Next week, VCS will release one of our most anticipated and exciting set of program updates. The 3Q updates include several developments that will expand eligibility to new project types and, for the first time ever, government programs, while simplifying project registration and improving transparency and oversight. I am also pleased to report continued growth of VCS and the carbon market.
Program Updates: Jurisdictional REDD+, Wetlands and More
On 4 October, VCS will release updates to several Version 3 program documents. These include groundbreaking jurisdictional REDD+ requirements, which will create the first framework for accounting and crediting emission reductions from state, provincial and national REDD+ policies and programs. In addition, the first requirements for wetlands restoration and conservation activities will enable new opportunities for protecting a broad range of wetland ecosystems. These updates and more will have several implications for projects and methodologies. Stay tuned!
New VVB Guidance Materials and Online Portal
On 4 October, VCS will release the VCS Validation and Verification Manual, the first guidance manual for validating and verifying VCS projects. In addition, VCS will debut a new website that will provide validation/verification bodies (VVBs) with accessible, timely information to guide their work on VCS projects.
VCUs: 100 Million and Counting
In August, VCS issued our 100 millionth Verified Carbon Unit (VCU) to a biomass energy project in India. This milestone is a significant indication of the voluntary carbon market’s growing supply of high-quality projects and illustrates what a force VCS has become for global carbon reduction. According to the U.S. Environmental Protection Agency, 100 million VCUs are roughly equivalent to taking almost 20 million cars off the road! With the development of new project types, new methodologies and standardized methods, 100 million is only the beginning.
Learn more: VCS Project Database
VCS Expands Worldwide
VCS is growing by leaps and bounds to meet the growing opportunities of the carbon market. In September, we welcomed aboard Zhuli Hess as our China Director, and we added Paula Tassara as a new Program Officer in Chile to support projects throughout South America. At headquarters in Washington, D.C., Summer Montacute has started an exciting new position as REDD+ Coordinator, reaching out to jurisdictions interested in using our new jurisdictional framework, while Garrett Russo has joined us as Communications Director to direct and expand our global communications operation.
Learn more: Management and Staff
At VCS, we expect the program updates will continue to strengthen and grow the market. We look forward to working closely with you to achieve these goals and, with your support, further the market’s expansion.