SECTION 155:30-5-5. Performance criteria for state approved aggregators

  State approved aggregators shall do the following:

(1)   Gather the required information for each offset from participating landowners with whom they are contracted;

(2)   Submit offset documentation to the Commission pursuant to these rules;

(3)   Have verified by this program at least ten percent of the Oklahoma carbon contracts on which the applicant, applicant's company or representative is a contract signatory;

(4)   Maintain a monetary reserve to cover offset buyer losses caused by reversal;

(5)   Utilize safeguards to ensure that the risk of reversal is minimized and that, should any reversal occur, a mechanism is in place that guarantees that the reductions or removals will be replaced or compensated;

(6)   Establish and implement acceptable protocols for landowner contract non-compliance;

(7)   Track project information as required;

(8)   Report offset information to the state carbon offset registry pursuant to these rules;

(9)   Disseminate to the public reliable information about carbon sequestration in Oklahoma;

(10)   Encourage landowners to maintain contracted practices that sequester carbon and that result in the sequestered carbon remaining in place at least through the duration of the contract; and

(11)   Include the following information in landowner contracts:

(A)   Length of time the carbon sink shall be maintained;

(B)   Verification requirements;

(C)   Compensation protocol;

(D)   Reserve stipulations;

(E)   Landowner non-compliance stipulations; and

(F)   Clear explanation of who owns the rights to the offset.

[Source: (For information about related emergency rules, see Editor’s Note at beginning of Chapter); Added at 26 Ok Reg 1388, eff 7-1-09]