Carbon credit verifier Verra has launched a new methodology which includes a new approach to setting baselines for calculating emission reductions from forest conversation activities under the Verified Carbon Standard Programme. The methodology will also align forest conservation activities with the accounting requirements for nationally determined contributions (NDCs) under the Paris Agreement. Under the new methodology, Verra will lead and manage the baseline-setting process, using jurisdictional-level data that meet stringent requirements and a robust development process. The programme will employ advanced remote-sensing technologies coupled with a risk assessment to determine the expected deforestation for a project area, ensuring that the number of verified emission reductions from all projects in a jurisdiction is consistent with jurisdictional-scale accounting. Toby Janson-Smith, Chief Programme Development and Innovation Officer at Verra, said: “Keeping forests standing is vital to achieving our global climate goals. Deforestation accounts for as much as a fifth of the world’s greenhouse gas emissions, and carbon markets are the best and most readily available tool we have for forest protection. Today marks a substantial advancement for ensuring the integrity of REDD and supporting the scaling up of these critical activities.” Verra has come under media scrutiny this year for the effectiveness of its carbon credit certifying activity.
Verra has released its transformative new #REDD methodology along with a module for Avoiding Unplanned #Deforestation, unveiling a new approach to setting baselines for calculating emission reductions from forest conservation activities. https://t.co/PYxvvMqY4R#carbonmarkets pic.twitter.com/K8UZh6D6Nu
— Verra – Standards for a Sustainable Future (@VerraStandards) November 27, 2023
