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[2] [3] VCS is administered by Verra, a 501(c)(3) organization. [4] Verra is a certifier of voluntary carbon offsets. [5] As of 2020 there were over 1,500 certified VCS projects covering energy, transport, waste, forestry, and other sectors. [6] In 2021 Verra issued 300 MtCO 2 e worth of offset credits for 110 projects.
The standards can be combined with a carbon accounting standard, such as, the CarbonFix Standard (CFS), the Clean Development Mechanism (CDM) or the Voluntary Carbon Standard (VCS). The Standards, now managed by the non-profit Verra, have been applied to nearly 200 projects, over 50 of which have achieved full verification. [6]
VERRA was developed in 2005, and is a widely used voluntary carbon standard. It uses accounting principles based on ISO 14064 Part 2, which are the same as the GHG protocol principles described above. [97] Allowable projects under VERRA include energy, transport, waste, and forestry. There are also specific methodologies for REDD+ projects. [98]
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The ISO 14064-3 verification standard is one of the standards accepted by the Carbon Disclosure Project, the widely used climate impact disclosure system, as a valid framework for measuring and reporting GHG emissions. [2] The principles behind ISO 14064 have been used in national calculation methodologies such as the UK's Carbon Trust Standard ...
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Verra was developed in 2005. It is a widely used voluntary carbon standard, which also offers specific methodologies for REDD+ projects. [91] As of 2020, there had been over 1,500 certified VCS projects covering energy, transport, waste, forestry, and other sectors. [91] In 2021, Verra issued 300 MtCO 2 e worth of offset credits for 110 projects.