the confidentiality of

information obtained from GHG Project holder;

(c) demonstrate that they have no actual or potential conflict of interest with
the operators of the GHG Project for whose validation or verification they
carry out;

(d) make available to BIOCARBON, upon request, information obtained from GHG
Project holder. Information classified as confidential shall not be disclosed
without the written consent of the provider unless required by national
legislation;

(e) provides data used to determine additionality, as defined in this Standard, to

select baselines, reference levels, and maximum mitigation potentials, and
its use shall not be considered confidential.

CABs shall issue a verification statement, indicating that the GHG emission
reductions or removals were generated following the guidelines defined in ISO
14064-2 and the results obtained in the verification carried out under ISO14064-3 or
those that adjust and update them.

CABs shall demonstrate an annual internal evaluation to demonstrate knowledge

of BCR Standard and methodologies. In addition, CABs shall provide evidence of
their auditors being experienced in the sector and project type for which they are
assigned and have the appropriate competence, including the proof of permanent
training and upgrades.

24 Project registration and issuance of Verified

Carbon Credits (VCC)
Once the Conformity Assessment Body (CAB) completes the validation process and
submits the validation statement to BIOCARBON. The validation statement certifies
the GHG performance of the project as declared by the project holder.

After the validation process is complete, the verification process takes place. In this
process the CAB verify that the GHG Project has achieved its goals including the
total GHG emission reduction or removal as declared by the project holder. If the
verification process is successful, then the CAB can submit the Verification
Statement to BIOCARBON which includes a justification of the conformity of the GHG

52
Project’s verification ensuring that it complies with all BIOCARBON’s regulations and
application national and international laws.

When the GHG Project has passed the verification process, BIOCARBON will issue
Verified Carbon Credits (VCC). It is important to note that the VCC can only be issues
for projects that have been previously verified by following the ISO 14064 -3
guidelines and the BCR Standard and that the CAB will have carried out the
verification process under the provisions of the GHG PROGRAM Validation and
Verification Manual.

25 Other GHG Programs

GHG projects registered in other GHG programs may apply for registration in
BIOCARBON, as long as they comply with the following conditions:

(a) The project registration has been withdrawn in the registration system of the
program from which the project comes;

(b) The reductions or removals generated by the project are not part of another
registered project, in BIOCARBON or other GHG programs;

(c) GHG Project holder shall demonstrate compliance with the requirements
established in the national legal framework, as well as compliance with the
rules and procedures established by BIOCARBON;

(d) GHG Project shall comply with the "BCR STANDARD OPERATING
PROCEDURES."36

Projects registered under another GHG program with activities that are covered by
the scope of the GHG PROGRAM (see Section 6 above) are eligible for transition to
the GHG PROGRAM only if the project holder completes a validation gap analysis
prior to initiating the listing process37 with the GHG PROGRAM.

This analysis servs to identify any gaps between the requirements of the previous
GHG program and the BIOCARBON GHG PROGRAM, identifying any discrepancies or
areas that need improvement to align the project with the BCR STANDARD and BCR
tools or guidelines. By conducting this analysis, project holders shall ensure that
their projects meet the specific criteria set by the GHG PROGRAM.

36
BIOCARBON CERT® 2023. BCR SOP. STANDARD OPERATING PROCEDURES. Version 1.0. January 13, 2023. Bogotá,
Colombia. 34 P. [Link]
37
Once the validation gap analysis is complete, project holders may begin the listing process with the GHG
program. This process involves submitting the applicable documentation and information to demonstrate that
their projects meet the GHG Program's eligibility criteria (See
[Link]

53
BIOCARBON will then review the submission and determine if the project is eligible
for transition to the GHG PROGRAM.

The following also applies:

(a) For projects in the Agriculture, Forestry, and Other Land Use (AFOLU) sector,
the project shall have been registered under an approved GHG program on
or after 1 January 2015;

(b) For other than AFOLU projects, the project shall have an original project
crediting period start date on or after 1 January 2019 with an approved GHG
program;

(c) BIOCARBON does not issue Verified Carbon Credits for past verification
periods. BIOCARBON will only issue credits after verification conducted
according to the GHG PROGRAM rules and requirements. BCR does not allow
the credit conversions or reissuance of credits for credits issued to projects
registered under an approved GHG program.

The Conformity Assessment Body (CAB) shall carry out the verification in
accordance with the BCR Validation and Verification Manual38. The Verification
Opinion shall include a justification on the conformity of the validation of the GHG
Project, ensuring that it complies with the applicable regulations and the
procedures established by BIOCARBON.

26 Double Counting avoiding

Focused on achieving international targets related to GHG emission reductions and
climate change mitigation, robust and transparent accounting is essential. This will
enable effective assessment of national progress.

