Some non-conforming BVC projects may qualify within the Open Allocation carveout (up to 15% of total funding for BVC) even though they do not meet the core eligibility requirements of the Certification Standard. This provision should not be interpreted as an open allowance for all forms of financial support for environmental projects. Rather, the carveout supports market commitments and investments in units under specific conditions:
The units are denominated in metric tonnes of GHG removals.
AND
The units have not failed to achieved verification under established methodologies; rather, if the units do not meet the verification requirements of the Certification Standard, it is because there is no established compatible methodology within any of the accepted registries.
AND
The units are not connected to an underlying blockchain-based portfolio of carbon credits.
If these conditions are met, the Open Allocation Mechanism allows for eligibility of non-conforming units, including those that may have future delivery or vintage years. This also includes advanced market commitments or units of projects that are at the formation stage and are contracting for future issuance and delivery of carbon credits.
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All non-confirming BVC purchases must be documented using the same template as for conforming carbon credits, providing as much project information as is available at the time of purchase.