Action required

Existing customers and new applicants for registering a project in the Verified Carbon Standard Program shall use VCS Standard, v 4.3, published 22 June 2022 (2022-06-22).  

Affected customers

Existing SCC Verification and Validation Accreditation Program (formerly the Greenhouse Gas Validation/Verification Accreditation Program) customers and applicants who have a project registered or are seeking to register a project in the VCS Program.

Background

The new version of the standard, VCS Standard, v4.3 (PDF) was released on June 22, 2022. All previous versions of the standard are now obsolete.

The VCS Standard is a global standard for GHG emission reduction and removal projects and programs. It uses as its core the requirements set out in ISO 14064-2:2019, ISO 14064-3:2018 and ISO 14065:2020. 

The three principal documents of the program are the VCS Program Guide, v4.2 (PDF), the VCS Standard, v4.3 (PDF), and the VCS Methodology Requirements, v4.2 (PDF). 

The VCS Program Guide describes the rules and requirements governing the VCS Program, including the project registration and methodology approval processes, the functioning of the Verra Registry, and the accreditation requirements for validation/verification bodies. The VCS Program Guide should be read before beginning the project or methodology development process in the VCS Program.

The VCS Standard provides the requirements for developing projects and programs, as well as the requirements for validation, monitoring and verification of projects and programs, and GHG emission reductions and removals. 

The VCS Methodology Requirements provide the rules and requirements for developing new VCS methodologies. 

New requirements

Summary of updates to VCS Standard, v4.3 (PDF):

• When an instance leaves a grouped project or non-grouped project with multiple activity instances before the end of its 30-year longevity period, new rules require the project either (1) to conservatively assume a loss of the previously verified emission reductions and removals or (2) continue to monitor the instance for the remainder of the instance’s 30-year longevity period (Section 3.2.15). 
• A new rule requires that project activity instances must not leave one VCS project and subsequently enroll in another VCS project (Section 3.5.16).
• Technical requirements of geodetic polygons which proponents are required to provide to Verra in a KML file for AFOLU projects (Section 3.10.2) were clarified 
• Incorporated a clarification that individual CPAs are assigned a VCS project start date reflecting the date on which the specific CPA began reducing or removing GHG emissions from Clarifications to VCS Program Rules and Requirements, v4.0, published on April 19, 2022, and updated on April 21, 2022. See Section 3.20.3. This clarification is effective as of April 19, 2022. 
• Incorporated a specification on the implications of VCS project start date for validation deadlines from Clarifications to VCS Program Rules and Requirements, v4.0 (Section 3.20.3). This clarification is effective as of April 19, 2022. 
• New rules set out that VCU labels may be applied to designate that a particular VCU has met the requirements of another certification or is eligible or approved for use in a national, sectoral, or investor-specific market (Section 3.22). 
• Incorporated clarifications to eligibility conditions for projects and CDM CPAs seeking VCS registration into Appendix 2 from Document History.

All VCS Version 4.3 documents are in effect as of the issue date unless otherwise stated in the VCS Version 4.3 Summary of Effective Dates.

Deadline

Existing SCC VCS customers will be assessed to the new requirements at their next scheduled fixed office assessment. 
Effective date: June 22, 2022.

Questions?

Please contact Abdel Kassou, Manager, Compliance and Assessment Services, at abdel.kassou@scc.ca or +1 613 238 3222 for more information.