Develop a Project
The VCS project cycle sets out the four major steps in developing an individual project to generate quality-assured GHG emission reductions and credits.
1: Choose a Methodology
The first step in the project development process is selecting a methodology applicable to the proposed project. This can either be an existing VCS methodology or one developed under an approved GHG program such as the Clean Development Mechanism (CDM). If an applicable methodology does not exist, project developers are welcome to propose their own.
2: Validate Project Description
Once a project is listed on the Project Pipeline, project proponents develop a complete project description using the VCS template and have it validated by an approved validation/verification body (VVB). This process determines whether a project meets all VCS rules and requirements. The PD can be developed before, during or after project design and implementation.
3: Verify Emission Reductions
When a project starts, project proponents monitor and measure GHG emission reductions or removals. All information for a given monitoring period, including calculations of GHG benefits, is documented in a monitoring report, using the VCS template. The monitoring report must be verified by an approved VVB.
4: Register Project & Issue VCUs
Projects must open an account and submit all required documents to a VCS registry operator in order to be registered on the Verra Registry and request issuance of VCUs. Projects can register upon validation or wait until they are ready to issue credits. All project information is listed publicly when projects are registered and VCUs issued.