Verra is a worldwide leader, tackling the world’s social challenges and intractable environment by managing and developing standards that further help nations, private companies, and even civil society. This organization helps in achieving several sustainable development and other climate action goals. Most of Verra’s global frameworks and standards serve as a linchpin for improvising finances towards several other impact-driven activities while tackling some of the most difficult climate or environmental issues.
All About The Organization: Verra
The organization Verra was first developed in the year 2005 by different business and environmental leaders. These personnels saw the need for great quality assurance, especially in VCM. Currently, the organization is serving as a secretariat for different types of programs and standards. Furthermore, they are also working as an incubator for generating new ideas for meaningful social and environmental value. Remember the strategic direction of Verra is generally set by the Verra directorial board and the staff. Their headquarters is located in Washington, DC and they have staff working remotely in several parts of the world. Verra is registered as a non-profit organization falling under the jurisdiction of the District of Columbia, Washington DC, USA.
The VCS Program
The VCS Program is currently the world’s most widely used voluntary greenhouse gases program. As of now, almost 1600 verified and certified VCS projects worldwide have collectively removed and reduced almost 500M tonnes of carbon emissions from the atmosphere.
How Does The VCS System Work?
All the projects that are created under the VCS program undergo a strict assessment process in order to great certified. VCS projects generally cover several types of sectors which include forestry, renewable energy such as hydroelectric or wind projects, and others. All the emission reductions that are certified by Verra becomes completely eligible to be issued as a VCU. Remember one singular VCU can represent almost one metric tonnes of Greenhouse emissions removed or reduced from the atmosphere.
Important Terms Related To VCS
VCS Standards: VCS standards are known to impart rules, regulations, and requirements for all sorts of projects which need to be certified.
- Independent Auditing Of VCS: All sorts of VCS projects are usually subject to field and desk audits by the Verra staff and other independent third parties. The independent auditing of VCS ensures that all the standards and methodologies are met and are implemented properly.
- Accounting Methodologies: All the VCS projects are assessed using GHG emission reduction and quantification methodology that is completely specific to a particular project type.
- VCS Registry System: The VCS registry system is used as a central storehouse of all sorts of data of registered products and other tracks for retirement, generation, and cancellation of VCU. In order to register a program, the projects must prove that they have met all the methodological requirements and standards.
We can say without any doubt that the VCS projects include several discrete types of activities. However, governments nowadays are establishing programs and policies in order to mitigate GHG emissions across all subnational and national jurisdictions.