Dear Colleague,
Welcome to Verra’s December Newsletter!
The year 2023 has been termed the “year of inflection” in the voluntary carbon market (VCM) – and nowhere was this more apparent than at COP28 in Dubai, where market stakeholders and high-profile leaders acknowledged the key role the VCM plays in advancing critically needed climate action and sustainable development.
During COP28, it was inspiring to see the standards setters find common ground and announce a groundbreaking collaboration to increase the positive impact of carbon markets. Singapore’s National Climate Change Secretariat (NCCS), together with Gold Standard and Verra’s Verified Carbon Standard (VCS) Program, will also work together to help countries better leverage and utilize carbon crediting programs to achieve their Nationally Determined Contributions under the Paris Agreement.
COP28 also gave us the opportunity to share some game-changing news about actions Verra will take to further increase trust in the market. We launched a new research initiative in partnership with Sir David King’s Climate Crisis Advisory Group to support the continuous improvement and ongoing development of the VCM. We also hosted a session to provide the latest updates on our “New Era for Verra” commitments.
We are confident that the VCS Program can contribute to a stronger market and that the Integrity Council for the Voluntary Carbon Market (ICVCM) will bolster the VCM’s role in advancing climate action. As such, we submitted our application for assessment by the ICVCM shortly before COP28.
Elsewhere, international negotiations around a global plastic treaty have been progressing at the meeting of the Intergovernmental Negotiating Committee (INC-3) in Nairobi, Kenya. Our Plastic Team was on the ground to share recommendations and commentary with treaty negotiators about the role Plastic Credits can play in the context of such a legally binding instrument for reducing plastic pollution globally.
The Verra team has been busy advancing the work that underpins this global progress. Even as the year draws to a close, this monthly newsletter contains 28 announcements, more than any other edition in 2023. We are proud to share our progress with you and look forward to continuing these important efforts in the new year.
Stakeholder Updates
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- Photo courtesy of DelAgua Clean Cooking Grouped Project in Rwanda (Verra Project 4150)
Top News
- Verra Launches Research Initiative in Partnership with the Climate Crisis Advisory Group
- Independent Crediting Programmes Announce Ground-Breaking Collaboration to Increase the Positive Impact of Carbon Markets
- Joint Press Release: Singapore, Verra and Gold Standard Partner to Develop Playbook for Carbon Crediting Under the Paris Agreement
- Statement on Verra’s Application for ICVCM Assessment
- A New Era for Verra: December 2023 Update
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- Photo courtesy of FUNDAECO, REDD Project for Caribbean Guatemala: The Conservation Coast (Verra Project 1622)
VCS Program
Program Updates
- Verra Announces First Application of Article 6 Authorized Labels to VCUs from a Cookstove Project in Rwanda
- Verra Initiates Remote Sensing Analysis Pilot with Mantle Labs for Review of Small-Scale Methodology Rice Projects
- Verra and Rabobank Share Carbon Market Knowledge to Increase Rabobank’s Abilities to Engage in the Carbon Markets
- Verra Launches Public Consultation on ABACUS Market Label for Nature-Based Removal Credits *DEADLINE EXTENDED*
Methodology Updates
- Verra Advances the Development of New VCS Rice Methodology
- Public Consultation on New Cookstoves Methodology
- Verra Outlines Steps to Strengthen Improved Forest Management Methodologies
- Public Consultation on Methodology for Early Retirement of Coal-Fired Power Plants
- Verra Releases Revised Methodology for Avoided Emissions from Biomass Waste
- Public Consultation on Tool to Calculate Emissions from Electricity Consumption
- Public Consultation: Minor Revisions to Improved Forest Management Methodology to Enable Distinction between Emission Reductions and Removals
- Verra Concludes Consultation on the Use of Non-Native Monocultures in the VCS Program
- RFP: Revisions to Biochar Methodology
- Reminder: New VCS Program Rules and Requirements Related to AFOLU Non-Permanence Risk Tool Effective January 1, 2024
- Verra Publishes Clarifications to the VCS Standard and Methodology Requirements
New REDD Methodology
- Verra Launches New Era of Forest Protection with Transformative REDD Methodology
- Setting the Standard: Verra’s Revolutionary New REDD Methodology
- Verra Inactivates and Updates Existing REDD Methodologies
- RFP: Forest Concession and Timber Harvest Permit Conversion Rate Research
- Verra Updates Existing REDD Methodology and Module, Inactivates REDD Module
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- Photo courtesy of Project Hara Kal Recovery of Ocean and Nature Bound Plastic from Villages in Kerala, India (Verra Project 3744)
Plastic Program
General Updates
Regular Updates
General
Verra Staff at Events
Verra staff participate regularly in events. For a comprehensive list, please check our events page. If you’d like to invite a Verra team member to speak at your event, please contact events@verra.org.