In a strict sense, the practice of double counting would result in the overestimation
of benefits to projects and countries and would lead to an erroneous analysis of the
real progress towards meeting this global objective.

Consequently, within the scope of this Standard, "double counting" is defined as

the accounting of a Greenhouse Gas (GHG) mitigation result in tons of CO2e, in the
following scenarios:

(a) a ton of CO2e is counted more than once to demonstrate compliance with
the same GHG mitigation goal;
(b) one ton of CO2e is counted to demonstrate compliance with more than one
GHG mitigation goal;
(c) a ton of CO2e is used more than once to obtain remuneration, benefits, or
incentives;

38
[Link]

54
 (d) one ton of CO2e is verified, certified, or accredited assigning more than one
serial to a single mitigation result.

Accordingly, avoidance of double counting is a requirement that prohibits the

accounting, issuance, and retirement of GHG mitigation results that meet any of
the conditions described above.

The Project holder shall apply BIOCARBON’s “Avoiding Double Counting (ADC)” tool
which sets out the principles and requirements for the GHG PROGRAM, to avoid
double counting of emission reductions or removals39.

27 Changes after the GHG project registration

The project holder of the registered projects shall demonstrate a continuous
improvement of the project, with information of the highest quality, as well as
updated and real. The Project holder shall identify any suggested or implemented
alterations to how the GHG project is carried out, operated, or monitored.

Finally, the project holder shall follow the guidelines contained in section 14.5 in the
Standard Operation Procedures40: “Changes after the GHG project validation”.

28 Registry Platform
BIOCARBON has a public registry that enables the certification and allocation of a
distinctive serial number for verified greenhouse gas (“GHG”) emission reductions
or removals

To carry out registration in the BIOCARBON system, the GHG Project holder shall
provide the following documentation:

(a) information about the Project and the holder of the project;

(b) GHG Registration Authorization;

(c) project Description Document;

(d) report and validation declaration;

(e) monitoring report;

(f) report and verification declaration;

(g) other documents, if required.

39
[Link]
40
[Link]

55
Only the project holder, or whoever is authorized by the holder to carry out the
procedures required for this purpose, can apply for registration of project.

The BIOCARBON allows for the registration of projects after the validation process
has been completed, but it can also be requested before validation. If the Project
holder chooses to carry out the validation and the first verification simultaneously,
the CAB shall issue a single report for both. However, they shall issue the validation
and verification declarations separately.

Projects applying for registration in BIOCARBON may not be registered in any other
registry systems. However, projects registered in other GHG programs may apply
for registration under the BCR STANDARD, as long as they comply with the
conditions established by this standard.

29 Public Information
The information in the registry system of BIOCARBON is public, except for the data
that is classified as reserved by law.

30 Transition plan
GHG Project holder has a thirty-days calendar transition period for using the
updated version, starting from its publication.

If the project holder has already obtained a validation report from the CAB when
an updated version of the standard (or program documents) becomes effective, it
may proceed with the registration process using the version on which the report is
based.

On the other hand, if BIOCARBON establishes new requirements, registered projects

will not have to comply with the new requirements for the remainder of their
quantification period. This means that such projects will remain eligible to issue
VCCs until the end of the quantification period without validation of the new
requirements.

Given that the tools or guidelines are based on existing requirements41, they apply
to all projects, requesting registration of new verifications, when they become
published.

Moreover, BIOCARBON reserves the right to set different transition periods for the
adoption of the new requirements if it determines that a project should comply
with them before the end of its quantification period.

41
In other words, the content of these documents confirms or clarifies existing regulations and procedures.

56
In these cases, projects validated and registered with previous versions of the
standard, are required to conduct a gap analysis, in the verification after the date of
issuance of this version of the standard and comply with the requirements
described in this version of the document.

This applies also for documents referenced in this Standard (methodologies,

guidelines, and tools) as well as other resources that make up the GHG PROGRAM.

57
 ANNEX A. GLOSSARY
OF TERMS 42

42
Some terms and definitions not found in this glossary are contained in the Program documents

58
Accreditation

third-party attestation related to a conformity assessment body conveying formal

demonstration of its competence to carry out specific conformity assessment tasks.
[SOURCE: ISO/IEC 17000:2004, 5.6]; [ISO/IEC 17011:2017(en), 3.1]

Adaptation to Climate Change (Climate change adaptation)

process of adjustment to actual or expected climate and its effects.

Note 1 to entry: In human systems, adaptation seeks to moderate or avoid harm or

exploit beneficial opportunities.

Note 2 to entry: In some natural systems, human intervention can facilitate

adjustment to expected climate and its effects.

[SOURCE: ISO 14090:2019, 3.1]

Adaptive Capacity
ability of systems, institutions, humans, and other organisms to adjust to potential
damage, to take advantage of opportunities, or to respond to consequences.

