NCX Methodology Notice
Ongoing development or revision of the NCX greenhouse gas (GHG) accounting and verification methodology will not result in re-evaluation of previously issued NCX carbon credits.
The overall NCX program operates over one-year performance periods, generally beginning once per quarter (so that several staggered performance periods are typically running at one time). NCX issues carbon credits under the NCX program and are traded through the NCX platform in accordance with a methodology developed and applied by NCX in its sole discretion for each performance period.
NCX applies the methodology for each performance period to identify the project boundary, determine the baseline scenario, demonstrate additionality and permanence, and quantify net GHG emission reductions and/or removals.
The NCX GHG accounting and verification methodology, including its software algorithm used in evaluating GHG emissions reductions and/or removals, is subject to improvement, revision, or modification in successive performance periods at the sole discretion of NCX.
However, NCX intends to use only one version of the methodology for all credits issued in each performance period. NCX has no obligation to make adjustments or retroactively apply changes made to the methodology to carbon credits issued under the NCX program.
Upon request by the holder of any NCX carbon credits in the NCX platform (or former holder responsible for retirement of such credits), NCX will make available the details of the specific methodology applicable to the performance period(s) for which NCX issued such carbon credits.
Each holder or user of NCX carbon credits is solely responsible for determining whether any credits, and the methodology under which NCX issued them, meet the user’s needs, goals, and where applicable, legal requirements for any intended use or reliance upon such credits.
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