Definitions

This sections defines users that partner with Regen Registry and common terms used by Regen Registry

User Definitions

Aggregate Project - A project in which multiple independently managed projects at different sites or locations within the same geographic region are registered together as a single project to strategically reduce the amount of data required for monitoring, reporting, and verification.

Approved Methodology - A methodology (or set of methodologies) that has been approved for use within Regen Registry, or more specifically, within a Regen Registry approved Credit Class.

Baseline Scenario - The hypothetical situation that represents the state or condition of an ecological system (like a habitat, species population, or ecosystem function) that would be expected in the absence of a proposed Project Activity. The Baseline scenario serves as a reference point against which outcomes resulting from the Project Activity can be measured to determine the net impact or benefit of those efforts. A baseline can be static, dynamic, project specific, or based on performance standard (or a combination of those).

Buffer Pool - A tool to mitigate credit class or project-specific risk factors associated with unintentional or intentional reversal events, or overestimation of credits issued. Buffer pools hold credits that cannot be sold to buyers, and reserve credits for potential cancellation from the Registry System to maintain accurate credit accounting.

Buyer - An individual or organization that is purchasing credits from the registry.

Cancelation - The permanent removal of an ecological credit from circulation in the Regen Registry System for purposes other than retirement. Reasons for cancellation could include reversals, non-compliance with Regen Registry or Credit Class standards, or migrating credits to a different registry system.

Credit - A digital asset, representing a quantifiable unit of measurement either tied to ecological or social benefit resulting from the implementation of a Project Activity, or tied to the successful implementation of a Project Activity rather than an explicitly measured benefit. Credits within the Registry System are tracked on Regen Ledger, and can exist in a Tradable, Retired, or Canceled state.

Credit Class - A standard or protocol which details the procedures for project registration and credit issuance for a specific set of Project Activities which provide ecological and social benefits. Such benefits could include GHG removal, emission reduction, environmental stewardship, and enhanced ecosystem function. Credit Classes define the structure, procedures, and prerequisites for registering projects and issuing credits. Typically, a Credit Class will establish one or more Approved Methodologies used to measure the impact of Project Activities. It also lays down the programmatic rules and stipulations for project registration and credit issuance, such as project eligibility criteria, Buffer Pool management and Verification requirements.. In certain instances, the process for measuring, reporting, and verifying ecological and social benefits might be directly integrated into a Credit class, rather than being outlined in a separate methodology.

Within the Regen Registry, each Credit Class operates as an independent standard or crediting program. This means that every Credit Class can possess its unique governance and issuance structure, buffer pool requirements, project registration prerequisites, and distinct group of project actors, all of which operate autonomously from other Regen Registry Credit Classes.

Credit Classes on Regen Registry also have a specific set of features provided by Regen Ledger (the Registry System used by Regen Registry). These include:

• A governance body known as the Credit Class Admin

• A set of on-chain anchored metadata defining the rules and regulations for this Credit Class, as well as a list of Approved Methodologies which may be used by projects registered in this Credit Class

• One or more on-chain Registry Agents who manage project registration and credit issuance

Credit Class Admin - An individual, organization, or group of individuals/organizations (private or public) that manages the rules and conditions necessary to issue credits under a Credit Class. The Credit Class Admin is responsible for maintaining the credit class protocol, list of approved methodologies, and subsequent documentation in accordance with the Regen Registry Program Guide. Additionally, the Credit Class Admin maintains the list of approved Registry Agents, maintains on-chain metadata for the Credit Class, and (if applicable) manages Buffer Pool Accounts for the Credit Class. To the extent that active management of the above allows, Credit Class Admins are responsible for ensuring integrity of all ecological claims accounted for in the Credit Class.

Credit Class Admins have sole control over the above on-chain components of a Credit Class, and can also transfer Credit Class Admin privileges to a new address at their own discretion. Credit Classes may be delisted from Regen Registry if a Credit Class Admin falls out of compliance with the Regen Registry Program Guide.

Credit Designer - An individual or organization that develops a new Credit Class or updates an existing one.

Crediting Period - The finite length of time for which a Project Plan is valid, and during which a project can generate credits.

Credit Vintage - The Credit Vintage refers to the year in which ecological credits were issued. Credit Vintages can generally refer to the year in which GHG emission reductions/removals or other ecological and social benefits occurred, however, the exact time frame might span multiple years for longer Reporting Periods.