[SOURCE: Intergovernmental Panel on Climate Change, IPCC Fifth Assessment

Report: Climate Change 2014 (AR5)]; [ISO 14080:2018(en), [Link].]

Adaptive Management
process of iteratively planning, implementing and modifying strategies for
managing resources in the face of uncertainty and change.

Note 1 to entry: Adaptive management involves adjusting approaches in response

to observations of their effects and changes in the system brought on by resulting
feedback effects and other variables.

[SOURCE: IPCC, 2014, ISO 14090:2019(en), 3.3]

Additionality
Is the effect of the GHG Project activity to reduce anthropogenic GHG emissions
below the level that would have occurred in the absence of the GHG Project activity.

In the AFOLU sector, other than REDD+ projects, additionality is the effect of the
project activity to increase actual net GHG removals by sinks above the sum of the
changes in carbon stocks in the carbon pools within the project boundary that
would have occurred in the absence of project activity.

Source: Adapted from Glossary CDM terms. Version 10.0

Agricultural Lands
Agricultural territories are those lands dedicated mainly to the production of food,
fiber, and other industrial raw materials, whether they are useful or not for
cultivation, grazing, rotation, rest, or as fallow. It includes areas devoted to

59
permanent and temporary crops, pasture areas, and different agricultural zones,
where livestock can also share it and agriculture.

Agriculture, Forestry and Other Land Use (AFOLU)

The sector comprises of greenhouse gas emission reductions or removals
attributable to project activities in the agriculture, forestry, and other land uses
sectors.

Agroforestry Culture
Areas occupied by arrangements or combinations of crops of different species, with
others of herbaceous, shrub, or tree habits, where the main characteristic of the
coverage is that the increase in detail does not imply the subdivision into pure units
because these shares the same area, alternated by furrows or rows of trees with
crops or trees with grasses.

Approved methodology
A methodology that has been approved by the BCR Technical Committee for
application to GHG projects, under the GHG PROGRAM. Approved methodologies are
publicly available on the BIOCARBON website ([Link]).

Attestation
issue of a statement, based on a decision, that fulfilment of specified requirements
has been demonstrated.

Note 1 to entry: The resulting statement, referred to in this document as a

“statement of conformity”, is intended to convey the assurance that the specified
requirements have been fulfilled. Such an assurance does not, of itself, provide
contractual or other legal guarantees.

Note 2 to entry: First-party attestation and third-party attestation are distinguished

by the term’s declaration, certification and accreditation, but there is no
corresponding term applicable to second-party attestation.

[SOURCE:ISO/IEC 17000:2020(en), 7.3]

Baseline Scenario
For a project activity (in sectors other than AFOLU), the scenario for the GHG
mitigation project that reasonably represents the anthropogenic emissions by
sources of GHGs that would occur in the absence of the GHG mitigation project
activity.

For an AFOLU project, the scenario for the GHG Project that reasonably represents
the sum of the changes in carbon stocks in the carbon pools within the project
boundary that would occur in the absence of the GHG Project.

Source: Adapted from Glossary CDM terms. Version 10.0

60
BioCarbon’s GHG Program
The GHG Crediting Program managed by BIOCARBON which sets out requirements
and procedures that operationalize the BIOCARBON STANDARD. This enables the
validation of GHG projects, and the verification of GHG emission reductions and
removals.

BioCarbon’s Registry
The electronic database system that records issuance and distribution of VCCs to
project participants. BIOCARBON’s registry is managed and maintained by Global
CarbonTrace.

Carbon Dioxide Equivalent (CO2e)

unit for comparing the radiative forcing of a GHG to that of carbon dioxide.

[SOURCE: ISO 14064-2:2019(en), 3.1.15.]

Carbon credit
Measurable and tradable unit, accounted for a GHG Project. When verified and
listed in the registry system of BIOCARBON , it is called a Verified Carbon Credit (VCC).
It is equivalent to one metric ton of carbon dioxide equivalent.

Carbon Fraction
For the AFOLU sector projects, this describes the ratio between tons of carbon
dioxide equivalent to one ton of dry biomass.

Certification
third-party attestation related to an object of conformity assessment, with the
exception of accreditation.

[SOURCE: ISO/IEC 17000:2020(en), 7.6.]

Certification Body
third-party conformity assessment body operating certification schemes.

Note 1 to entry: A certification body can be non-governmental or governmental

(with or without regulatory authority).

[SOURCE: ISO/IEC 17065:2012(en), 3.12]

Certification Criteria
set of standards, rules, or properties to which an asset must conform in order to be
certified to a certain level.

Note 1 to entry: Certification criteria are defined by a certification policy. Certification

criteria can be specified as a set of certification properties that must be met.

[SOURCE ISO/IEC/IEEE 24765:2017(en), 3.526]

61
Certification Scheme
conformity assessment system related to management systems to which the same
specified requirements, specific rules and procedures apply.

