Verra – the world’s leading carbon crediting program, is working to scale the impact of forest projects. The carbon credits verifier is establishing a new Forest Carbon Technology Working Group (FC Tech WG) to improve its current and future forest carbon methodologies.
It plans to do that through developing a framework for the approved use and governance of digital Measurement, Reporting, and Verification (DMRV) technologies at all levels of the Verified Carbon Standard (VCS) Program. The goal of the working group of Verra is to also identify and address barriers to DMRV adoption. It will work with Verra in the course of 12 months to accomplish the following mutual objectives:
- Gather the latest information and consensus on current and forthcoming innovations for the measurement and monitoring of VCS forest carbon projects.
- Raise and give an input on issues related to novel measurement technologies and DMRV integration for new and existing VCS methodologies and tools (e.g., guidance on the use of direct above-ground biomass measurement, project and methodology-level true-up mechanisms, forest carbon methodology updates).
- Increase engagement with DMRV service providers to ensure emerging technologies are usable and conform with VCS Program elements.
- Identify any gaps in the VCS Program that prevent the utilization of advanced technologies.
DMRV technology enhances the overall quality and accessibility of the voluntary carbon market through the end-to-end digitization of carbon credits. Such technology is needed to also raise the credibility, trust and thus investments into the voluntary carbon markets. However, these emerging innovative technologies are currently under-governed by the VCS Standard, v4.5. DMRV governance principles and protocols need to be included in the VCS Program for the new digital measurement technologies to be fully realized.
Interested parties that want to take part in the working group of Verra can apply for membership until February 12, 2024. They need to send a Resume/CV and a brief description of how they meet the selection criteria outlined in the Terms of Reference document to email@example.com.
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