Verra has published an updated version (v1.4) of Verified Carbon Standard (VCS) Methodology VM0010 Improved Forest Management: Conversion from Logged to Protected Forest. The revisions clarify applicability conditions and exclude activities that would take place on planted forests. This updated version also enables project proponents to differentiate between Verified Carbon Units (VCUs) based on greenhouse gas emission reductions and VCUs based on carbon dioxide removals.
These updates are part of Verra’s efforts to strengthen the VCS Program’s Improved Forest Management methodologies through updating and streamlining IFM methodologies to increase integrity.
VM0010 quantifies the greenhouse gas benefits generated from preventing the logging of forests. It is applicable where the baseline scenario includes selective logging and where a project ensures that forest use is limited to activities that do not result in commercial timber harvest or forest degradation. Eligible ecosystems include tropical, temperate, and boreal forests, and exclude planted forests.
The updates follow a public consultation held from June 10 to July 10, 2024.
The key updates to VM0010 are as follows:
- Differentiating between Verified Carbon Units (VCUs) based on greenhouse gas emission reductions and VCUs based on carbon dioxide removals
- Modified applicability condition to exclude planted forests
- Modified applicability condition to restrict baseline scenario activity to selective logging
- Restriction of ongoing forest growth accounting to individual trees, species, strata, and tree stands to be harvested under the baseline scenario
- Removal of equation for total leakage and addition of new equations for quantification of greenhouse gas emission reductions and carbon dioxide removals and associated VCUs
Implications for VCS Projects
- All projects already registered under VM0010, v1.3 will be required to update to the newest version of the methodology at their next baseline reassessment period.
- Projects seeking to complete registration under VM0010, v1.3 must have requested listing on the Verra Registry before January 25, 2025, and complete validation by October 25, 2025. These projects will still be required to update to the newest version of the methodology at their next baseline reassessment period.
- Projects seeking to complete baseline reassessment or crediting period renewal using VM0010, v1.3 must complete validation of their reassessed baseline and crediting period renewal by October 25, 2025. These projects will be required to update to the newest version of the methodology at their next baseline reassessment.