VCS 2022 Q4 Update Announcement (Release Date: 21 December 2022)
- Introduction of requirements for geologic carbon storage (GCS) activities, including associated tools and requirements
- Updates to the requirements for VCS projects to help avoid double-counting in Scope 3 emissions inventories
- Updates to the long-term average GHG benefit calculation and application for afforestation, reforestation, and revegetation projects, as well as improved forest management projects
- Release of the VCS Methodology Development and Review Process, replacing the Methodology Approval Process
The full list of updates released, and their effective dates can be found in December 2022 VCS Program Update: Overview of Substantive Updates to Program Rules and Requirements and Effective Dates (PDF).
Verra held a webinar on Monday, 16 January 2023, at 12:00 pm ET to provide an overview of the above VCS Program updates.
July 2022 Consultation
This public consultation was open from 13 July to 11 September 2022. On 27 July 2022 at 11:00 AM EDT, Verra held a webinar to provide an overview of the proposed updates. Watch the recording (opens on Vimeo.com) or view the slides (PDF). For more information, see:
August 2022 Consultation
This public consultation was open from 31 August to 30 September 2022. On 8 September 2022 at 11:00 AM EDT, Verra held a one-hour webinar to provide an overview of the proposed updates. Watch the recording (opens on Vimeo.com) or view the slides (PDF). For more information, see:
Update Overview (Release Date: 22 June 2022)
– Revised requirements and methods for estimating uncertainty;
– New requirements to mitigate non-permanence risk in grouped projects with multiple activity instances;
– Clarification of peer-reviewed literature requirements; and
– Formalized rules for VCU labels.
View the 2022 Q2 VCS Program Update (PDF) to find effective dates for these updates.
Announcement: Subsequent Project Instance Enrollments (PDF) (Release Date: 22 June 2022)
Update Overview (PDF) (Release Date: 29 April 2022)
– Clarifies that if project proponents use methodology elements (e.g., methodologies, modules, and tools) from VCS-approved GHG programs to develop projects in the VCS Program, they must use the latest version of the approved GHG program methodology element. Relevant grace period lengths apply.
Update Overview (PDF) (Release Date: 19 April 2022)
– Establishes that the VCS project start date for Clean Development Mechanism (CDM) Component Project Activities (CPAs) seeking to register in the VCS Program is the date on which each CPA began reducing or removing GHG emissions.
– Clarifies that the definitions for ‘Project Start Date’ and ‘Project Crediting Period Start Date’ are the same.
– Additional details about effective dates for the conversion of credits issued to CDM CPAs.
– Clarifies the grace periods for using previous versions of VCS methodologies.
February 2022 Consultation
– Updates to the Agriculture, Forestry and Other Land Use (AFOLU) Non-permanence Risk Tool (PDF); if approved, these changes will also be reflected in the Jurisdictional and Nested REDD+ (JNR) Non-permanence Risk Tool;
– Updates to uncertainty requirements;
– Introduction of tonne-year accounting;
– Guidance for landowners’ successive participation in different VCS projects;
– Clarification on managing non-permanence risk if one instance of an activity ceases to be part of a grouped project and if a project implementing multiple activities terminates one of its activities; and,
– Revised requirements for qualifying peer-reviewed literature.
This public consultation was open from 7 February 2022 to 8 April 2022.
– Consultation Document: Proposed Updates to the VCS Program, February 2022 (PDF)
– Additional Background Information on Tonne-Year Accounting (PDF)
– Watch the Webinar Recording
– View the Webinar Slides (PDF)
– Summary of Comments (PDF)
Update Overview (Release Date: 20 January 2022)
– Required reporting on contributions to Sustainable Development Goals (SDGs);
– The introduction of requirements for dynamic performance benchmarks; and
– New and revised requirements for agriculture, forestry, and other land use (AFOLU) projects.
Effective dates for these updates can be found here.
View the 2022 Q1 VCS Program Update (PDF) to find effective dates for these updates.