Obligations of participants
Last updated 27 July 2024
It is important that you understand your obligations before you apply to participate in the BidCarbon Standard Scheme.
Participants in the BidCarbon Standard Scheme are required to comply with all requirements of the BidCarbon (Carbon Farming) Standard (the Standard), the BidCarbon (Carbon Farming) Specifications (the Specifications), and the method which applies to their project. This includes, but is not limited to:
● record keeping, reporting and audit requirements
● maintenance of Fit and Proper Person status
● maintenance of the legal right to undertake the project
● notification requirements, including the need to notify the Technical Governance Committee of any changes to their project and/or project participants, and all notification requirements in Division 3 of the Standard
● maintenance of carbon stores throughout the permanence period (for sequestration projects)
● carbon maintenance obligations (if one has been issued).
Failure to comply with obligations may result in penalty, including revocation of a project, and/or a requirement that a specified number of BidCarbon removal units be relinquished, and/or civil or criminal proceedings.
Reporting and Audits for the Project
Learn about the reporting and auditing requirements for the BidCarbon Standard Scheme project.
Making changes to your project
To make change, update or cancel to a registered project under the BidCarbon Standard Scheme, you will need to apply for a variation.
BidCarbon Standard Scheme methods
Learn about the different methods available for BidCarbon Standard Scheme projects.
Learn more
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