Verra has published a new tool in the Verified Carbon Standard (VCS) Program: VT0015 Calculation of Reductions and Removals for VM0003, VM0005, VM0012, and VM0034, v1.0.
VT0015 provides a standardized method for quantifying and distinguishing between carbon dioxide removals and greenhouse gas emission reductions within improved forest management (IFM) projects developed using the following methodologies:
- VM0003 Methodology for Improved Forest Management through Extension of Rotation Age (all versions)
- VM0005 Methodology for Conversion of Low-Productive to High-Productive Forest, v1.2
- VM0012 Improved Forest Management in Temperate and Boreal Forests (LtPF) (all versions)
- VM0034 Canadian Forest Carbon Offset Methodology (all versions)
The tool enables projects to calculate Verified Carbon Units (VCUs) based on greenhouse gas emission reductions and VCUs based on carbon dioxide removals separately, but does not modify the total number of VCUs generated by the project (which is calculated using the applied methodology).
It can be used by projects seeking validation or verification. In addition, it can be used by projects that are undergoing requantification for a previous verification period in accordance with Verra’s Methodology Change and Requantification Procedure (PDF).
Proponents using the tool will fill out a detailed summary table and annex it to the Project Design Document (for validation) or the Monitoring Report (for verification or projects that have previously verified). This table enables proponents to track and report emission reductions, carbon dioxide removals, carbon stock changes, and the resulting allocation of VCUs.
Verra is also releasing a companion quantification spreadsheet to facilitate the application of the tool’s equations.
Please note: this tool is not used with VM0010 and VM0045, as the methodologies themselves provide guidance on the calculations needed to separate reductions and removals.