An educational course about carbon markets and the forestry sector is underway, thanks to the organizational efforts of Verra and FOREDOR, a Chilean company dedicated to promoting sustainable forest management. The two entities kicked off the course after signing a Memorandum of Understanding in May.

The course is part of Verra’s initiative to build the capacity of diverse stakeholders in the carbon markets. Classes are offered in Spanish and English; simultaneous translation is offered for classes taught in English.

The training provides insight into the development of forest projects, in particular, that generate carbon credits and certification processes under the Verified Carbon Standard (VCS) Program. At the close of the course, participants will know how to achieve certification of forestry projects in the VCS Program. They will also have a comprehensive understanding of voluntary and compliance carbon markets, as well as carbon credit transaction processes.

Course participants hail from 10 different countries in Latin America and Europe, and include consultants as well as representatives from private companies and universities.

Due to recent interest, Verra wishes to offer an interpretation of rules in the VCS Standard, v4.4 (PDF) about landowners’ eligibility to enroll in Verified Carbon Standard (VCS) projects after participating in a short-term harvest deferral program outside of the VCS Program. This statement does not constitute an update to or clarification of the VCS Standard, v4.4 or any other VCS Program rules.

Landowners that have participated in a short-term harvest deferral program other than the VCS Program (e.g., NCX) may enroll in a project under a VCS methodology. Per Section 3.22 of the VCS Standard, v.4.4, projects may register with the VCS Program after participating in another greenhouse gas (GHG) program if they and all participants enrolled in them comply with the following:

• Meet all VCS Program rules and requirements
• Disclose their previous participation in a short-term deferral program and provide evidence that they are not subject to any commitments or liabilities under that program
• Do not seek credit for the same GHG emission reduction or removal under the VCS Program and another GHG program
• Use the start date of prior participation in the short-term harvest deferral program as the project start date in the VCS Program
• Adhere to the validation requirements set out in Section 3.7 of the VCS Standard, v4.4

Further, the end of such a project’s total project crediting period shall be the earliest end date of all applicable project crediting periods, per Section 3.9.7 of the VCS Standard, v4.4. The project crediting period under a short-term harvest deferral program would be one year multiplied by the number of times a participant may re-enroll in that program. If the project crediting period of the harvest deferral program is not specified or exceeds the crediting period allowed in the VCS Program, the maximum VCS crediting period (100 years for Improved Forest Management projects) applies.

Verra is delaying the effective date for the Verified Carbon Standard (VCS) Program’s Scope 3 emissions double claiming requirements, previously set at 1 July 2023. Such double claiming occurs when an organization reports in its Scope 3 emissions statement a greenhouse gas (GHG) emission reduction or removal that is also associated with an issued VCU.

The affected requirements help address Scope 3 emissions double claiming by increasing transparency and can be found in Sections 3.23.7, 3.23.8, and 3.23.9 of the VCS Standard, v4.4 (PDF). These requirements will be revised in the next update to the VCS Program, currently scheduled for Q3 2023, with an effective date of 1 January 2024. The revised requirements will clarify what disclosures are required and define which projects are subject to these requirements.

Verra is extending the grace period for projects that are currently in development and planning to use CDM methodology AR-ACM0003: Afforestation and reforestation of lands except wetlands (external site) or AR-AMS0007: Afforestation and reforestation project activities implemented on lands other than wetlands (external site). In the coming months, Verra expects to release its new Afforestation, Reforestation, and Revegetation (ARR) methodology, which will replace these two CDM methodologies.

As Verra previously announced, “Projects that have completed pipeline listing prior to the approval and publication of the Methodology for Afforestation, Reforestation and Revegetation Projects may use CDM methodologies AR-ACM0003 and AR-AMS0007 if they complete validation and request registration within six months from the approval date of the new VCS methodology.”

In accordance with Section 3.21.3.4 of the VCS Standard, v4.4 (PDF), Verra has revised the grace period as follows:

• Projects using the CDM methodologies must be listed with a status of under validation within three months of the release of the new ARR methodology.
• All projects must complete validation within 15 months of the methodology release.

If you have any questions, please contact Spencer Plumb, Manager, Forest Carbon Innovation (splumb@verra.org).

Verra has issued an Erratum and Clarification to VCS Program Rules and Requirements (PDF), published 4 April 2023. This document clarifies the requirements pertaining to projects undergoing gap validation in Sections 3.22.4 and 3.22.6 of the VCS Standard, v4.4 (PDF). These updates are effective immediately and will be incorporated into the next version of the VCS Standard.

For any questions, please contact:

The Northern Kenya Grassland Carbon Project has been under Section 6 review since 10 March 2023, per the VCS Registration and Issuance Process, v4.3. During this process, the project is on hold and issuances of credits have been suspended. A Section 6 review can occur where Verra has identified concerns in relation to a project.

A Section 6, or quality control, review is triggered as soon as Verra becomes aware of a need to assess a project’s adherence to VCS rules and the applied methodology. If Verra identifies any material non-conformances during the review, the validation/verification body (VVB) for the project must provide a written response to the findings issued by Verra. The VVB must also undertake a root analysis to determine the cause for any quality control issues.

Verra does not comment on projects which are subject to a Section 6 review. Once the review is completed, we will notify the validation/verification body of any findings and update the project’s status on the Verra Registry accordingly. Once available, the project review report, which includes Verra’s findings and responses from the validation/verification body, will be publicly available on the Verra Registry.

More detailed information about Section 6 review, including any follow-up actions, can be found in Section 6 of the VCS Registration and Issuance Process, v4.3.

Verra is committed to undertaking any Section 6 review with great care.

Verra has issued an Erratum and Clarification, VCS Registration and Issuance Process, v4.3, section 5.3.1(4), regarding the timing for submitting a loss report. This correction is effective immediately and will be incorporated into the next version of the document.