There are three core components of a carbon crediting program: Eligibility definitions and rules for the design and early implementation phase of a project. They can include additionality and baseline methodologies, definitions of accepted project types, and procedures for validating project activities.
The Verified Carbon Standard (VCS) project cycle sets out the major steps in developing an individual project to generate credible greenhouse gas emission removals and reductions, as well as credits.
Verified Carbon Standard (VCS) Methodologies are technical documents used by project developers to quantify the GHG benefits of different project types.
A version control system is a kind of software that helps the developer team to efficiently communicate and manage(track) all the changes that have been made to the source code along with the information like who made and what changes have been made.
VCS methodologies set out detailed procedures for quantifying the real greenhouse gas (GHG) benefits of a project and provide guidance to help project developers determine project boundaries, set baselines, assess additionality, and ultimately quantify the GHG emissions that were reduced or removed.
Any entity wishing to register projects or issue, retire, or transfer credits must have an active Verra Registry account. Account applications may be submitted by clicking on “Open An Account” at the top right corner of the Verra Registry site.
Verra's Methodology Change and Requantification Procedure allows VCS Program projects to update methodologies used in past verification periods, align previous monitoring and verification reports with updated methodology versions, and requantify greenhouse gas (GHG) emission reductions and removals from past periods.
A VCS grouped project combines multiple project activity instances into a single, combined project that adds new instances over time. Using VCS requirements for grouped projects, a project proponent may avoid undergoing a full validation for each new instance added to the project.
As a standard, Verra sets rules and requirements for carbon credit projects to ensure that they achieve measurable, high-integrity outcomes. As a carbon credit registry, it keeps a public database of all registered Verra projects and the issued and retired carbon credits.