Credible Carbon Registry Rules

Introduction

1. The purpose of these Registry Rules is to establish standard terms that must be adhered to by anyone wishing to use or participate in the Credible Carbon™ system for registering emission reduction projects, issuing emission reduction credits (Credible Carbon Credits) generated from registered projects, using the Credible Carbon™ brand, and using the Credible Carbon registry.

Definitions

2. In these Registry Rules, unless the context clearly requires otherwise, the words and phrases printed below in bold have the meaning assigned to them in this clause:

“Accepting Party” means a party that has acknowledged that it is bound by these Registry Rules (as they may be amended from time to time) by signing a copy of these Registry Rules and returning it to Credible Carbon;

“Brand User” means a party who wishes to use the Credible Carbon™ Brand other than a party making free use of the brand in accordance with rule 8;

“Carbon Dioxide Equivalent” or “CO₂e” means the amount of greenhouse gas that would have the equivalent atmospheric warming potential as one metric ton of carbon dioxide (CO₂), measured in increments of one metric tonne using equivalence factors specified by the Registry;

“Certification” means the written assurance by a Verifier approved by Credible Carbon that, during a specified time period, the implementation of a specified project resulted in reductions in anthropogenic emissions of greenhouse gases in the amount verified by the Verifier;

“Credible Carbon Brand” includes the “Credible Carbon trademark” and the “Credible Carbon name”;

“Credible Carbon name” means any symbol containing the words “CREDIBLE CARBON” used to designate a person or a legal entity; and

“Credible Carbon trademark” means any logo, label or word mark, registered or not, containing the word element “CREDIBLE CARBON” and being used to certify or label emission reduction projects and/or emission reduction credits as well as any associated goods or services such as trade, financing, consulting, monitoring, technical supervision, quality control, sponsoring or related activity.

Acceptance of Registry Rules

3. No person may register the Project on the Registry or apply for the verification and certification of emission reductions unless it has signed a copy of these Registry Rules and returned it to Credible Carbon.
4. Credible Carbon may publish signed copies of these Registry Rules on the Registry.
5. A Project must accept and sign these Registry Rules for each Project even if several projects are submitted simultaneously for registration and the Project has previously accepted the Registry Rules in respect of other Projects.
6. If the Project changes or an additional Project is added before the registration of a project is complete, then the new party must also send a signed copy of these Registry Rules to Credible Carbon prior to the registration of the project.
7. By signing a copy of these Registry Rules and returning it to Credible Carbon, the Accepting Party:
   • agrees to be bound by all the provisions of the Registry Rules and to comply with them; and
   • agrees to fully indemnify Credible Carbon, its directors, officers, employees, agents against, and to hold them harmless from, any claim by a third party arising from any act of omission by that accepting party, including claims arising in respect of the provision of false or inaccurate information, criminal acts, or the violation of intellectual property rights, by the Accepting Party.

Free use of term “Credible Carbon”

8. The words “Credible Carbon” without a logo or graphic highlighting may be used freely for the purpose of referring to Credible Carbon or describing the Registry, or any product or services offered by Credible Carbon provided that it is not used in a manner that is misleading, is likely to cause confusion in the market, or as part of the name of a name or label for a specific project, product or service..

Use of the Credible Carbon™ brand in relation to products and services

9. No person may use the Credible Carbon brand (apart from permissible “free use” referred to above or with the express written consent of Credible Carbon) unless that person has agreed in writing to comply with the Registry Rules by returning a copy of the Registry Rules signed by that person or their duly authorised representative, to Credible Carbon.
10. The Credible Carbon trademark must always be identified as a registered trademark through the use of the symbol “ ® “.
11. Any brand user that does not meet the terms in these Registry Rules at all times may not use the Credible Carbon brand and Credible Carbon explicitly reserves all of its legal rights in that regard.
12. Credible Carbon remains the owner of all rights to the Credible Carbon brand at all times and Brand Users receive worldwide, non-exclusive licenses to use the brand.

Pre-registration

13. A Project that has applied for registration may, with specific written permission of Credible Carbon, use the Credible Carbon trademark together with the phrase “project applicant” in order to indicate that an application has been made for the registration of a clearly identifiable project on the Registry.
14. A Project applicant may not use the Credible Carbon trademark or the Credible Carbon name for this purpose unless it has submitted a signed copy of the Registry Rules to Credible Carbon and all uses of the Credible Carbon brand are strictly in accordance with these Registry Rules.

Registration

15. Once a Project has applied for registration that Project may not register any emission reductions from that project with another Registry, either prior to or after those emission reductions have been registered in the Registry, without the prior written permission of Credible Carbon. The Project also may not sell its Credible Carbon Credits directly to customers, the transaction must go through the Registry and will attract the normal fees.
16. A project may only be described as “Credible Carbon registered” when the following conditions have been met:
    • a verifier approved by Credible Carbon has validated the facts that the Project meets the Registry’s eligibility criteria and that the Project Idea Note submitted by the Project comply with the requirements of the Registry;
    • any queries raised by Credible Carbon during the process of reviewing the registration application have been addressed or clarified to the satisfaction of Credible Carbon, and Credible Carbon has issued a statement to that effect;
    • the Project Registry account is in good standing and all invoices have been paid in full; and
    • the Project has entered into a registration agreement or similar written, legally binding agreement with Credible Carbon in which it makes a legally binding commitment to ensuring that the project will be periodically monitored and the emission reductions verified in accordance with these standards of the Registry.
17. The Project must immediately notify Credible Carbon if it is not in compliance with any of the above conditions at any time and must immediately cease claiming that it is a “Credible Carbon registered” project.
18. Credible Carbon may remove any non-complying project from the Registry within 10 days of receiving notification of non-conformity

Authorised use of Credible Carbon brand for registered projects

19. The Credible Carbon trademarks must be used with the project registration number in order to communicate that a specific project has been registered on the Registry.

