Md. Code Regs. 26.09.03.09

Current through Register Vol. 51, No. 21, October 18, 2024

Section 26.09.03.09 - Awarding and Recording of CO[2] Offset Allowances

A. CO₂ Emissions Offset Projects. Following the issuance of a consistency determination and the approval of a monitoring and verification report, the Department shall award one CO₂ offset allowance for each ton of demonstrated reduction in CO₂ or CO₂ equivalent emissions or sequestration of CO₂

B. The Department shall record awarded CO₂ offset allowances in the project sponsor's general account.

C. Deadlines for Submittal of Monitoring and Verification Reports.

(1) For CO₂ emissions offset projects undertaken before January 1, 2009, the project sponsor shall submit the monitoring and verification report covering the pre-2009 period by June 30, 2009.

(2) For CO₂ emissions offset projects undertaken on or after January 1, 2009, the monitoring and verification report shall be submitted within 6 months following the completion of the last calendar year during which the offset project achieved CO₂e reductions or sequestration of CO₂ for which the project sponsor requests the award of CO₂ offset allowances.

D. Contents of Monitoring and Verification Reports. For an offset project, the monitoring and verification report shall include the following information:

(1) The project sponsor's name, address, email address, telephone number, facsimile transmission number, and general account number;

(2) The CO₂ emissions reduction or CO₂ sequestration determination including a demonstration that the project sponsor complied with the required quantification, monitoring, and verification procedures and those outlined in the approved consistency application;

(3) A signed statement that reads "The undersigned project sponsor hereby confirms and attests that the offset project upon which this monitoring and verification report is based is in full compliance with all applicable requirements. I have been granted all the necessary authority to carry out the duties and responsibilities for the offset project under this subtitle. I understand that eligibility for the award of CO₂ offset allowances is contingent on meeting applicable requirements. I authorize the Department or its agent to audit this offset project for purposes of verifying that the offset project, including the monitoring and verification plan, has been implemented as described in the consistency application that was the subject of a consistency determination by the Department. I understand that this right to audit shall include the right to enter the physical location of the offset project and that I shall make available to the Department at its request all documentation relating to the offset project. I submit to the legal jurisdiction of the State.";

(4) A certification signed by the project sponsor certifying that all offset projects for which the project sponsor has received offset allowances under the project sponsor's ownership or control, or under the ownership or control of any entity which controls, is controlled by, or has common control with the project sponsor, are in compliance with all applicable requirements of this subtitle in all participating states; and

(5) A verification report and certification statement signed by an independent accredited verifier that the independent verifier has reviewed the monitoring and verification report and evaluated the following in relation to applicable requirements:

(a) The adequacy and validity of information supplied by the project sponsor to determine CO₂ emissions reductions or CO₂ sequestration pursuant to applicable requirements;

(b) The adequacy and consistency of methods used to quantify, monitor, and verify CO₂ emissions reductions and CO₂ sequestration in accordance with applicable requirements;

(c) Any other evaluations and verification reviews required by the Department to determine the adequacy and validity of information supplied by the project sponsor to demonstrate that the offset project meets applicable eligibility requirements of this chapter;

(d) Disclosure of any voluntary or mandatory programs, other than this subtitle, to which greenhouse gas emissions data related to the offset project has been, or will be reported; and

(e) For offset projects located in a state or United States jurisdiction that is not a participating state, a demonstration that the project sponsor has complied with all requirements of the cooperating regulatory agency in the state or United States jurisdiction where the offset project is located.

E. Location for Filing Monitoring and Verification Reports. The monitoring and verification report shall be filed with the same department that issued the consistency determination for the offset project.

F. Action on Monitoring and Verification Reports.

(1) Within 30 days of receipt, the Department shall review the monitoring and verification report for completeness and notify the project sponsor if incomplete.

(2) If a determination of incompleteness is made, a project sponsor may resubmit an updated report to the Department.

(3) The Department shall approve or deny a complete monitoring and verification report within 45 days following receipt of a complete report.

Md. Code Regs. 26.09.03.09

Regulation .09E amended effective May 18, 2009 (36:10 Md. R. 717); amended effective 45:26 Md. R. 1249, eff. 12/31/2018