Overview
The GCOM Registry acts as the central repository for all information and documentation relating to registered projects or activities. It records and tracks GCOM projects and activities as well as the associated issuance, transfer, cancellation and retirement of credits and certificates (both in GHG and non-GHG metrics.)
The registry shall be implemented within a comprehensive and transparent national registry system and shall be operated by the DNA.
The registry is also responsible to keep record of the ownership of credits, to ensure integrity of credits issued under the registry by safeguarding against double counting or double selling of the serialized credits. A serial number is assigned to each verified credit, so when a credit is sold, the serial number for the reduction is transferred from the account of the seller to the account of the buyer. When buyers use or cancel credits the registry retires the serial number of that credit, such that the same credit cannot be re-sold.
The registry shall also:
- Uniquely identify each mitigation project activity and allow for viewing of any non-confidential information associated with the project.
- Assign serial numbers for credits or certificates generated by each project activity.
- Transparently track ownership of credits in order to make it possible to trace each credit back to the project from which it was originated.
- Allow to check the status of a credit (i.e., whether a credit has been retired, transferred or cancelled).