Failure to meet project reporting deadlines

Reporting requirements

All participants in the BidCarbon Standard Scheme are required to submit a project report to the Technical Review Committee (TRC) for each project reporting period, regardless of whether you intend to apply for BidCarbon removal units (BRUs) or whether your project is conditionally declared. A reporting period must not exceed two years for avoidance projects or five years for sequestration projects and must start from the start date of a project's crediting period or immediately follow the previous reporting period.

Failure to obtain TRC approvals or consents from eligible interest holders by the end of the first reporting period is not a valid reason to delay reporting. Projects with conditional declarations can submit project reports, but BRUs cannot be issued until all conditions on the project declaration (eligible interest holder consents and regulatory approvals) have been removed.

The deadline for submitting project reports is six months after the end of the reporting period, unless your method specifies otherwise. Some project reports must also be accompanied by an audit report. If an audit report is not provided when required, BRUs will not be issued.

Failure to submit your project report on time may result in a review of your eligibility to participate in the scheme, project withdrawal or loss of entitlement to BRUs. In certain circumstances, the TRC may accept a voluntary offer and undertaking.

Participants who anticipate that they may not be able to meet their reporting deadline should contact the TRC as soon as possible to discuss the possibility of changing the start date of the project crediting period, which in some cases can be extended by up to 18 months. Participants who wish to change the start date of their project crediting period must do so before the first reporting deadline.

Participants who have changed the start date of their crediting period and are still unable to meet the first reporting deadline must notify the TRC in writing no later than three months before the deadline (i.e. the date the report is due). The TRC will consider late reporting on a case-by-case basis and is under no obligation to grant extensions. If your project is linked to a carbon removal contract, you will need to consider the impact on delivery milestones if your project start date or reporting timeframe has changed.

Under the BidCarbon Standard Scheme, late reporting is a serious breach of the scheme and may result in your project being withdrawn. Providing false or misleading information may result in enforcement action by the Technical Governance Committee. For more information, see the monitoring, guiding and lawsuits policy.

Delivery of BidCarbon credit units

If BRUs from your project report are to be used to meet contract deliverables then you need to submit the report in time for the TRC to assess the report. The BidCarbon (Carbon Farming) Standard states that the TRC may take up to 90 days to assess project reports, either from the date on which the report was submitted, or from the date on which a complete response to a request for further information was received.

Contracted project proponents who are seeking additional time to provide reports for their projects should engage early with the TRC if they believe there will be difficulties in meeting delivery obligations.

No BRUs can be issued for a project until all conditions on the project declaration (eligible interest holder consents and Technical Governance Committee approvals) have been removed.