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GCC Fees

GCC Fee Schedule

(USD, Exclusive of VAT)

TYPE OF FEE AMOUNT STAGE OF PAYMENT
GCC Projects Portal Account Opening Fee Free of cost Any stakeholder can register and log in to GCC Projects Portal1

  • Project Owner Account: The Focal Point for the project submission must open a Project Owner account, which will provide opportunity to access online interface of GCC Projects Portal, to upload documents and monitor the project submission from the initial2 stage until registration (the stage after completion of project Verification) of the project.
  • GCC Verifiers Account: GCC Verifiers are required to create a verifier account to access GCC Projects Portal to upload the ‘Request for Registration’ and Verification reports and other verified documents online. The Project Owner notifies the GCC Operations Team via email (operations@globalcarboncouncil.com) of the verifier contracted for its project.
Project Registration Fee (one time, per project), USD 3,000
  • For project submissions made to GCC after 15 February 2022, USD 3000 is payable at the time of initial submission of the project to GCC Program.
  • For submissions made to GCC on or before 15 February 2022, USD 1000 is payable at the time of submission of a request for registration (the stage after completion of project Verification) of the project to the GCC Program.
  • For projects submitted to the GCC program on or before 15 February 2022 and for which a project registration fee of USD 1,000 was paid, if such project is resubmitted to repeat the Global Stakeholder Consultation (GSC) as may be required by the program process, an additional fee of USD 2,000 shall be billed to the Project Owner to complete the new applicable fee of USD 3,000.
IHS Markit Registry (S&P Global) Account Opening Fee for Project Owner & Buyer(one time, valid for one year), USD 1,000 Payable at the time of account opening on the IHS Markit registry3.

The IHS Markit registry facilitates the management of Approved Carbon Credits (ACCs) generated from the GCC project. Opening account4 on IHS Markit registry will provide opportunity to accountholder to access both public5 as well as internal6 online interface of IHS Markit (login with ID and password required). An active registry account depending on the category facilitates the following activities:
a. Post-registration submission of monitoring report and ‘Request for Issuance ACCs and/or certification labels;
b. Repository and banking of the issued ACCs;
c. Portfolio management via IHS Markit dashboard; and
d. Initiating ACC transactions (issuance, transfer, retirement).

There are four board categories of accounts:
Project Owner Account: This account shall be created by the Focal point of the Project owner who has ownership over the ACCs after the project has completed verification and submitted the Request for Registration through the GCC project portal. Opening this type of account allows all four services (a), (b), (c), (d) as stated above.
Trading Account: This account is designed for buyers of ACCs to be used primarily for trading but not for purposes of a Project Owner account and can be created anytime. Opening this type of account allows only the services stated in (b), (c) and (d) as stated above.
Other Accounts: This account is to be used primarily by corporates for retiring ACCs for carbon neutrality and for purposes other than meant for a Project Owner account and shall be created anytime. Opening this type of account allows only the services stated in (b), (c) and (d) above.
GCC Verifiers will be provided free of cost access to this registry after the Project Owner chooses and assigns them to the IHS Markit registry for Emission Reduction Verification services. GCC Verifiers can submit documents online such as verified monitoring reports, Verification reports as well as requests for issuance of ACCs/labels for specific monitoring periods.

