Change to VCS Nomenclature Makes No Change to Rights and Obligations of VCUs
To reflect better the role of the VCS Program and the VCS Association in today’s evolving carbon market, with effect from 1 March 2011, the Voluntary Carbon Standard and Voluntary Carbon Standard Association will be renamed as the “Verified Carbon Standard” or “VCS” and the “Verified Carbon Standard Association” or “VCSA”. These changes are changes in nomenclature only and imply no changes whatsoever to the rules and requirements under the VCS Program.
Also with effect from 1 March 2011, Voluntary Carbon Units will be renamed as “Verified Carbon Units” or “VCUs”. This is a change in nomenclature only, and the rights and obligations represented by, or related to, Verified Carbon Units remain unchanged from those pertaining to or in respect of Voluntary Carbon Units.