WASHINGTON — Dec. 12, 2024 | Verra announced today that the Integrity Council for the Voluntary Carbon Market (ICVCM) has officially approved the innovative Afforestation, Reforestation, and Revegetation (ARR) methodology in the Verified Carbon Standard (VCS) Program as meeting the requirements of the Core Carbon Principles (CCPs) Assessment Framework.
With this approval, projects using VCS Methodology VM0047 Afforestation, Reforestation, and Revegetation, v1.0 will receive CCP labels for credits they generate. The ability of ARR projects to secure CCP labels underscores the robustness of VM0047, providing buyers of carbon credits with confidence that they are investing in high-impact, high-integrity projects around the world. In turn, encouraging greater investment in these initiatives will facilitate the scaling up of nature-based solutions for carbon removals.
Mandy Rambharos, CEO, Verra
About Verra's Innovative ARR Methodology
Released in October 2023, VM0047 applies to activities anywhere in the world that increase the density of trees or other types of woody vegetation. A key feature of VM0047 is its first-time implementation of a carbon accounting approach that uses remote sensing and enables proponents to quantify the impact of their project by comparing it to a similar area in real time. For projects where this approach is not practical because planting activities are dispersed (e.g., urban forestry, agroforestry) and where land use does not change, VM0047 offers an alternative approach that requires a complete counting of all plantings.
Both approaches were approved as meeting the criteria of the CCPs Assessment Framework.
Contact:
Media Inquiries: Erdem Koch | ekoch@verra.org
# # #
Verra is a global leader helping to tackle the world’s most intractable environmental and social challenges. As a mission-driven nonprofit organization, Verra is committed to helping reduce greenhouse gas emissions, improve livelihoods and protect natural resources by working with the private and public sectors. We support climate action and sustainable development with standards, tools and programs that credibly, transparently and robustly assess environmental and social impacts and enable funding for sustaining and scaling up projects that verifiably deliver these benefits.