[SOURCE: ISO/IEC 17021-1:2015(en), 3.15]

Claim
information declared by the client.

Note 1 to entry: The claim is the object of conformity assessment by

validation/verification.

Note 2 to entry: The claim can represent a situation at a point in time or could cover
a period of time.

Note 3 to entry: The claim should be clearly identifiable and capable of consistent
evaluation or measurement against specified requirements by a validation
body/verification body.

Note 4 to entry: The claim can be provided in the form of a report, a statement, a
declaration, a project plan, or consolidated data.

[SOURCE: ISO/IEC 17029:2019(en), 3.1]

Clean Development Mechanism (CDM)

Article 12 of the Kyoto Protocol defines the clean development mechanism: "The
purpose of the clean development mechanism is to assist Parties1 not included in
Annex I in achieving sustainable development and in contributing to the ultimate
objective of the Convention, and to assist Parties included in Annex I in achieving
compliance with their quantified emission limitation and reduction commitments
under Article 3".

Clean Development Mechanism Projects

They are a type of GHG Project that includes GHG emission reduction or removal
activities eligible for the Kyoto Protocol's Clean Development Mechanism (“CDM”).

Co-benefits
A policy or measure aimed at one objective could have positive effects on other
purposes, regardless of the net impact on overall social welfare. Co-benefits are
often subject to uncertainty and depend, among other factors, on local
circumstances and implementation practices. Co-benefits are the same named as
secondary benefits.

Conformity Assessment
demonstration that specified requirements are fulfilled.

62
Note 1 to entry: The process of conformity assessment as described in the functional
approach in Annex A can have a negative outcome, i.e., demonstrating that the
specified requirements are not fulfilled.

Note 2 to entry: Conformity assessment includes activities defined elsewhere in this

document, such as but not limited to testing, inspection, validation, verification,
certification, and accreditation.

Note 3 to entry: Conformity assessment is explained in Annex A as a series of

functions. Activities contributing to any of these functions can be described as
conformity assessment activities.

Note 4 to entry: This document does not include a definition of “conformity”.

“Conformity” does not feature in the definition of “conformity assessment”. Nor
does this document address the concept of compliance.

[SOURCE: ISO/IEC 17000:2020(en), 4.1]

Conformity Assessment Body (CAB)

body that performs conformity assessment activities and that can be the object of
accreditation.

Note 1 to entry: Whenever the term “conformity assessment body” is used in the
text, it applies to both the applicant and accredited conformity assessment bodies,
unless otherwise specified.

[SOURCE: ISO/IEC 17000:2004, 2.5, modified — The words “and that can be the
object of accreditation” have been added to the definition and the Note to entry
has been added; [ISO/IEC 17011:2017(en), 3.4]

Content of carbon dioxide (CO2)

ratio of the volume of carbon dioxide to the total volume of dry gaseous products
in which it is present.

Note 1 to entry: The carbon dioxide content is expressed as a percentage volume

fraction.

[SOURCE: ISO 22968:2010(en), 3.4.1]

Crops and planted trees

Those correspond to the coverage occupied by spatial arrangements where crops
coexist with tree plantations for all types of production (wood, firewood, fruit trees,
resins.); where the main characteristic of the coverage is that the increase in detail
does not imply the subdivision into pure units, because these shares the area,
alternated by furrows or rows of trees with crops.

Data Quality
degree to which the characteristics of data satisfy stated and implied needs when
used under specified conditions.

63
[SOURCE: ISO/IEC 25012:2008, definition 4.3]

Deviation
A change required or implemented, as applicable, by a project holder to either:

(a) An approved methodology, prior to registration of a GHG project; or

(b) The implementation of the GHG project when compared against the
monitoring plan as described in the registered PD or the monitoring methodology.

The acceptance of such a change is subject to Technical Committee approval, in

accordance with the BCR rules and requirements.

Forest (Natural Forest)

“Forest” is a minimum area of land of 0.05-1.0 hectares with tree crown cover (or
equivalent stocking level) of more than 10-30 per cent with trees with the potential
to reach a minimum height of 2-5 meters at maturity in situ. A forest may consist
either of closed forest formations where trees of various stores and undergrowth
cover a high proportion of the ground or open forest. Young natural stands and all
plantations which have yet to reach a crown density of 10-30 per cent or tree height
of 2-5 meters are included under forest, as are areas normally forming part of the
forest area which are temporarily unstocked as a result of human intervention such
as harvesting or natural causes, but which are expected to revert to forest.43

Forestry Plantation
Areas of arboreal vegetation that are managed for commercial purposes (e.g. wood
production) or for environmental benefits (such as erosion control or habitat
restoration). These plantations are established through human intervention usually
through planting or seeding, they are distinct from natural forests that develop
without human intervention.

