The Verified Carbon Standard does compliance in California (and beyond?), corporate buyers have lots of love for the Kasigau Corridor REDD+ project, and CO2EXCHANGE offers another option on the web for your offset purchasing predilections.
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.
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