Monthly: September Methodology Updates
This article is an automatically translated version of the original Japanese article. Please refer to the Japanese version for the most accurate information.
This is the Sustainacraft Inc. newsletter. This time, as a Monthly Methodology Update, we will mainly focus on news regarding VCS Methodologies published in August 2023.
Monthly Methodology Update
This month's update covers the following topics:
- Release of VCS Standard v4.5 (Verra)
- Release of Non-Permanence Risk Tool v4.1 (Verra)
While both are positioned as minor updates, moving from v4.4 to 4.5 and v4.0 to 4.1 respectively, they include substantial revisions based on recent announcements regarding CORSIA Phase 1 and ICVCM CCP.
(1) Release of VCS Standard v4.5 (Verra)
(link)
A new VCS Standard has been announced. We will introduce the changes item by item1.
＜Introduction of Labels＞
Two types of labels have been introduced: "Mitigation outcome type labels" to identify Emission Reduction/Removal, and "Article 6 labels" to identify Carbon Credits approved for use under Paris Agreement Article 6. These appear to be included in the "Additional Certification" field, similar to CCB, CORSIA, and SDG labels, as data for Credit Issuance and Retirement transactions.
Furthermore, all existing CORSIA labels have been replaced with “CORSIA — Pilot Phase, 2021–2023.”, and “CORSIA — First Phase (2024–2026)” will become available once approved by ICAO (as introduced in our April 2023 article, VCS issued CORSIA-eligible Carbon Credits during the pilot phase, but approval for Phase 1 is still pending).
＜Revisions to ICVCM CCP and CORSIA Requirements＞
１）Protection Principles and Safeguards
