Project certification procedure

Summary

Application

The Project Developer (PD) submits a Project Application (PA) to start the certification process. This step is free of charge for PDs.

Once received, the PA is reviewed by the Certification team, with an average response time of 15 days. If clarification or additional details are needed, questions are sent to the PD.

For rejected applications, a refusal report explaining the decision will be provided to the PD. PDs may revise and resubmit at any time without restriction, allowing for the flexibility to revise and resubmit applications.

Approved PAs proceed to project registration.

Registration

To activate a Riverse registry account, the PD must complete the following steps:

• Use the connection link received via email

• Complete all administrative information required in the Admin page

• Follow the Know Your Customer (KYC) policy to ensure the PD is registered properly

All sites where the PD operates the project’s mitigation activity shall be registered during the validation phase using the provided Site Registration template. This includes all factories, facilities, or operations under direct control of the PD, whose activities are issued Riverse Carbon Credits.

Pre-validation

PDD submission

After the project is added to the registry, the PD is given access to the Impact Certification Platform to submit all elements required for the Project Design Document (PDD). The elements and their proof are checked by the Riverse Certification team, and upon approval the PDD is generated.

The PDD serves as the final validation document used for audit. PDDs shall contain, at a minimum, the following information:

• Non-technical description of the project operations, scope, PD, location, and other relevant actors

• Technical description of the technology and project operations

• Justification that the project meets all 12 criteria described in the Riverse Standard Rules, and, if relevant, the chosen methodology

• Assessment of environmental and social risks

• Justification of the chosen baseline scenario

• Project-specific assumptions, data sources, and emission sources/sinks in the GHG quantification, that are not already specified at the methodology level

• Demonstration of additionality

• Project-specific uncertainty assessment

• Monitoring Plan with Key Impact Indicators (KIIs) to be monitored

• Site registration

• Future production projections

PDD review

The Certification team evaluates the PDD and any supporting documents to ensure they respect Riverse’s general and methodology GHG quantification steps and eligibility requirements.

The Certification team may require clarifications and additional information about the project via the Impact Certification Platform.

For projects unlike any previously validated by Riverse, or in cases of uncertainty, the Certification team may recommend a full or partial proofreading of the PDD by a domain expert from the Technical Advisory Committee. This optional proofreading incurs fees based on the expert’s rates, charged to the PD.

Once the PDD completes an expert review (if needed) and is validated by the Certification team, the project proceeds to third-party validation with the VVB.

Validation

Project validation audit

The PDD and proof documents are made available to the third-party Validation and Verification Body (VVB) on the Impact Certification Platform. The VVB audits the adherence to the Riverse Standard Rules and the specified methodology. In this stage, the VVB may request additional information or ask questions to the PD or the Riverse Certification team.

Validation audits shall comply with the latest version of Requirements for Validation and Verification Bodies, available on the website under Standard Documentation. A minimum of two auditors from an accredited VVB must be involved for each project audit, ensuring a peer review mechanism to maintain accuracy and integrity.

The validation audit takes place between the PD, the VVB and where necessary, the Riverse Certification team, and clarification is managed on the Impact Certification Platform.

The audit results are documented in a report, shared with the PD and the Riverse Certification team and are available upon request.

Handling concerns and critiques

If the VVB identifies any reservations or discrepancies during assessment, the PD must respond promptly within 30 days. The PD can either correct the issues directly or submit a mitigation plan, which, if accepted by the VVB, can be added to the project's Monitoring Plan.

Site validation audit

A site audit is mandatory within two years of the project’s crediting period start date and/or before the second verification audit. This punctual site audit is complementary to the annual operations audits, which are checked during verification via documents and photos.

Projects that issue more than 10,000 RCCs per year must undergo an in-person site audit.