Free, Prior, and Informed Consent (FPIC)

Free, Prior, and Informed Consent (FPIC) is a specific right granted to Indigenous
Peoples recognized in the UN Declaration on the Rights of Indigenous Peoples
(UNDRIP), which aligns with their universal right to self-determination.

FPIC allows Indigenous Peoples to provide or withhold/ withdraw consent, at any

point, regarding projects impacting their territories. FPIC allows Indigenous
Peoples to engage in negotiations to shape the design, implementation,
monitoring, and evaluation of projects.

Definition available in: [Link]

43
The Marrakech Accord. CP7/D11. [Link] The project
holder shall use the definition that applies.

64
Greenhouse gas (GHG)
gaseous constituent of the atmosphere, both natural and anthropogenic, that
absorbs and emits radiation at specific wavelengths within the spectrum of
infrared radiation emitted by the Earth’s surface, the atmosphere and clouds.

Note 1 to entry: GHGs include carbon dioxide (CO2), methane (CH4), nitrous oxide
(N2O), hydrofluorocarbons (HFCs), perfluorocarbons (PFCs) and sulfur hexafluoride
(SF6).

Note 2 to entry: Criteria may specify other radiative forcing constituents.

[SOURCE: ISO 14064-3:2019(en), 3.1.1.]

Greenhouse gas emission (GHG emission)

release of a GHG into the atmosphere.

[SOURCE: ISO 14064-3:2019(en), 3.3.2.]

Greenhouse gas emission factor (GHG Emission Factor)

coefficient relating GHG activity data with GHG emissions or GHG removals.

[SOURCE: ISO 14064-3:2019(en), 3.1.3]

Greenhouse gas emission reduction (GHG Emissions Reduction)

quantified decrease in GHG emissions between a baseline scenario and the GHG
Project.

[SOURCE: ISO 14064-3:2019(en), 3.4.8.]

Greenhouse gas inventory (GHG Inventory)

list of GHG sources, GHG sinks and GHG reservoirs and their quantified GHG
emissions and GHG removals.

Note 1 to entry: An inventory is established to cover a defined period of time.

[SOURCE: ISO 14064-3:2019(en), 3.4.4.]

Greenhouse Gas Mitigation

According to the Intergovernmental Panel on Climate Change (“IPCC”), mitigation
is a human-made intervention to reduce the sources or enhance the sinks of
greenhouse gases defined as natural or human-made carbon reservoirs, reducing
the amount of CO2 in the atmosphere.

Greenhouse Gas Mitigation Results (GHG Mitigation Results)

These are quantifiable GHG emissions reductions and removals generated by the
implementation of a GHG Project.

65
Greenhouse gas reservoir (GHG reservoir)
component, other than the atmosphere, that has the capability to accumulate
GHGs, and to store and release them.

Note 1 to entry: The total mass of carbon contained in a GHG reservoir at a specified
point in time could be referred to as the carbon stock of the reservoir.

Note 2 to entry: A GHG reservoir can transfer GHGs to another GHG reservoir.

Note 3 to entry: The collection of a GHG from a GHG source before it enters the
atmosphere and storage of the collected GHG in a GHG reservoir could be referred
to as GHG capture and GHG storage.

[SOURCE: ISO 14064-3:2019(en), 3.3.5.]

GHG project (Greenhouse gas project)

activity or activities that alter the conditions of a GHG baseline and which cause
GHG emission reductions or GHG removal enhancements.

[SOURCE: ISO 14064-3:2019(en), 3.4.1.]

Greenhouse gas project proponent (Project holder)

individual or organization that has overall control and responsibility for a GHG
Project.

[SOURCE: ISO 14064-2:2019(en), 3.3.2.]

Greenhouse gas programme (GHG Program)

voluntary or mandatory international, national or subnational system or scheme
that registers, accounts or manages GHG emissions, GHG removals, GHG emission
reductions or GHG removal enhancements outside the organization or GHG
Project.

[SOURCE: ISO 14064-2:2019(en), 3.3.4.]

Greenhouse gas removal

withdrawal of a GHG from the atmosphere by GHG sinks.

SOURCE: ISO 14064-1:2018(en), 3.1.6

Greenhouse gas statement

factual and objective declaration that provides the subject matter for the
verification or validation.

Note 1 to entry: The GHG statement could be presented at a point in time or could
cover a period of time.

66
Note 2 to entry: The GHG statement provided by the responsible party should be
clearly identifiable, capable of consistent evaluation or measurement against
suitable criteria by a verifier or validator.

Note 3 to entry: The GHG statement could be provided in a GHG report, GHG Project
plan or CFP study report. "CFP study report" is defined in ISO 14067:2018, [Link].