Annual IHS Markit Registry Account Maintenance Fee (per year, per account) 1,000 Payable annually before the expiry of the account’s validity date.
Issuance Fees (USD / ACC) Issuance Fees per Project Owner per Year Depending on Quantity and Project Type *Example of fees calculation given below
Issuance Quantity Start (ACCs) Issuance Quantity End (ACCs)*1 USD/ACC There are two options available to pay the issuance fees: Option-1: Payable before issuance of ACCs. Although as per paragraph 72(d) of Program Process document (
GCC Program Processes V4
) the issuance and label fees is payable at the time of submission of request for issuance, in view of COVID19 Pandemic GCC Program relaxes the requirement for all the projects that submit requests for registration before 4 July 2022. The issuance fees and label fees for such projects are payable immediately upon communication of Steering Committee’s decision to Project Owners approving issuance of ACCs and SDG+, and/or E+ and/ or S+ labels for the respective monitoring period. The GCC Program and its Carbon Registry Operator IHS Markit will issue the ACCs and labels only upon receiving evidence of the transfer of Fees to GCC account. Option-2: Project owners can make payment of issuance fees just before the stage of transfer of ACCs. For exercising this option project owners must inform GCC Operation Team about their selection of this option at the time of submission of each request for issuance. Along with submission of the request for Issuance, the Project Owner shall deposit the administrative fees of 10,000 USD for exercising this option. The 50% of this money (5000 USD) shall be refundable and adjusted by Project Owner against future payments to GCC.
Project Type-A1 Project Types-A2, A3, B1, B2
1 1,000,000 0.12 0.15
1,000,001 2,000,000 0.10 0.12
2,000,001 6,000,000 0.09 0.11
6,000,001 8,000,000 0.05 0.07
8,000,001 10,000,000 0.04 0.05
10,000,001           + 0.03 0.04
Transfer Fees (USD / ACC) for all project types (A1, A2, A3, B1, B2) 0.04 Payable before transfer of ACCs.
Retirement Fees (USD / ACC) for all project types (A1, A2, A3, B1, B2) 0.04 Payable before retirement of ACCs
Fees (USD/ACC) for issuance of each label (Social Safeguard Label (S+) or Environment Safeguard Label (E+) or SDG Label (SDG+Bronze/ SDG+Silver/SDG+Gold/ SDG+Platinum/ SDG+Diamond) 0.02 Payable as per option-1 and option-2 stated above. If all the three labels are issued, a fee of USD 0.06/ACC is required to be paid.
Organizational verifier fee for each 2-year approval (UNFCCC/ISO Track) 2,000 Payable at the time of approval & for each re-approval, valid for 2 years
Organizational verifier fee for each 2-year approval (MOU Track) Payable directly to the Accreditation body with which the GCC Program has signed a MOU
Project Owners shall request an invoice by email to accounts@globalcarboncouncil.com

* Example for calculation of ACC issuance fees for issuance of 15 Million ACCs issued to type A1 project in one year for one project owner

Issuance fees (in USD) = 1000000 x 0.12 + (2000000 – 1000000) x 0.10 + (6000000 – 2000000) x 0.09 + (8000000

– 6000000) x 0.05 + (10000000 – 8000000) x 0.04 + (15000000 – 10000000) x 0.03 = USD 9,10,000

A1 type projects: This type includes new futuristic projects, not submitted to any GHG Program, which shall start operations after submission of a complete GCC registration request (the stage after completing project Verification by GCC Verifier and clearing of completeness check by GCC Operations Team). The start date of the crediting period of such GCC Project Activity shall be after registration with the GCC Program, but not more than one year after the Operations Start date. ACCs with or without certification labels (E+, S+, SDG+, C+), can only be issued by GCC Program, for 10 years. A fresh Project Verification shall be conducted for the scope covering GHG and certification labels (E+, S+, SDG+, C+) as required by GCC Program Process.

A2 type projects: These project types shall make the initial submission (for starting Global stakeholder consultation) to the GCC Program before 5 July 2022. A fresh Project Verification shall be conducted for the scope covering GHG and certification labels (E+, S+, SDG+, C+) as required by GCC Program Process. Note that CDM or any other Validation Report is not valid and cannot be used for these project types.

Sub-type 1: This type includes existing operational projects, not submitted to any GHG Program, which have started operations after 1 January 2016. The start date of the crediting period of such GCC Project Activity shall be after 1 Jan 2016 but not more than one year after the Operations Start Date and ACCs can only be issued by GCC Program, for 10 years.

Sub-type 2: This includes those projects, which have been registered with CDM or any Program[3] before 1 Jan 2016 but did not start operations at all on the start date of GSC with the GCC program (i.e., CERs/units have not been issued). These types of projects shall either be deregistered from CDM/under article 6.4/any Program or submit a public undertaking which states that the Project Owner will never submit any request for Issuance or request for renewal of crediting period to CDM-EB/under article 6.4/any authority (if and when applicable) after submission to GCC Program. The start date of the crediting period of such GCC Project Activity shall be after 1 Jan 2016 but not more than one year after the Operations Start Date. ACCs, with or without certification labels, can only be issued by GCC Program, for the remaining crediting period for which CERs/units have not been issued by CDM Executive Board of the UNFCCC or any authority, subject to a ceiling of 10 years under GCC Program.