Projects that issue less than 10,000 RCCs per year may choose between an in-person or remote audit. A remote audit is allowed because 1) it eases the time and cost burdens of PDs and VVBs and 2) it is satisfactory for the industrial projects, which usually consist of small, unchanging, easily documentable sites. For details on the remote auditing process, refer to the Remote auditing section

VVBs reserve the right to request an in-person site audit if the remote audit is deemed insufficient. This may be at any time in the process, before or after a remote audit has been conducted.

The VVB must determine the specific components to be checked during the site audit. These components should allow the VVB to complete the goal mentioned above. A list of components should be sent to the PD one week before the scheduled audit.

The output of the site audit includes the VVBs comments on each component, noting whether it was confirmed, if there are remaining reservations, if it was deemed false, or (if it was done remotely) if an in-person follow-up audit is necessary.

Stakeholder consultation

Projects must undergo a stakeholder consultation in parallel with or before the validation audit through the Stakeholder consultation letter.

If a stakeholder consultation has already been conducted (to obtain a permit for instance), PDs are exempt from this requirement, and shall share the results on the Impact Certification Platform.

Additionally, the Riverse Registry provides an open-access space where stakeholders can check the project details and provide feedback. The consultation is open for a 30 day period on the Riverse Registry.

This feedback is gathered by the Certification team and analyzed in the Project validation review. The feedback received is added to the PDD in an Appendix and made available on the Riverse Registry.

Project validation review

Once validated by the VVB, the PDD is sent back to the Riverse Certification team to review the VVB’s remarks, and evaluate feedback from the stakeholder consultation (see details above).

If no concerns remain unaddressed, the project is validated. The PDD is made available on the Riverse Registry.

• For ex-post assessments, the project undergoes the verification audit simultaneously, which results in RCC issuance.

• For ex-ante assessments, the project’s provisional credits are estimated for the whole crediting period, and are eligible for pre-purchase agreements. The project proceeds to verification after it has started operating.

If concerns and critiques emerge from the stakeholder consultation or VVB report review, the Certification team may decide to subject them to the same process described above in the Handling concerns and critiques section.

Monitoring and verification

Key Impact Indicators

Key impact indicators (KIIs) are identified during the GHG quantification (or LCA) and the eligibility criteria assessment, and reported in the PDD. These are parameters with high variability and importance that need to be audited continuously to measure the impact of the project and the number of RCC to be issued, and ensure the project’s eligibility. KIIs should represent processes that can be measured automatically. A project should have 5-10 KIIs.

KIIs that are directly linked to the project’s main function/output (such as mass of waste recycled/reconditioned, kWh in biogas production…) must be accounted for. KIIs should cover values that are important in calculating avoided GHG emissions in the LCA, plus values that demonstrate continued adherence to eligibility criteria.

Sources for each KII must be identified in the Monitoring Plan in the PDD, and must be:

• auditable and documented: a process can be put in place that leads to these results. It is not subject to interpretation.

• digitalized: sources will ultimately be associated with carbon credits, they must be at least digitized if not already digital.

Monitoring plan

A Monitoring Plan is provided in the PDD that defines the source, frequency, and responsible party of measurement for each KII. This facilitates the ongoing, regular verification processes to ensure data quality in project monitoring. On a regular basis (every 3, 6, or 12 months), Project Developers upload KIIs to the Impact Certification Platform for monitoring and verification of their impact.

Quality assurance and quality control is ensured by requiring verifiable evidence for each KII.

Minimum requirements for a Monitoring Plan are defined at the methodology level, but individual projects may require monitoring of extra elements. The Monitoring Plan is created by the Riverse Certification team for each project, and PDs can accept it or request modifications. The Monitoring Plan is reviewed by the VVB during the validation audit.

Failure to adhere to the Monitoring Plan, for example omitting a KII measurement due to unexpected interruption or errors in monitoring equipment or procedures, shall result in conservative estimation of the concerned KII that results in a deduction of carbon credits.

The sources and KIIs proposed in the Monitoring Plan are documented and submitted annually in the Monitoring Report.

