This article was originally posted in the V-Carbon newsletter. Click here to read the original.
14 August 2014 | The Verified Carbon Standard (VCS), known as one of the leading carbon standards in the voluntary markets, is ready to move into California’s regulated market in a major way. VCS announced last week that it has been authorized by the state’s Air Resources Board (ARB) to pre-screen coal mine methane and other types of offset projects for California’s carbon trading program.
The VCS just became the third voluntary registry, following the American Carbon Registry and the Climate Action Reserve (CAR), to be designated as an offset project registry, which allows the VCS to help administer parts of the ARB’s compliance offset program.
“The California system is on the cutting edge of figuring out how to tackle climate change,” said David Antonioli, Chief Executive Officer of the VCS. “We feel it’s time to be part of the game and part of the solution.”
In addition to evaluating currently eligible projects, the VCS has set a specific goal of helping California welcome REDD+ (reduced emissions from deforestation and forest degradation) projects into the program. The VCS jurisdictional and nested REDD+ (JNR) requirements were the first framework for accounting and crediting REDD+ programs implemented at either the national or subnational level. The Brazilian state of Acre with which California and the Mexican state of Chiapas have a memorandum of understanding (MOU) was the first jurisdiction to pilot the JNR framework and is “really quite close” to becoming the first jurisdiction-wide program to deliver compliance-grade REDD+ offsets, Antonioli said.
The VCS has a vision of its toe-hold in California evolving into other compliance markets throughout North America and potentially worldwide.
Meanwhile, officials in California and Mexico in late July signed a MOU and formally agreed to work together on a range of actions to address climate change, including pricing carbon pollution. The most obvious area of cooperation would be for California to recognize REDD offsets generated by projects located in Mexico in its program, he said.
“I think there are great opportunities for making things happen across the border,” Antonioli said.
These and other stories from the voluntary carbon marketplace are summarized below, so keep reading!
We want to hear from you!
Next time you visit the Ecosystem Marketplace website, please take a minute to tell us about yourself and your information needs so we can understand and enhance the usefulness of our work.
For the fifth year running, Forest Trends’ Ecosystem Marketplace is collecting data about forest carbon projects around the world to include in our State of the Forest Carbon Markets 2014 report. This is the only market-wide, freely available research tracking performance-based payments for emissions reductions in forests, and we rely on a global survey to ensure that our data is representative.
Help us spread the word!
Every year, Ecosystem Marketplace relies wholly on offset market participants to financially support the State of research. In return, sponsors ($7.5k+) and supporters ($3k) benefit from the report’s growing exposure, early insight into our findings, and opportunities to engage directly with Ecosystem Marketplace in report-related outreach and events. Interested organizations should contact Molly Peters-Stanley.
For comments or questions, please email: firstname.lastname@example.org