The Verified Carbon Standard, formerly the Voluntary Carbon Standard, is a standard for certifying carbon credits to offset emissions. VCS is administered by Verra, a certifier of voluntary carbon offsets.
Verra sets the standard with best-in-class methodologies and project review processes.As a standard-setting body, Verra does not offer training or specific advice on Verras programs. Verra regularly hosts webinars on select programs, methodologies, rules and requirements.
The carbon credit registry sanctioned the project developer Hefei Luyu after the Chinese company failed to reply to Verras emails and compensate for the credits. But, in contrast, Verra has not taken any action against Shell the worlds largest buyer of carbon offsets.
Validation of carbon offset project plans, and verification of the actual carbon tonnage avoided or sequestered by these projects, confirms the accuracy of greenhouse gas (GHG) avoidance or sequestration claims.
The Verified Carbon Standard is a full-fledged carbon offset program developed and run by the non-profit Verra. It focuses on GHG reduction attributes only and does not require projects to have additional environmental or social benefits.
As a standard, Verra sets rules and requirements for carbon credit projects to ensure that they achieve measurable, high-integrity outcomes.Projects under any of the scopes can qualify for Verra carbon credit issuance, provided that they meet the other set requirements.
Verra, whose carbon credits have been used by the likes of Disney, Shell, Gucci, EasyJet, Leon and BHP (among dozens of others), claimed to have reduced 90.9 million tonnes of carbon emissions but the analysis found that only 5.5 million tonnes of reductions were actually achieved.
Verras verified carbon standard (VCS) has issued more than 1bn carbon credits so far since 2009 when the company was created. The Guardians research puts a serious matter under scrutiny and brings up the issue of the worthiness of having carbon offsets one more time.
NAIROBI, Kenya, Dec. 17 Global carbon certifier Verra has adopted new standards that significantly strengthen community rights in carbon offset projects, incorporating principles developed by the Grassroots Justice Network and frontline communities worldwide.
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