Verification

Verification includes an audit of sources and KIIs listed in the Monitoring Plan. This verification is conducted by a Riverse accredited VVB that assesses the project’s operation according to the Requirement for VVBs.

A project shall undergo regular monitoring and verification. The default period for a verification period is one year. The length of the verification period may vary but shall not exceed two years of operations. If a project does not conduct a verification within 2 years it shall be de-registered and must renew its crediting period.

The PD submits KIIs on the Impact Certification Platform to update the GHG quantification and calculate the actual carbon avoidance/removal that occurred during the crediting period. The updated KIIs and any compliance updates (see section below) are summarized in the Monitoring Report.

The VVB delivers a verification opinion certificate for each verification, which is made publicly available on the Riverse Registry.

Additionally, spot checks are conducted by the Certification team to ensure that the project’s mitigation activity occurs as described in the PDD.

Once the Monitoring Report and KII’s source are audited:

• For projects that completed ex-ante validation, provisional credits are converted and issued as RCCs (see the Under- / Overachievement section)

• For projects completing ex-post validation and verification simultaneously, or for subsequent verifications (e.g., in years 2, 3, etc.), the verified amount of RCCs are issued directly.

Upon credit issuance, the PD must have an activated account with the Riverse registry, where All RCCs are issued, transacted, and retired.

Continuous issuance

Projects may choose to issue credits more frequently than their verification audit interval by opting for continuous issuance. Continuous issuance eligibility requires that a project:

• Operate for at least one month with at least one verification audit showing minimal discrepancies.

• Demonstrate the ability to provide data at the desired continuous frequency.

• Develop a continuous issuance Monitoring Plan.

• Request and receive approval from a VVB and the Riverse Certification team.

The steps for continuous issuance include:

• Project Developers submit data continuously to the Riverse Impact Certification Platform, which automatically calculates GHG emission avoidance/removal

• Calculations and proof are checked by the Riverse Certification Team

• Provisional credits are made available on the registry

• A verification audit is performed at the desired frequency (every 3, 6 or 12 months), assessing the compilation of data and proof provided continuously over the previous reporting period

• Provisional credits are converted to verified RCCs, and follow the issuance adjustments per the Under-/Overachievement section

Compliance and project updates

A project's validated status may be affected by:

1. Revisions to Riverse Standard Documentation or Methodology:

   • If the Riverse Standard Documentation or methodology used in the project validation has been updated, PDs must use the latest version for the subsequent verification of RCCs.

   • Ineligibility: If revisions render the project ineligible, it cannot issue credits at the next verification, though existing credits remain on the registry.

   • Compliance Requirements: For revisions requiring proof of compliance, the PD must demonstrate adherence in the next Monitoring Report.

2. Major Changes in Project Scope or Operations:

   • Required Updates: Significant changes in operations, processes, baseline scenario, technologies, or scale require the PD to update GHG quantification and eligibility in the next Monitoring Report.

For both revisions and major changes, the following apply:

• Verification by VVB: The VVB audits all changes summarized in the Monitoring Report to ensure they comply with Riverse Standard Rules and the selected methodology uphold project integrity.

• Updated LCA: All changes must be reflected in an updated LCA to ensure ongoing accuracy and conservatism.

Crediting Period Renewal

The maximum duration of the crediting period is 5 years. This means that for 5 years after the start of the crediting period, the validation and Monitoring Plan is valid, and verification may be performed by following the Monitoring Plan requirements. At the end of the crediting period, the project must be renewed. For renewed projects, the crediting period shall be the total length of the combined crediting periods.

Upon renewal, projects must undergo a new validation assessment by performing the following steps, including all elements described in the Project validation section.

• Preparation of a new PDD, with updated responses to all eligibility criteria, updated GHG reduction quantification, and an updated selection of a baseline scenario

• Validation audit

• Site audit

• Stakeholder consultation

• Project validation review

Project status on the registry

Project status is related to the different steps in the certification process.

See the RCC Status on the registry section for corresponding information on credit status.