20. Any user of the Credible Carbon brand must, at the request of Credible Carbon, submit a copy of all materials that feature the Credible Carbon trademark and that are publicly accessible to Credible Carbon for approval (e.g. uses of the Credible Carbon name or the Credible Carbon trademark at conferences, on websites, annual reports, publicity material).
21. If Credible Carbon has reason to believe that any person is making unauthorised use of the Credible Carbon brand or using it in a manner that is likely to damage Credible Carbon’s reputation or business, it may send a notice to that person directing them to cease doing so by a specified time. A failure by any person to comply with such a notice constitutes a breach of these Registry Rules.

Protection of Credible Carbon’s reputation

22. Projects, project applicants, Brand Users and Registry users must at all times refrain from any behavior that may damage the reputation of Credible Carbon and its services. If Credible Carbon has reason to believe that any party is acting in a manner that has damaged, or may damage the reputation of Credible Carbon, it may send a written notice to that party inviting it to make representations within the specified period as to why Credible Carbon should not take appropriate action to protect its reputation, including preventing that person from using the Credible Carbon brand and/ or terminating the registration of any projects in which that party is involved.
23. If, after having considered any representations made by the person in question within the specified period, Credible Carbon is of the view that a continued association with that party would be damaging to the reputation of Credible Carbon or the services that it provides, it may withdraw the registration of any projects in which that party is involved by written notice to the person in question and the registered Projects.

Ownership of information, confidentiality and data protection

24. Projects, project applicants, brand users and Registry users must provide true, accurate and adequately verified data to Credible Carbon and its subcontractors. This data will be used by Credible Carbon for project registration, issuing Credible Carbon credits, operating the Credible Carbon registry and licensing and will be kept confidential except that Credible Carbon shall be entitled to publish all information and data reasonably necessary to satisfy the public and users of the Registry that projects registered on the Registry and verified emission reductions certified by the Registry meet the requirements of the Registry including:
    • reports prepared by independent verifiers;
    • copies of any VERPAs entered into in respect of Credible Carbon Credits registered in the Registry; and
    • any agreements or undertakings to retire any VER registered in the Registry.
25. Credible Carbon may submit confidential information to third parties for expert review subject to the third parties concluding binding agreements with Credible Carbon that binds them to maintain the confidentiality of that information.
26. Projects, project applicants, brand users and registry users warrant to Credible Carbon that all documents and other intellectual property submitted to Credible Carbon or its sub-contractors do not violate the rights of third parties and indemnify and agree to hold harmless Credible Carbon and its subcontractors from any such claims by third parties.

Warranties of applicant

27. Any party that signs these Registry Rules for the purpose of applying for the registration of a project warrants to Credible Carbon that they have exclusive ownership and legal title to the specific projects in question and unimpeded capacity to act as the project applicant or Project.
28. The Project acknowledges that Credible Carbon Credits are created when they are issued in the Credible Carbon Registry and that at that time the Project will own those Credible Carbon Credits.

Sanctions

29. If Credible Carbon has reason to believe a party that has agreed to be bound by these Registry Rules has contravened any of the Registry Rules it may send that party a proposed sanction notice:
    • specifying the nature of the alleged contravention and the sanction or sanctions that Credible Carbon intends imposing on that party as a consequence; and
    • inviting that party to make representations in writing by a specified date.
30. After considering any representations made by the date specified in the proposed sanction notice, Credible Carbon may send a sanction notice to the party in question imposing one or more of the following sanctions:
    • a contractual fine of up to R10 000 in respect of each unauthorised use of the Credible Carbon Brand;
    • a contractual fine of up to R10 000 in respect of any information provided by that person in order to comply with the Registry Rules that is false;
    • partial or complete withdrawal of authorisation to use the Credible Carbon Brand;
    • removal of information from the Registry and/or related Credible Carbon websites;
    • freezing affected accounts in the Registry;
    • publication of the nature of the contravention and the name of the party or parties involved.
31. A failure to pay a contractual fine imposed in accordance with these Registry Rules constitutes a contravention of the Registry Rules.
32. The imposition of a sanction does not affect Credible Carbon’s right to claim damages or other legal remedies to which it may be entitled, and the fact that a party has complied with a sanction does not release that party from its obligations to comply in full with the Registry Rules.

Limitation of liability of Credible Carbon

33. Credible Carbon will act diligently in its selection of subcontractors (including Verifiers) and in establishing and monitoring the application of the Verification Process and these Registry Rules but does not warrant the accuracy of any information or assessments provided by third parties, including Project Applicants and Verifiers.
34. Neither Credible Carbon nor its officers, employees, agents or assigns are liable to the Accepting Party for any indirect, consequential, incidental or contingent damages, including but not limited to, a loss or profits, arising out of a breach of these Registry Rules or negligence on its/their part, or any cause whatsoever.
35. Any claims for damages that may be instituted by an Accepting Party against Credible Carbon in terms of these Registry Rules, shall be limited to an amount equal to the value of the Credible Carbon Credits in relation to which the claim arises. This maximum liability shall be an aggregate liability for all claims howsoever arising, whether by contract, delict, negligence or otherwise.

Changes to Registry Rules

36. Credible Carbon must make any changes to these Registry Rules in writing and publish them on the Registry website.
37. Any person who has accepted the Registry Rules is deemed to have accepted any changes made to them unless that person notifies Credible Carbon in writing within 30 days of being notified of the change that it does not accept a specific change or changes, giving reasons why it regards them as unacceptable.