Sub-type 3: This type includes those projects, which have been registered with CDM or any Program before 1 Jan 2016 but started operations only after 1 Jan 2016 (and CERs/units have not been issued). These types of projects shall either be deregistered from CDM/under article 6.4/any Program or submit a public undertaking which states that the Project Owner will never submit any request for Issuance or request for renewal of crediting period to CDM-EB/under article 6.4/any authority (if and when applicable) after submission to GCC Program. The start date of the crediting period of such GCC Project Activity shall be after 1 Jan 2016 but not more than one year after the Operations Start Date. ACCs, with or without certification labels, can only be issued by GCC Program, for the remaining crediting period for which CERs/units have not been issued by CDM Executive Board of the UNFCCC or any authority, subject to a ceiling of 10 years under GCC Program.

Sub-type 4: This type of projects includes those CDM excluded CPAs, which have been included in CDM registered PoAs after 1 Jan 2016. Such types of projects shall, have started operations after 1 Jan 2016 (CERs may have been issued). Proof of exclusion of CPA from the registered CDM-PoA may be provided after the ‘Request for registration’ of the proposed project activity has been submitted to the GCC Program but prior to registration of the project. The start date of the crediting period of such GCC Project Activity shall be after 1 Jan 2016 and same as that stipulated in the included CDM-CPA Project Design Document (as uploaded on the UNFCCC website) of the registered CDM-PoA. ACCs, with or without certification labels, can only be issued by GCC Program, for the remaining crediting period for which CERs have not been issued, by CDM Executive Board of the UNFCCC, which shall not extend beyond end date of the 28 years life of the PoA and subject to a ceiling of 10 years under GCC Program.

Sub-type A3: This type includes projects, not submitted to any GHG Program, which shall make initial submission to the GCC Program on or after 5 July 2022 and initial submission shall be either prior to the start of operation or within one year from the date of start of project operation. The start date of the crediting period of such GCC Project Activity shall be after the date of registration with the GCC Programand ACCs can only be issued by GCC Program, for 10 years.

 

B-type projects: These types of projects shall either be deregistered from CDM or submit a public undertaking which states that the Project Owner will never submit any request for Issuance or request for renewal of crediting period to CDM-EB or under article 6.4 (if and when applicable) after submission to GCC Program. ACCs, can only be issued, for the remaining crediting period for which CERs have not been issued by CDM Executive Board of the UNFCCC, subject to a ceiling of 10 years under GCC Program. The start date of the crediting period of such GCC Project Activity shall be after 1 Jan 2016 and same as that stipulated in the registered CDM Project Design Document (as uploaded on the UNFCCC website).

B1 type projects: This type includes those CDM projects, which have been registered with CDM after 1 Jan 2016, have started operations after 1 Jan 2016 (CERs may have been issued), and wish to register them with GCC Program, but also wish to claim additional GCC labels (related to contribution to SDGs, Do-No-Net-Harm to Environment and Society, Host Country Attestation on Double Counting). Project Verification is only required for verifying the gaps and part of the additional information in the PSF regarding additional labels and any other information not covered by the CDM Validation Report. For sections related to GHG emission reductions, the CDM Validation Report can be referred.

B2 type projects: These types of projects are similar to type B1 projects but do not not wish to apply for additional certification Labels (related to contribution to SDGs, Do-No-Net-Harm to Environment and Society, Host Country Attestation on Double Counting) and are not eligible for the CORSIA label (C+). Project Verification is not required to be conducted as there is no additional information in the PSF regarding GHG emission reductions that is not covered by the CDM Validation Report. For these projects, the CDM Validation Report may be used instead of the PSF and GCC Project Verification Report and can be directly registered under GCC Program.

 

For exact and detailed requirements of the project types, please refer to:
(a) Clarification No. 1 (paragraph 27)
(b) Clarification No. 4 (paragraph 12)
(c) Clarification No. 5 (paragraph 6)