National Carbon Credit Registry
National Carbon Credit RegistryGet the code
What is it?
The National Carbon Credit Registry module, created by the United Nations Development Program (UNDP), is an open source Digital Public Good, designed in accordance with UNFCCC guidance, based on lessons learned through UNDP's Climate Promise and the technical expertise of the members of the Digital For Climate (D4C) working group. The "ready-to-install" but customizable registry will allow countries to prepare a carbon registry according to national contexts, enabling use in various mitigation activities and programs, sectors and national circumstances, while tracking carbon credits issued and enabling the transfer of credits in an efficient and transparent manner.
Why it was developed?
Interoperability: The carbon registry codebase will continuously improve on system interoperability between national carbon registries and related international systems through the D4C working group. An end to end digital ecosystem will avoid double counting and enable smooth credit transfer. Digitized carbon methodologies: The system will support countries to comply with reporting requirements of the Paris Agreement, by defining calculation methodologies according to the UNFCCC-CDM (Clean Development Mechanism) methodologies across nationally defined sectors. Credit Accounting: A serial number is assigned to each verified offset credit. When a credit is sold, the serial number for the reduction is transferred from the account of the seller to the account of the buyer which reduces the risk of double counting and offers transparency even in case of a cooperative approach of Article 6. Serial number generation is based on the UNFCCC-CDM methodology. Immutable blockchain technology: The immutable blockchain technology will prevent tampering of actions taken on projects and credit information, increasing accountability and credibility of the system.
Why we are sharing it?
The national carbon registry should be adapted to the national context while following below principles.
Scope: The Registry should encompass all significant greenhouse gas emissions and removals happening in the country, covering all sectors and gases.
Transparency: The Registry should make the information about emissions and removals publicly available, fostering understanding, trust, and participation among all stakeholders
Consistency: The registry should align with internationally agreed accounting rules, methodologies, and guidelines, particularly the ones provided by the Intergovernmental Panel on Climate Change (IPCC).
Integrity: The registry's data and procedures should be subject to regular review and validation by an independent party to ensure its accuracy and credibility.
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