NFS Registry Vault Facility


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Click here to read the NFS Statement on the utilization of Blockchain and transition of NCCs for tokenization to on-chain platforms for NFS projects

Introduction

The NFS Registry provides a full trace-to-source issuance, tracking and registry system for all Natural Capital Credits (NCCs) issued under the Natural Forest Standard (NFS). The NFS Registry function is to provide a secure platform which allows complete traceability of all NCCs issued, transacted and retired on the NFS Registry.

However, the NFS recognises the value of providing a secure, transparent and credible mechanism for Project Developers and NFS Registry Account Holders to establish a blockchain-based token that enables the transition of all carbon, social and biodiversity values attributed to NCCs to an on-chain token, upholding the integrity of NCCs and their underlying environmental value.

Purpose of the Vault

There may be circumstances where Project Developers and/or NFS Registry Account Holders wish to have the ability to transition NCCs for tokenization within a blockchain platform.

The NFS recognises the value of providing a responsible and legitimate function to provide project developers and NCC account holders with the option to transition NCCs and their underlying carbon, social and biodiversity values into a separate platform.

To ensure against double-counting and singularity of issuance for all NCCs, there must be a procedure in place for this transition, removing the associated NCCs from circulation within the NFS Registry and securely locking them away. The NFS Registry Vault can provide this function for NCCs to be transitioned, tokenized and transacted on a blockchain ledger.

To enable NCCs to be locked away from circulation within the NFS Registry, and tokenized for transaction within a third-party ledger (particularly suited to blockchain and Web3 technologies), the NFS Registry offers a Vault function.

NCCs that transition to the Vault are neither cancelled nor retired and can therefore retain their existing carbon, social and biodiversity attributes and values for inclusion into the third-party ledger and tokenization.

To read the full Vault Facility document detailing its function, requirements and processes, see below:

NFS Registry Vault Facility

Published 8th March 2022

Please contact the NFS Registry Administration Team for any further information.

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