The GHG Offset Project is a mechanism for issuing credit to encouraging implementation of voluntary GHG emission reduction by entity. The emission reduction is calculated according to the difference between the GHG emitted in the baseline scenario and that in project scenario. The implementation of the GHG Offset Project shall follow the description of methodology designated by the MOENV.
The application of the GHG Offset Project is divided into two stages: registration and issuance of credit. In the registration procedure, the applicant shall propose a suitable approval methodology to describe a project design document (PDD). All the description of PDD shall comply with the methodologies approved by the Clean Development Mechanism Executive Board (CDM EB) or the domestic circumstance methodologies recognized by the MOENV. The PDD shall be validated via the verification bodies that the MOENV recognized. Afterward, the applicant could provide the validated PDD, validation report and other related documents to further apply for the project registration to the MOENV.
Issuance of credit procedure: The applicant shall implement and operate the registered PDD in accordance with description in the registered PDD including all physical features, then complete the monitoring report. The monitoring report shall be verified via the verification bodies that the MOENV recognized. Afterward, the applicant could provide the verified monitoring report, verification report and other related documents to further apply for the issuance of credit to the MOENV.
The methodology shall be approved by the Clean Development Mechanism Executive Board (CDM EB) and/or the MOENV. Additionally, the applicant could submit the new methodology to the MOENV: Methodology application procedure: The applicant shall propose the methodology draft and the evaluation report from a verification body to the MOENV.
When the MOENV receives the submission from the applicant, the committee shall assist the MOENV by appraising the application for project registration, application for issuance of credit and application for new methodology. The committee shall review and make the final decision for each application.