Q4
December 2021 Consultation
– Proposing the development of a long-term reversal monitoring system
This public consultation was open from 15 December 2021 to 14 February 2022. We are reviewing all input received and will post a summary of comments.
– Consultation Document: Proposal to Create a Long-term Reversal Monitoring System (PDF)
– Summary of Public Comments: Proposal to Create a Long-Term Reversal Monitoring System (PDF)
– View the Webinar Slides (PDF)
November 2021 Consultation
– Introducing requirements to make sustainable development reporting mandatory
These updates were open for consultation from 04 November to 05 December 2021.
– Consultation Document: Proposed updates to the VCS Program, November 2021 (PDF)
– Summary of Public Comments: Proposal for Mandatory Sustainable Development Contributions Reporting (PDF)
Q3
August 2021 Consultation
– Introducing requirements for dynamic performance benchmarks;
– Adding a pipeline listing deadline for all AFOLU projects and replacing the validation deadline with a pipeline listing deadline for AFOLU projects that are small-scale or generate removals;
– Revising project area requirements to allow tidal wetland projects to add land after the first verification;
– Modifying the language of the requirement related to the estimation of soil organic carbon stocks; and
– Updating a number of AFOLU project baseline requirements.
These updates were open for consultation from 23 August to 22 September 2021. We are revising all input received and will post a summary of contents in early November. We plan to finalize and release the updates to the VCS Program documents in Q4 2021.
– Consultation Document: Proposed Updates to the VCS Program, August 2021 (PDF)
– Summary of Public Comments: August-September 2021 VCS Program Update Proposals (PDF)
On 2 September 2021 at 11:00 am EDT, Verra held a one-hour webinar to provide an overview of the proposals.
Q2
Update Overview (Release Date: 22 April 2021)
Consultation Summary (PDF)
– Required use of IPCC Fifth Assessment Report global warming potential values (revised from Fourth Assessment Report values). See Section 3.14.4 for details, including information on effective dates.
– Clarified that VCUs used in the context of Paris Agreement Article 6 mechanisms and international Paris-related programs such as CORSIA must meet requirements established under such mechanisms and programs, including those relating to double counting and corresponding adjustments. Project proponents must use VCU labels to demonstrate adherence to such requirements (Section 3.20.1).
– Clarified that VCUs used for voluntary carbon market purposes do not require the VCU labels mentioned above, though labelled VCUs may be used for voluntary market transactions if desired (Section 3.20.2).
– Further clarified eligibility conditions (effective dates) for projects registered under another GHG program (see Appendix 2 Document History).
Q1
Update Overview (Release Date: 5 February 2021)
– Clarified eligibility conditions (effective dates) for projects registered under an approved GHG program and for GHG credits seeking to convert into VCUs (see Errata & Clarifications, VCS Standard, v4.0 (PDF)).