Any Agriculture, Forestry, or Other Land Use (AFOLU) or Geological Carbon Storage (GCS) project with non-permanence risk may apply, provided the project passes the respective non-permanence risk assessment (following application of the AFOLU Non-Permanence Risk Tool (NPRT) or GCS NPRT) and does not receive an unacceptably high risk score. Projects must also request issuance of Verified Carbon Units (VCUs) during the piloting period to participate.
Project proponents interested in participating may submit an Expression of Interest (EOI). Verra is accepting EOIs on a rolling basis. For further details on the application process, please refer to the VCS Program Durability Pilot to Address Non-permanence Risk: Overview and Application Process.
Yes, project proponents may submit an initial EOI and early-stage evidence (e.g., an insurance term sheet) for Verra’s consideration and then follow up with more substantive evidence of their chosen approach (e.g., a signed insurance policy). Verra will review the evidence upon receipt.
Verra will review the evidence of the chosen approach against the pilot’s minimum criteria and issue an approval or denial. At the project’s next verification, the validation/verification body (VVB) will assess the implementation of the approach.
Yes, while a project is participating in the pilot, the alternative approach will replace the project’s buffer pool contribution. Credits that would have been contributed to the pooled buffer account may instead be issued as VCUs.
Projects may still use buffer credits to remedy a reversal, but only for the portion of VCUs that were backed by the buffer. Reversal remedies must be applied proportionally across the buffer and the alternative approach (e.g., insurance).
| Approach 1: Pooled buffer | Approach 2: Insurance | |
|---|---|---|
| Total issuances per approach (VCUs) | 1000 | 500 |
| Total issuances to date (VCUs) | ||
| Reversal amount (tCO2e) | ||
| Proportion of remedy allocated to each approach | 1000/1500 – 67% | 500/1500 – 33% |
| Quantity of buffer credits and replacement VCUs canceled to remedy reversal | 250 x 0.67 = 167 buffer credits | 250 x 0.33 = 83 replacement VCUs |
No, Verra’s approved insurance policies for CORSIA cannot be used under the durability pilot. CORSIA insurance addresses the risk that an aircraft operator and a host country double claim credits used toward CORSIA. By contrast, insurance under the durability pilot covers the risk that previously verified carbon storage or avoided emissions are reversed, requiring the replacement of issued VCUs.
Yes, a project proponent may resume contributing to the AFOLU or GCS pooled buffer account to manage non-permanence risk. Within a single monitoring period, the project proponent may apply a combination of the pooled buffer and an alternative approach, provided that each vintage is covered in its entirety by one approach only. For example, the 2022 vintage is fully covered by insurance while the 2023 vintage is fully covered by the buffer.
If a project proponent subsequently decides to fully resume contributing to the pooled buffer, then the project shall contribute buffer credits (1) for the period during which it used an alternative approach, and (2) in an amount based on the risk rating applicable to the project during that period.
If Verra discontinues the pilot and no longer allows the use of insurance or fund-based approaches to address the risk of reversals, projects that participated in the pilot will be allowed to resume contributing to the buffer without making buffer contributions for the piloting years.
However, if a reversal occurs, the project proponent will not be eligible to use the pooled buffer to cover VCUs issued during the piloting period. In such cases, any affected VCUs will be marked as reversed on the Verra Registry until the reversal is remedied. The project proponent will be required to send a reversal report to all current holders of affected VCUs. Where the affected VCUs have been retired already, the current holders of those VCUs should report the reversal and any remedy in alignment with applicable greenhouse gas inventory guidance or requirements.
If a project proponent participating in the durability pilot fails to pay their insurance premium, and their policy lapses or is canceled as a result, they will be required to revert to contributing to the pooled buffer account for the affected period. This means the project proponent will need to contribute credits to the buffer in accordance with the VCS Program requirements for the period in which their coverage lapsed.
At present, no. Eligibility may be reconsidered in the future, depending on guidance from relevant bodies.
Log In 
Overview