SOURCE: ISO 14064-3:2019(en), 3.4.3

Grouped Project
Grouped projects are those projects in which the addition of new areas (in the case
of projects in the AFOLU sector) and instances (in the other industries) is allowed
after the GHG Project's validation. That is, projects that can expand without the
need for a new validation of the project description. These projects shall comply
with the grouping conditions defined by BIOCARBON .

Intended User
individual or organization identified by those reporting GHG-related information as
being the one who relies on that information to make decisions.

Note 1 to entry: The intended user can be the client, the responsible party, GHG
program administrators, regulators, the financial community or other affected
interested parties, such as Ips and LCs, government departments or non-
governmental organizations.

SOURCE: ISO 14064-2:2019(en), 3.3.1

Landscape Management Tools (LMT)

Landscape management tools are landscape elements that constitute or enhance
habitat, increase functional connectivity, or simultaneously fulfill these functions for
native biodiversity. Landscape management tools may include biological and
conservation corridors and living fences.

Leakages
Those are the potential emissions that would occur outside the project boundaries
due to the GHG Project activities. Leakage means the net change in anthropogenic
emissions by sources of greenhouse gases (GHG) that occurs outside the project
boundary and are measurable and attributable to the project activity.

Level of assurance
degree of confidence in the GHG statement.

Note 1 to entry: Assurance is provided on historical information.

SOURCE: ISO 14064-3:2019(en), 3.6.5

Lifespan
Refers to the expected duration of its functionality, measured from its initial

67
activation. This duration can be expressed in years or total operating hours.

Materiality (Relative Importance)

concept that individual or the aggregation of errors, omissions and
misrepresentations could affect the greenhouse gas assertion and could influence
the intended users' decisions.

Note 1 to entry: The concept of materiality is used when designing the validation or
verification and sampling plans to determine the type of substantive processes
used to minimize risk that the validator or verifier will not detect a material
discrepancy (detection risk).

Note 2 to entry: The concept of materiality is used to identify information that, if

omitted or misstated, would significantly misrepresent a GHG assertion to
intended users, thereby influencing their conclusions. Acceptable materiality is
determined by the validator, verifier or GHG program based on the agreed level of
assurance.

[SOURCE: ISO 14064-3:2006, definition 2.29]; ISO 14066:2011(en), 3.4.11.

Monitoring plan
The plan which sets out the methodology to be used by project holders for the
monitoring of, and by CABs for verification of, the amount of GHG emission
reductions or GHG removals achieved by a GHG project, as applicable.

The monitoring should include the use and follow-up of all GHG program
documentation, such as tools.

Monitoring report
A report prepared by a project holder which sets out the GHG emission reductions
or GHG removals of an implemented registered GHG project, for a particular
monitoring period.

Operational time
Refers to the total amount of time the equipment has been functioning since it was
first commissioned. This duration can be expressed in years or total operating
hours.

Permanence
It is the longevity of a carbon deposit and its stability, considering the handling and
altering the environment where it occurs.

Project Activity
Specific set of technologies, measures, and/or outcomes, applied to a project to
change the conditions in the baseline scenario and reduce or remove GHG
emissions.

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Project Document
The document prepared by the project holder of a GHG project which sets out in
detail, in accordance with the GHG PROGRAM, the GHG project. The template of PD
is publicly available on the BIOCARBON website.

Project holder
The person or organization responsible for the design, validation, monitoring,
verification and registration of a GHG project.

The project holder has the agreements to represent all project participants to the
BIOCARBON registration.

NOTE: The project holder is acting as the Responsible Party.

Project length
Also known as Project Longevity Period, is the number of years from the project
start date that project activities will be maintained. The project length is made up
of the project quantification periods. Projects shall have a minimum project length
of 40 years.

Project participant
The organizations or individuals that own, develop, and/or manage the project
activities. This may include the project holder, project sponsor, investor, and
property manager.

Registration
The formal acceptance by the Technical Committee of a proposed GHG project
validated by a CAB as an approved project, as applicable. Registration is the
prerequisite for the verification and issuance of VCCs.

Remaining lifespan
This refers to the amount of time the equipment can keep functioning before
technical issues like age, safety concerns, or performance decline necessitate its
replacement or retirement. We measure this remaining usefulness in years or
operating hours.

Renewal of quantification period

Formal acceptance of the renewal of the quantification period of a registered GHG
project validated by a CAB to allow the continued verification, certification and
issuance of VCCs, if applicable, related to that GHG project in the new quantification
period.

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Quantification Period
The quantification period for reductions/removals attributable to GHG Project is the
period during which the project holder quantifies the GHG emission reductions or
removals achieved by the project in comparison to the baseline scenario.

To determine the start of the quantification period, project holder shall select a date
that is later than or equal to when the project generates the first GHG emission
reductions or removals.

The Quantification periods shall not exceed the project length period of the project.

