Offset Verification Statement definition

Offset Verification Statement means the final statement rendered by a verification body attesting whether an Offset Project Operator’s or Authorized Project Designee’s Offset Project Data Report is free of an offset material misstatement, and whether the Offset Project Data Report conforms to the requirements of this article and applicable Compliance Offset Protocol.

Offset Verification Statement means the final statement ren- dered by a verification body attesting whether an offset project oper- ator's or authorized project designee's offset project data report is free of an offset material misstatement, and whether the offset project data report conforms to the requirements of this chapter and applicable compliance offset protocol, and containing the attestations required pursuant to this chapter.

Offset Verification Statement means the final statement ren- dered by a verification body attesting whether an offset project oper- ator's or authorized project designee's offset project data report is

Examples of Offset Verification Statement in a sentence

• Before the Offset Verification Statement is completed, the verification body must have the offset verification services and findings of the offset verification team independently reviewed within the verification body by an independent reviewer not involved in verification services for that Offset Project Operator or Authorized Project Designee during that year.

• Upon completion of the offset verification services pursuant to section 95977(e)(2) the verification body must complete an Offset Verification Statement, and provide it to the Offset Project Operator or Authorized Project Designee and ARB or the Offset Project Registry by the verification deadline pursuant to section 95977(d).

• An offset project that has deferred verification for twelve years must resume conducting a full verification at least once every six years if it receives an Adverse Offset Verification Statement.

• Offers may include Offset Credits from an offset project that: (1) has received a Positive Offset Verification Statement, as defined in the Cap-and-Trade regulations, as of the RFO offer due date (an “Existing Project”); or (2) has not yet received a Positive Offset Verification Statement as of the RFO offer due date, but that will meet that criteria within twelve (12) calendar months after the effective date of the Agreement (a “New Project”).

• After an initial verification with a Positive Offset Verification Statement, reforestation offset projects and urban forest offset projects that meet the requirements of the applicable Compliance Offset Protocol may defer the second verification for twelve years, but verification of Offset Project Data Reports must be performed at least once every six years thereafter.

• The initial crediting period will begin with the date that the first verified emission reductions or removal enhancements occur, according to the first Positive Offset or Qualified Positive Offset Verification Statement that is received by ARB or an Offset Project Registry.

• After an initial verification with a Positive Offset Verification Statement, reforestation offset projects may defer the second verification for twelve years, but verification of Offset Project Data Reports must be performed at least once every six years thereafter.

• As a result of review by the offset verification team and prior to completion of an Offset Verification Statement, the Offset Project Operator or Authorized Project Designee must make any possible improvements or corrections to the submitted Offset Project Data Report, and a revised Offset Project Data Report must be submitted to ARB or the Offset Project Registry.

• If the Offset Verification Statement is not submitted to ARB or an Offset Project Registry by the verification deadline, the GHG reductions or GHG removal enhancements quantified and reported in the Offset Project Data Report are not eligible to be issued offset credits.

• An early action offset project that transitioned pursuant to the Program for Recognition of Early Action Offset Credits is considered to have begun its initial crediting period on the date that the first verified GHG emission reductions and GHG removal enhancements under a Compliance Offset Protocol took place according to the first Positive Offset or Qualified Positive Offset Verification Statement that was received by Ecology.