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The Rimba Raya Biodiversity Reserve REDD Project

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G3.4. <strong>Project</strong> Lifetime, Accounting Period, andImplementation ScheduleDefine the project lifetime and GHG accounting period and explain andjustify any differences between them. Define an implementationschedule, indicating key dates and milestones in the project’sdevelopment.<strong>Project</strong> Lifetime and GHG Accounting Period<strong>Project</strong> lifetime. <strong>The</strong> official lifetime for the <strong>Rimba</strong> <strong>Raya</strong> projectis 60 years, equal to the term of the IUPHHK-­‐RE concessionlicense issued for the <strong>Project</strong> Area by the Minister of Forestry.This license is for an ecosystem restoration concession, and thereare mandated forest restoration requirements over the life of thelicense.Accounting period. <strong>The</strong> GHG crediting period for the project is30 years, consistent with the date determined by the BaselineScenario. <strong>The</strong> project has adopted a planned deforestationapproach with oil palm as the driver of deforestation. Givenestimated peat depths in the <strong>Project</strong> Area, our methodologyestimates that all peat deposits would have been completelyoxidized in the “without project” scenario at the end of thisperiod, marking a natural conclusion to the crediting period.Mechanisms have been put in place to ensure adequate fundingfor mandated ecosystem restoration activities from years 30 to60 and for all major project activities in perpetuity after the GHGcrediting period. A portion of the credits generated by theproject will be sold, and the revenues invested in an endowmentfund explicitly designated for project continuity after creditingrevenues expire (see Section G3.7, below). In addition, many ofthe major project activities are designed to become self-­‐sustaining over the project lifetime, such that they will notrequire crediting revenues to continue after the project comes toan end.Certification schedule. <strong>Project</strong> proponents expect to undertakeannual certification of carbon credits for the first ten years of theproject, followed by certification every two years for theremaining twenty years, as indicated in Table 27:VerificationNumberTable 27. Verification Schedule for the<strong>Rimba</strong> <strong>Raya</strong> Crediting PeriodVerificationYear VintageYearNumberVintage1 2010 2009 11 2021 2019-­‐20202 2011 2010 12 2023 2021-­‐20223 2012 2011 13 2025 2023-­‐20244 2013 2012 14 2027 2025-­‐20265 2014 2013 15 2029 2027-­‐20286 2015 2014 16 2031 2029-­‐20307 2016 2015 17 2033 2031-­‐20328 2017 2016 18 2035 2033-­‐20349 2018 2017 19 2037 2035-­‐203610 2019 2018 20 2039 2037-­‐2038148

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