REDD+
An international mitigation mechanism framed in the decisions of the CMNUCC,
whose objective is to reduce and remove GHG emissions through the
implementation of activities to reduce emissions from deforestation, forest
degradation, and other forestry activities.

REDD+ Activities
These are GHG mitigation actions that lead to the removal or reduction of GHG
emissions from deforestation and degradation of natural forests, namely:

(a) Reducing emissions from deforestation;

(b) Reducing emissions from forest degradation;

(c) Conservation of forest carbon stocks;

(d) Sustainable management of forest; and

(e) Enhancement of forest carbon stocks

Register (Registry)
list issued by a certification body, an authority or another registration organization,
for certificate holders or persons meeting predetermined criteria.

Note 1 to entry: A register can be publicly available or for in-house purposes.

[SOURCE: ISO/IEC TS 17027:2014(en), 2.65]

Renewal of Quantification Period

The formal acceptance of the renewal of the quantification period of a registered
BCR project, validated by a CAB, so as the allowed continued verification,
certification and issuance of VCC in the new quantification period.

The renewal of quantification period requires a reassessment of the baseline

scenario, based both on current regulations an on the provisions of the BCR
Standard.

70
Responsible Party
person or persons responsible for the provision of the GHG statement and the
supporting GHG information.

Note 1 to entry: The responsible party can be either individuals or representatives of

an organization or project and can be the party who engages the verifier or
validator.

[SOURCE: ISO 14064-1:2018(en), 3.4.3.]

Restoration
According to the Society for Ecological Restoration (SER), ecological restoration is
the process of assisting the recovery of an ecosystem that has been degraded,
damaged or destroyed.44

Reversal
A situation where the mitigation results, taking into account project emission
reductions/removals and leakages, are negative in any monitoring period. The
amount of a reversal is calculated as the difference between the current total net
mitigation results of the project and the total net mitigation results of the project
at the previous verification period.

Risk
effect of uncertainty.

Note 1 to entry: An effect is a deviation from the expected – positive or negative.

Note 2 to entry: Uncertainty is the state, even partial, of deficiency of information

related to, understanding or knowledge of, an event, its consequence and
likelihood.

Note 3 to entry: Risk is often characterized by reference to potential events (as

defined in ISO Guide 73:2009, [Link]) and consequences (as defined in ISO Guide
73:2009, [Link]), or a combination of these.

Note 4 to entry: Risk is often expressed in terms of a combination of the

consequences of an event (including changes in circumstances) and the associated
likelihood (as defined in ISO Guide 73:2009, [Link]) of occurrence.

[SOURCE: ISO 9000:2015, 3.7.9, modified — Notes to entry 5 and 6 have been
deleted]; ISO 19011:2018(en), 3.19

44
[Link]

71
Source, Sink, or Reservoir of Related GHG

The source, sink, or reservoir of GHGs, includes energy or material flows into, out of,
or within the project.

Stakeholder (Interested Party)

person or organization that can affect, be affected by, or perceive itself to be

affected by a decision or activity.

Note 1 to entry: To “perceive itself to be affected” means the perception has been
made known to the organization.

Note 2 to entry: The terms “interested party” and “stakeholder” are used
interchangeably.

[SOURCE: ISO 14001:2015, 3.1.6, modified — The admitted term “stakeholder” and
Note 2 to entry have been added; ISO 14006:2020(en), 3.1.7.].

Start Date

The start date for GHG Project is when activities that result in actual
reductions/removals of GHG emissions begin. That is when the implementation,
construction, or real action of a GHG Project begins.

For GHG Projects, based on GHG removal forestry activities and oil palm cultivation,
this starting date corresponds to the time on which site preparation, the
establishment of planting/cultivation, the commencement of restoration activities,
or other actions related to the start of project activities begins.

For REDD+ projects, the start date is when the activities proposed by the project to
demonstrate reduced emissions from deforestation and forest degradation begin.
The start of forest management strategies, including forest resource conservation
plans, can be considered the beginning of concrete actions to reduce deforestation.

For GHG Projects in the energy and transport sectors, the same start date rules are
defined by the Clean Development Mechanism.

GHG Project holders may only certify and register, in BIOCARBON’s Registry, projects
whose start date is within five (5) years before the validation. The validation starts
once signed a commercial agreement with the CAB.

Tool

A type of document or manual that provides a procedure on how to perform a

particular type of analysis.

Transparent and prudent

Establishing a baseline transparently and prudently means that assumptions are

explicit, and decisions are informed. In the case of uncertainties about the values
of variables and parameters, establishing a baseline is considered prudent if the
resulting baseline projection does not lead to an overestimation of the emission

72
reductions attributable to a GHG Project (in case of doubt, use the values that
generate a lower baseline projection).

