Verra is launching a public consultation for minor revisions (PDF) (methodology development ID #M0267) to VM0045 Methodology for Improved Forest Management Using Dynamic Matched Baselines from National Forest Inventories, v1.0. The revisions will enable project proponents to differentiate between Verified Carbon Units (VCUs) based on greenhouse gas emission reductions and VCUs based on carbon dioxide removals.
VM0045 includes the quantification of both emission reductions and removals. However, in its current form, it does not allow proponents to differentiate between these outcomes and quantify the exact number of VCUs resulting from reduction or removal activities, respectively. Verra is therefore proposing updates to the equation in Section 8 of the methodology to facilitate this distinction. The American Forest Foundation (external) is supporting the review and modification process.
This revision would ensure that proponents selecting VM0045 can apply the respective mitigation outcome label to the VCUs that their projects generate. The mitigation outcome label, a new market label for VCUs, was released in the August 2023 update to the VCS Standard, v4.5 (PDF). Detailed information about the use of this label is available in the Mitigation Outcome Type Label Guidance, v1.1 (PDF).
To provide feedback on the proposed revisions, please complete the M0267 VM0045 comment template (xlsx). Completed templates should be submitted by January 15, 2024.