Verra intends to develop a long-term monitoring system for the Verified Carbon Standard (VCS) Program to track potential reversals in AFOLU projects and improve their non-permanence risk management. The system would remotely monitor all VCS AFOLU projects for reversals that occur beyond the crediting period and would enable Verra to adjust the Non-Permanence Risk Tool buffer withholdings based on observed losses. The monitoring system would use remote sensing and emerging technological innovations, such as machine learning and advanced sensor platforms, to identify reversals within VCS project boundaries from any cause, including human-induced deforestation, fires, and other natural disturbances.
With the launch of the proposed monitoring system, the VCS Program would become the world’s first voluntary carbon market crediting program to monitor reversals over the long term and compensate potential losses through a buffer, ensuring the highest level of transparency and environmental integrity for AFOLU credits.
The public consultation is open through 14 February 2022. Comments may be submitted to Rishi Das, Manager, Technologies for Natural Climate Solutions, at email@example.com. Details of a webinar about this consultation will be shared in Verra’s January newsletter. Read the public consultation documents.