Verra has released the Procedure to Change Methodology through a Project Description Deviation (PDF). The document provides guidance and requirements for updating projects in the Verified Carbon Standard (VCS) Program to a different methodology or methodology version for current and future monitoring periods, as enabled by section 3.21 of the VCS Standard, v4.7 (PDF).
Project proponents must update to the latest methodology version for current and future monitoring periods at crediting period renewal or baseline reassessment, or as prescribed in the grace period when a methodology is inactivated. However, project proponents may also choose to update to a different methodology or methodology version for current and future monitoring periods before the end of the methodology grace period using this procedure.
As such, this procedure is applicable to project proponents transitioning their projects to VCS Methodology VM0048 Reducing Emissions from Deforestation and Forest Degradation, v1.0, once activity data is available for their project area.
For a project proponent to change the methodology for a VCS project, they must do the following:
- Use the new methodology to prepare an updated project description that demonstrates how the project meets all requirements and applicability conditions of the new methodology
- Prepare additional project documentation, including a monitoring report and greenhouse gas emission calculation spreadsheets
- Have the documents assessed by a validation/verification body (VVB) at the next verification
- Submit all the documents for Verra review and approval
This new procedure is distinct from the recently released VCS Methodology Change and Requantification Procedure, which provides a pathway for project proponents to update the methodology or methodology version used for previously approved verification periods and reconcile the number of issued Verified Carbon Units (VCUs) based on the requantification under the new methodology.
Webinar
Verra will host a webinar on Thursday, October 24, 2024, at 10:00 am ET to provide a detailed overview of the VCS Methodology Change and Requantification Procedure and the Procedure to Change Project Methodology through a Project Description Deviation.
For any further questions, please contact programupdates@verra.org.