Governance & Development
The Verified Carbon Standard (VCS) Program is managed by Verra with the support of the VCS Program Advisory Group. The Advisory Group is a multi-stakeholder body that helps ensure that the VCS Program serves its users in an effective and efficient manner, and drives practical and robust solutions to mitigating climate change.
Verra is committed to making certain that the VCS Program reflects the latest scientific research and is continually improved with respect to the consistency and accuracy of GHG emissions accounting. We follow ISEAL’s Codes of Good Practice in the ongoing development of the VCS Program.
Previous versions of the VCS Program can be found here.
The current version, VCS Version 4, was developed through a consultative process comprising two 60-day public consultations and engagement with many individual stakeholders, including project developers, methodology developers, validation/verification bodies, trade associations, NGOs, and other market participants.
Issues Currently Under Development
Between major version updates, Verra considers updates to the VCS Program documents intended to strengthen or expand the scope of the program and to ensure that projects deliver real, permanent, and additional emission reductions and removals. Issues currently under consideration are listed below.
May 2022 Consultation
- Creation of a new unit named the Projected Carbon Unit (PCU), formerly called the Early Finance Carbon Unit (EFCU), to support the development of VCS projects prior to the verification of GHG emission reductions/removals (ERRs) and issuance of Verified Carbon Units (VCUs).
- The public consultation was open from 3 May 2022 to 1 June 2022.
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
- Watch the Webinar Recording
- View the Webinar Slides
Previous Version 4 Updates
Initiative for Climate Action Transparency
Supporting countries around the world in the evaluation of the climate, sustainable development and transformational impacts of their policies and actionsLearn More >