Issuance - Issuance is the act of recording and assigning initial ownership of quantified ecological outcomes and carbon offsets in the form of a digital asset, known as credits, on the Regen Registry System, a public blockchain for recording all data, information, and transaction history related to carbon credits and other environmentally-related assets.

Earth Steward - The individual or organization that is implementing a Project Activity. This can be a farmer, rancher, conservationist, forester, fisherman, etc.

Land Owner - The individual or organization that holds title to the land where the project is occurring.

Methodology - A specific set of scientifically based criteria and procedures which outline the process for monitoring, reporting, verification of ecological and social benefits and practices for a defined Project Activity or set of Project Activities. This can include setting project boundaries, determining the Baseline Scenario, quantifying net GHG emission reductions or removals, measuring improvements in ecosystem function, and specifying monitoring procedures.

Methodology Developer - An individual or organization that develops a new Methodology or updates an existing one.

Monitor - An individual or organization that is contracted to measure the benefits / indicators defined in a given Credit Class based on the stipulations in the Approved Methodology.

Monitoring - The ongoing, systematic process of collecting and analyzing data to track the ecological and social benefits provided by a Project Activity, following the guidelines of an Approved Methodology.

Permanence Reversal Buffer - A dedicated Buffer Pool account that allocates a percentage of credits from each issuance in order to mitigate permanence related reversal risk, i.e. GHG removal reversal that has occurred over the permanence period of the project.

Project Activity - The specific land management practice or conservation activity employed by a project to support ecological or social benefits.

Project Area - The geographic area in which Project Activities are implemented.

Project Boundary - The geography within which the direct and indirect environmental, economic, and social impacts of the project are accounted for. This includes the Project Area as well as areas that may be indirectly affected, including potential offsite changes in GHG emissions or other ecological impacts attributable to the project’s implementation.

Project Developer - The individual or organization responsible for the detailed management of the project. The project developer, who can be the land steward or a third party, handles detailed planning, design, construction and implementation of the project.

Project Page - The dedicated web page for a given project on the registry. It provides an overview of the project, the activities taking place, timeline, images, maps, documentation, and more. All information on the Project age will be stored on Regen Ledger.

Project Plan - The document used to apply for Project Registration under a given Credit Class. The Project Plan describes the Project Activity or Activities, demonstrates project eligibility requirements, establishes project boundaries, specifies project stakeholders, justifies application of the Credit Class and Methodology, and more.

Project Proponent - The individual or organization that advocates for a project, identifies its requirements, and drives its initiation. The Project Proponent serves as the main point of contact with the Registry Agent throughout the course of the project and is responsible for initiating project registration, submission of all materials required by the Credit Class, Methodology, and Program Guide, and coordinating project actors. The Project Proponent must ensure correctness and compliance of all submitted documentation with the standards outlined in the Credit Class, Methodology, and Regen Registry Program Guide prior to to ensure credit quality. The Project Proponent receives the credits upon issuance and is responsible for coordinating sale and distribution between project actors.

Project Start Date - The date on which the project commences and begins generating and accounting for GHG emission reduction or removals or other ecological and social benefits. The Project Start Date may be before or after the project registration date as stipulated in the Credit Class. The Project Start Date marks the beginning of the Crediting Period.

Project Termination - The moment when a project that was registered on Regen Registry is canceled during its project term.

Regen Registry - A comprehensive program, platform, and process designed to establish community standards and legal frameworks for quantifying, monitoring, and trading ecological credits and managing other types of ecological claims. Regen Registry offers processes and tools for setting standards for Methodology and Credit Class development and approval, establishing and upholding frameworks for decision-making processes and appeals, and overseeing the use of the Regen Registry System by stakeholders using Credit Classes registered under the Regen Registry.

Central to its operation is the active engagement of the community. Designed with modularity in mind, the Regen Registry promotes shared decision-making among stakeholders. These stakeholders have the ability to propose and vote on pivotal decisions, form committees to supervise specific facets of the registry process, and collaboratively address disputes or challenges. As of Q3 2023, the stewardship of the Regen Registry is undertaken by RND PBC.

