Verra has launched the final public consultation on proposed updates to its Verified Carbon Standard (VCS) Programme, which will result in the release of Version 5. The updates aim to reflect evolving market expectations and scientific developments while addressing integrity, transparency, and accessibility within the voluntary carbon market.
Stakeholders have until 11 August 2025 to provide feedback on the proposed changes, which follow two previous consultation rounds.
Key proposed changes
1. Strengthening integrity
Verra has outlined several revisions aimed at reinforcing the credibility of carbon credits:
- New mechanisms for managing reversal risk: Project proponents may be allowed to use insurance policies or fund-based models to compensate for carbon credit reversals.
- Refined rules on project start dates and crediting periods to reduce inconsistencies across project types.
- Frequent baseline reassessments may be required to ensure projects reflect the latest science and geopolitical conditions.
- A risk-based framework for social and environmental safeguards.
- Greater financial transparency on benefit-sharing mechanisms, ecosystem protections, and carbon rights.
2. Improving usability
To make the programme more accessible, Verra is proposing:
- Clearer rules for how effective dates for programme updates are determined.
- Extended transition periods for projects adopting new methodology versions.
- Simplified processes for managing grouped projects, especially when adding new project instances.
3. Revising programme scope
Proposed changes also include:
- Expanded eligibility for grid-connected renewable energy projects, particularly in low- to middle-income countries.
- A revised list of sectoral scopes and a new classification system to align with other carbon market standards, distinguishing project categories from activity types.
A public webinar will be held on Wednesday, 9 July 2025 at 11:00 am ET, to walk stakeholders through the proposed changes and address questions.
The outcome of this consultation will inform the final design of VCS Version 5, a key framework in the voluntary carbon market that underpins many global carbon offsetting initiatives.
