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Overview 
Verra has published updated guidance documents for projects seeking to apply Article 6 and/or Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA) labels to the credits they generate under the Verified Carbon Standard (VCS) Program. Verra also released a complementary guide that helps buyers select credits with the Article 6 label that meet their specific needs.
The updated guidance documents reflect the latest decisions by the UN Framework Convention on Climate Change (UNFCCC) and the International Civil Aviation Organization (ICAO) and incorporate Verra’s experience with implementing these labels. As a result, the revised documents enable stakeholders to fully participate in these key markets and have a more streamlined experience requesting and applying the respective labels.
Details about the Updated Guidance Documents
The Article 6 Label Guidance document outlines how carbon credits issued by Verra’s VCS Program may receive CORSIA labels to indicate that these credits can be used under specific phases of CORSIA by ICAO. Note that for credits with vintages of 2021 onward, an Article 6 Authorized – International Mitigation Purposes label is a prerequisite for credits to be CORSIA-eligible. (Hence the Article 6 Label Guidance is applicable here as well.)
Verra made the following updates to the Article 6 Label Guidance document:
- Introduced an Article 6 Correspondingly Adjusted label to identify VCUs for which a corresponding adjustment has been applied by the host country; this means that the host country has taken steps to ensure the mitigation outcome represented by this VCU is not counted toward its national inventory, consistent with its international reporting and accounting obligations (i.e., not double counted)
- Clarified the process for requesting a Letter of Authorization (LOA), a document through which a host country authorizes the use of carbon credits by another country or entity
- Added information about streamlined processes for requesting labels, based on Verra’s experience assessing LOAs
Supplementary Resource
Verra is also releasing a user-friendly checklist that provides project proponents with an efficient way to confirm that their LOA from a respective host country meets the criteria for receiving an Article 6 Authorization label.
The CORSIA Label Guidance document outlines how carbon credits issued by Verra’s VCS Program may receive CORSIA labels to indicate that these credits can be used under specific phases of CORSIA by ICAO. Note that credits with vintages of 2021 onward must have received an Article 6 Authorized – International Mitigation Purposes label.
Verra made the following updates to the CORSIA Label Guidance document:
- Added criteria to indicate which VCUs are eligible for the CORSIA second phase (2027–2029); the CORSIA second phase is the first compliance period for aircraft operators
- Included updates related to the CORSIA insurance criteria and CORSIA Accounting Representation Deeds
- Provided a distinction between the CORSIA scope label and the CORSIA-eligible labels
- Included updates to align this label guidance with the revised Article 6 Label Guidance document
New Buyer Resource
The buyers’ guide “Choosing the Right Article 6 Label” is a new resource that guides buyers on deciding which type of Article 6 label is appropriate, depending on their needs (i.e., if they are purchasing a credit for government or compliance use, voluntary market use, or use under CORSIA).