Verra has opened a public consultation on proposed updates to its Methodology Development Review Process (MDRP), which sets out procedures and rules for the development and review of new and existing methodologies in the Verified Carbon Standard (VCS) Program. This process is captured in the current VCS Program document, Methodology Development and Review Process, v4.4 (PDF). The consultation will run from December 18, 2024, through January 31, 2025.
Developing and revising methodologies is critical to expanding the VCS Program’s scope, improving its usability, and strengthening its integrity. The proposed updates to the MDRP aim to accelerate methodology and project development and climate action by improving process efficiencies and shortening development timelines.
Proposed updates to the MDRP include the following:
- Shift from third-party-led to Verra-led methodology development. Verra is well-positioned to lead the methodology development process due to its role in establishing and maintaining the overarching rules for the VCS Program. Verra-led development processes have also proven to be more efficient than those led by third parties. In addition, Verra will take a more active role in authoring methodologies in collaboration with stakeholders, consultants, working groups, and the public throughout the development process.
- Establish a Methodology Development Sponsorship Fund. A sustainable long-term funding mechanism will help cover the up-front costs of developing and revising methodologies and allow Verra to direct time and resources toward the actual process of developing and updating the most impactful methodologies.
- Shift from methodology assessment by a validation/verification body (VVB) to review by a group of technical subject matter experts. By engaging outside reviewers with methodology-specific subject matter expertise, Verra aims to increase the efficiency of the MDRP and align with the Integrity Council for the Voluntary Carbon Market’s requirement for independent expert review.
- Formalize a periodic review cycle for Methodology Idea Notes (MINs). Establishing a clear schedule for Verra’s review of MINs will effectively advance impactful climate action by enabling Verra to deliver on priority methodologies that are under development. To optimize Verra staff review capacity, MIN reviews were put on hold in July 2024. Verra will resume MIN reviews in the first quarter of 2025 for all MINs submitted by January 31, 2025.
Feedback
Please see the public consultation document (PDF) for the full background and details about the proposed updates.
Verra is piloting its new digital public consultation platform, which is hosted on the Verra Project Hub, for this consultation. Stakeholders will need to use the link provided to enter their personal details, confirm their email address, and access the online consultation form. For additional guidance, please review the user guide (PDF) for the new digital public consultation platform.
Comments may be submitted electronically via the online form by 11:59 pm Anywhere on Earth (UTC-12) on January 31, 2025. If you experience issues using the digital public consultation platform or have feedback on it, please contact hubsupport@verra.org.