Carbon Offset News: Major Announcement About World-Leading Forest Preservation and Restoration Standard
Washington, DC, March 4, 2021 — Today, Verra announced the strengthening of its flagship forest preservation and restoration standard, the world’s largest, which measures greenhouse gas (GHG) emission reductions and removals and issues carbon offset credits for use in global voluntary and compliance markets. These updates will strengthen the ability of forest conservation and restoration efforts to contribute to global climate goals.
A key update: the closer integration of project activities with jurisdictional (i.e., government-led) efforts in a way that is designed to build on the strengths of each:
- Projects are effective at delivering services to local communities and addressing local drivers of deforestation, and are more likely to appeal to the private sector;
- Governments can provide a supportive environment, including incentives, for forest protection and restoration, and can draw upon capital from buyer/donor countries.
Verra is also making several other changes, including providing new tools to establish project baselines based on jurisdictional data — ensuring alignment with national accounting.
More information can be found in the following resources:
- Press Release
- Briefer: The Future of REDD+ — 10 Years of Project Experience Delivers a Blueprint for the Future
- Media Briefing – Slide Deck
- Media Briefing – Recording: