VCS Launches Framework to Harmonize REDD Accounting, Crediting
By Valerie Volcovici of Reuters Point Carbon
A leading voluntary carbon market accounting program launched a new framework on Thursday to help landowners earn carbon credits by protecting their forests and ensure that those credits hold their value when their countries launch national programs to reduce deforestation (REDD).
The Verified Carbon Standard (VCS) unveiled its “jurisdictional REDD” program, a set of standardized guidelines that can be used by both national and state governments for crediting REDD projects, bringing consistency and credibility to such initiatives.
The framework will help encourage private sector investment in REDD projects by creating an accounting system for projects to be recognized by both subnational and national governments.
“Using the VCS, developing countries can now access new sources of market and non-market finance for supporting their REDD+ programs while generating compelling sustainable development and environmental benefits,” said Toby Janson-Smith, director of forest carbon markets at Conservation International.