Verra has launched an open call for projects to pilot its SD VISta Nature Framework (PDF) and biodiversity methodology. Interested project proponents are invited to apply by August 4, 2023. Pilot projects will have the opportunity to help shape the Nature Framework, and will be prepared to start the registration process once Verra publishes them.
The Nature Framework seeks to drive finance to critical nature conservation and restoration activities, while helping to meet the Global Biodiversity Framework (opens in a new tab) goals and targets. Verra plans to release a draft version of the Nature Framework for public consultation in September 2023.
Project proponents using the Nature Framework will be able to verify the biodiversity outcomes of their projects and issue tradable nature credits as standalone assets. Companies and investors can buy nature credits to support high-quality projects and local communities while derisking their value chains and contributing to a nature-positive world.
The Nature Framework will outline the core concepts and principles for nature credits, including social and environmental safeguards, that will ensure their integrity and quality. The Nature Framework will provide information about the characteristics of standardized units and their measurement, including additionality, project time commitment, credit durability, and baseline scenario.
The purpose of the pilot is to test the clarity, reasonableness, local appropriateness, scalability, and usability of the draft Nature Framework.
Details about the SD VISta Nature Framework piloting process, including criteria and application instructions, can be found in the Terms of Reference (PDF). Verra welcomes applications from conservation and restoration projects from all geographies, ecosystems, and biomes.
The piloting process is expected to start in early September.