Below is a list of all updates to VCS Version 4 documentation since 19 September, 2019 when Version 4 was first released.
VCS documentation is updated periodically and individual updates are incorporated into the relevant documents. Updates strengthen or expand the scope of the program.
Update Overview (release date: 22 April 2021)
- 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 proponent 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).
Update Overview (release date: 5 February 2021)
- Clarified eligibility conditions (effective dates) for projects registered under an approved GHG program and those for GHG credits seeking to convert into VCUs (see Errata & Clarifications, VCS Standard, v4.0).
Update Overview (release date: 9 March 2020)
- Revised the effective dates for projects registered with an approved GHG program, with project activities there were eligible under VCS Version 3, but are now excluded from the scope of the VCS Program (see Appendix 2 Document History).
Version 4 Released (release date: 19 September 2019)