Uncertainty

parameter associated with the result of quantification that characterizes the

dispersion of the values that could be reasonably attributed to the quantified
amount.

Note 1 to entry: Uncertainty information typically specifies quantitative estimates of

the likely dispersion of values and a qualitative description of the likely causes of
the dispersion.

[SOURCE: ISO 14064-1:2018(en), 3.2.13]

Validation

process for evaluating the reasonableness of the assumptions, limitations and

methods that support a statement about the outcome of future activities.

SOURCE: ISO 14064-2:2019(en), 3.4.3

Validation body

body that performs validation.

Note 1 to entry: A validation body can be an organization, or part of an organization.

[SOURCE: ISO/IEC 17029:2019, 3.4, modified — Note 2 to entry has been added.]; ISO
14065:2020(en), 3.3.26

Validity of mitigation results

It is the calendar year for which a GHG project obtains and measures its results.

Verification

systematic, independent and documented process for the evaluation of a

greenhouse gas assertion against agreed verification criteria.

Note 1 to entry: In some cases, such as in first-party verifications, independence can

be demonstrated by the freedom from responsibility for the development of GHG
data and information.

[SOURCE: ISO 14064-3:2006, definition 2.36].

Verification body

body that performs verification.

Note 1 to entry: A verification body can be an organization, or part of an

organization.

[SOURCE: ISO/IEC 17029:2019, 3.5, modified — Note 2 to entry has been added.]; ISO
14065:2020(en), 3.3.27

73
Verification / validation opinion

formal written declaration to the intended user that provides confidence on the
GHG statement in the responsible party’s GHG report and confirms conformity with
the criteria.

[SOURCE: ISO 14064-3:2019(en), 3.6.18.]

Vulnerability

propensity or predisposition to be adversely affected.

Note 1 to entry: Vulnerability encompasses a variety of concepts and elements

including sensitivity or susceptibility to harm and lack of capacity to cope and
adapt.

Note 2 to entry: Vulnerability is the degree to which an ecological, social and

economic system is susceptible to, or unable to cope with, adverse climate change
impacts, including climate variability and extremes.

[SOURCE: ISO 14090:2019, 3.15, modified — Note 2 to entry has been added.]; [ISO/TS
14092:2020(en)]

74
 Document history
Document Type. Standard. GHG Program. Regulatory document.
Version Date Document Nature

Voluntary Carbon Market Standard

Version January 7, Certification and Registration Program for Voluntary GHG Mitigation
1.0 2021 Initiatives
First version

Actualized version

To conform to a single standard, the following documents are unified:

PROCLIMA. 2021. STANDARD FOR THE VOLUNTARY CARBON

MARKET. From differentiated responsibility to common responsibility.
Version 1.0. January 7, 2021. Bogotá, Colombia. 59 p.

PROCLIMA. 2021. Certification and Registration Program for GHG

Mitigation Initiatives and Other Greenhouse Gas Projects. PROCLIMA
PROGRAM Responsibility & Quality. Document for public consultation.
May 13, 2021. Bogotá, Colombia. 77 p
Version February
2.0 14, 2022 Name changes of the document.
Copyright change into BioCarbon Registry.
Climate change adaptation section.
Changes in the co-benefit requirements.
Addition of section on reversal risk.
Renewal of quantification period.
Validity of the Verified Carbon Credit.
Sections on double counting and transition plan.
Minor editorial changes.

Actualized version
Scope
Version September
Verification periods
2.1 21, 2021
Other GHG Programs
Minor editorial changes

75
 Language section updated
BCR General Reserve Account included
Public comments updated

Version March 7, No Net Harm Environmental and Social Safeguards (NNH). The
3.0 2023 project holder shall demonstrate that the project activities do not
cause any net-harm.
Eliminated the internal audit process (first-party), as long as it
complies with all the provisions of the ISO 19011: 2018
Auditors training

Updated, including references to required BCR and CDM Tools

Version July 25,
Additionality section adjusted
3.1 2023
Minor editorial changes

Actualized version
Quantification periods, including CDM rules
Version September Additionality, adding a tool reference
3.2 23, 2023
Compliance with Applicable Legislation, containing protection of
human and indigenous peoples' rights
Public consultation and Transition plan, period adjusted

Actualized version
Length period and quantification periods
Conformity Assessment Bodies (DOE period)
Risk management
Social and environmental effects
Version March 1,
3.3 2024 Social and environmental safeguards
BCR Tool. Sustainable Development Safeguards, SDSs, (formerly
known as the No Net Harm Environmental and Social Safeguards
NNH).
Transition plan
Definitions

76
 Actualized version
Language
Length period and quantification periods
Carbon ownership and rights
Version June 2 8, Risk management
3.4 2024
Grouped projects

Monitoring plan

Project registration and issuance of VCCs

Changes after the project registration

77
78