Registry Agent - The individual or organization appointed by the Credit Class Admin that operates the Registry System to register projects and/or issue credits under a given Credit Class. The Registry Agent is responsible for maintaining accurate accounting and ensuring compliance of registered projects, issued credits, and other ecosystem service claims as set forth in the Regen Registry Program Guide, Credit Class, Approved Methodology, and Project Plan. The Registry Agent is also responsible for ensuring updates made to the Registry Program, Credit Class, Approved Methodology and Project Plan are, if applicable, applied to existing projects in a way that is transparent and fair.

Selection of the Registry Agent is a crucial part of establishing checks-and-balances for credit issuance. As such, acceptance of Credit Classes to be registered under Regen Registry is contingent upon having a Registry Agent that has been approved or appointed by RND PBC as the stewards of Regen Registry.

Registry System - The technical infrastructure responsible for tracking information and claims related to ecological state. This system encompasses specific business logic, computer code, and programs that facilitate certain functions associated with the Regen Registry. While the Regen Registry sets the standards and frameworks, the Registry System provides the technical means to implement these functions. Built atop Regen Ledger, the Registry System's capabilities include, but are not limited to, registering projects, monitoring the issuance, ownership, transfer, and retirement (or cancellation) of ecological credits, anchoring and signing data, and transparently tracking decision-making practices.

Regen Ledger serves as the foundational blockchain layer upon which the Registry System operates to ensure transparency, security, and decentralization verification of all transactions and activities. The Regen Ledger is open-source and is publicly accessible.

Reporting Period - A period of time following the methodology guidelines in which Monitoring and Verification activities are completed.

Retirement - The permanent removal of an ecological credit from circulation in the Registry System after it has been claimed.

Reversal - A situation where project outcomes, such as carbon removals, improvements in biodiversity, or successful implementation of a practice are unexpectedly reversed. Reversal events can happen due to a variety of reasons, including natural disasters, changes in land use, poor project management, or failure to comply with project protocols.

Site - The location where a project implements the Project Activity or Activities. A project area does not need to be continuous and can have multiple sites.

Validation - The systematic, independent third-party assessment of a project prior to registration to determine whether a project conforms to the rules and requirements outlined in the Regen Registry Program Guide, Credit Class, and Approved Methodology, and evaluates the reasonableness of assumptions, limitations, and methods that support claims about the future outcome of Project Activities.

Verification - The systematic, independent, and documented assessment by a qualified and impartial third party of the Monitor’s assertions for a specific Reporting Period.

Verifier - An individual or organization that is contracted to execute the verification requirements stipulated in a given Credit Class.

Methodology Definitions

Co-Benefit - The Intergovernmental Panel on Climate Change (IPCC) defines co-benefits of climate change mitigation as the positive benefits related to the reduction of greenhouse gasses. We define it more broadly as a benefit that is achieved along with the main indicator tracked and promoted in a given credit - which need not be a reduction of GHG. For example, a biodiversity credit might mainly promote the protection of a certain species and at the same time offer co-benefits, such as protection of water resources.

Concept Note - Means a submission of a methodology idea.

Monitoring, Reporting, Verification Definitions

Baseline Report - The report that summarizes the Baseline Scenario.

Monitoring Report - The report that summaries the outcomes of the Monitoring Round.

Monitoring Round - A scheduled time following the methodology guidelines in which a monitor performs the measurement or estimation of an ecological indicator(s).

Monitoring Service Provider- An individual or organization that is contracted to measure the benefits/indicators in a given Credit Class based on the requirements of the approved methodology.

Project Initial Monitoring Date - The date when the baseline measurement was performed. Verification - A systematic, independent, and documented assessment by a qualified and impartial third party to the benefits assertions for a specific reporting period.

Verifier Services Provider - An individual or organization that is contracted to execute the verification requirements in a given Credit Class.

Acronyms

• GHG - Greenhouse Gasses

• IPCC - Intergovernmental Panel on Climate Change (IPCC) is an intergovernmental body of the United Nations that is dedicated to providing the world with objective, scientific information relevant to understanding the scientific basis of the risk of human-induced climate change.

• AFOLU - Agriculture, Forestry and Other Land Use; a category of carbon credit projects that are related to agriculture, forestry, and other land uses (e.g. conservation).

• RND PBC - Regen Network Development, Public Benefit Corporation , the entity developing and operating the Regen Registry.

• SDG - the United Nations’ Sustainable Development Goals.

• GIS - Geographic information system is a conceptualized framework that provides the ability to capture and analyze spatial and geographic data.