N.H. Admin. Code § Env-A 4707.07

Current through Register No. 45, November 7, 2024

Section Env-A 4707.07 - Carbon Sequestration Permanence

A carbon sequestration due to a forest offset project shall meet the following requirements in the event of a reversal of the sequestered carbon:

(a) In the event of an unintentional reversal, the project sponsor shall:

(1) No later than 30 calendar days after the date of discovery of the unintentional reversal provide written notice to the department of the unintentional reversal describing the nature of the reversal and explaining the reason or reasons for its occurrence; and

(2) No later than one year after the date of discovery of the unintentional reversal, submit to the department a verified estimate of current carbon stocks within the offset project boundary; and

(b) In the event of an intentional reversal, the project sponsor shall:

(1) No later than 30 calendar days after the intentional reversal provide written notice to the department of the intentional reversal describing the nature of the reversal and explaining the reason or reasons for its occurrence; and

(2) No later than one year after an intentional reversal, submit to the department a verified estimate of current carbon stocks within the offset project boundary;

(c) In the event of an intentional reversal that occurs after CO₂ offset allowances have already been awarded to the offset project the department shall, upon receipt of the verified estimate of carbon stocks submitted to the department in accordance with paragraph (b)(1), above, or after one year has elapsed since the occurrence of the reversal if the project sponsor fails to submit the verified estimate of carbon stocks, provide written notice to the forest owner that the forest owner shall, no later than 180 days after receipt of such notice, surrender to the department, for retirement, a quantity of CO₂ offset allowances equal to the quantity of CO₂ equivalent tons reversed;

(d) If any reversal lowers the forest offset project's actual standing live carbon stocks below its project baseline, the department shall:

(1) Terminate the forest offset project; and

(2) Provide written notice to the forest owner that the forest owner shall, no later than 180 days after receipt of such notice, surrender to the department, for retirement, a quantity of CO₂ allowances calculated pursuant to project termination provisions in the forest offset protocol; and

(e) In the event of any reversal the project sponsor shall be required to surrender CO₂ offset allowances to the department in accordance with the notice issued pursuant to paragraphs (c) or (d), above. In the event that a project sponsor fails to comply with this paragraph, each CO₂ offset allowance not surrendered shall constitute a separate violation.

N.H. Admin. Code § Env-A 4707.07

#9481, eff 5-23-09; ss by #10469, eff 1-1-14