WASHINGTON, D.C. (November 22, 2023) - This week carbon credit standard-setting group Verra announced its submission of their flagship carbon crediting program—the Verified Carbon Standard (VCS) Program—to be assessed against the Core Carbon Principles (CCPs) developed by the Integrity Council for Voluntary Carbon Markets (ICVCM). Among the carbon accounting methodologies submitted are VM0045 and VM0047, those used to measure the success of the Family Forest Carbon Program.
Rita Hite, president and CEO of the American Forest Foundation, released the below statement on the methodologies’ submission:
“The voluntary carbon market is a critical tool for financing the natural climate solutions needed to keep the planet from warming above 1.5 degrees. It only works if the carbon credits transacted in this market represent real carbon reductions or removals from the atmosphere and if the entities using the credits due so with integrity. Verra’s submission of their VCS Program signals its commitment to ensuring the methodologies used to verify credits in this market are of the high quality and, transparent, equipping carbon project developers with the ability to deliver the highest quality credits to the market. We congratulate Verra on its submission of the VCS Program to the ICVCM and we applaud the countless stakeholders who have worked tirelessly in reaching this pivotal moment.
AFF is proud to work with Verra in advancing integrity within the voluntary carbon market. Verra’s submission of the forest carbon accounting methodologies VM0045 and VM0047 to the ICVCM demonstrates the quality and integrity of the Family Forest Carbon Program. We look forward to our continued work with Verra and the ICVCM in transparently sharing our progress and learnings to advance forests and their stewards as a critical natural climate solution.”
In July of this year, the ICVCM released their Core Carbon Principles, providing guidance on how to improve the credibility and quality of carbon credit projects at both the carbon program and credit category level to maximize the full climate potential of the voluntary carbon market. The CCPs aim to provide global guidelines and shared definitions for what makes a high-integrity carbon credit.
More information on the CCPs and their importance for building and scaling a high-integrity voluntary carbon market can be found here.
Media Contact: Kristen Voorhees, Communications Director, firstname.lastname@example.org
About The American Forest Foundation
The American Forest Foundation (AFF) harnesses the power of family forests to fight climate change. Our Family Forest Carbon Program provides the tools for small landowners to improve the health and climate potential of their forests. To learn more about AFF’s commitment to fighting climate change, visit www.forestfoundation.org.
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