Stakeholder Update Webinar (April 2025)

Summary

This webinar covers key updates in the VCS and Vera’s methodology frameworks, including improvements in project review times, the release of new methodologies like VM32 and VM48, and the public availability of VVB scorecards for assessing project performance. It discusses the role of technical consultants in submitting projects, the prevention of double-counting in emission reductions, and highlights upcoming consultations for new methodologies. The session also emphasizes the Vera website's enhanced search features, offering resources and information on methodologies and project guidelines for stakeholders.

Takeaways

• 😀 The VB scorecards will contain useful information for stakeholders and project proponents to assess the performance of VVBs in various categories.
• 😀 After finalizing the scorecards and discussing them with VVBs, certain parts will be made public to allow for more meaningful discussions between stakeholders and project proponents.
• 😀 Specific indicators, such as denials and performance expectations, will be published to help stakeholders make informed decisions about which VVBs to work with.
• 😀 VM32 version 2 is expected to go to consultation later this quarter, with a final version targeted for release by the end of the year.
• 😀 Project consultants will have access to tools in the VCS Project Hub if they are working on behalf of a registered account holder, with flexibility to add and remove consultants as needed.
• 😀 The methodology team is revising waste-related methodologies, and stakeholders are encouraged to reach out via vera.org for more information.
• 😀 The VCS registry implements strict measures to prevent double counting of emission reductions or removals, including unique identifiers for credits and verification checks for project boundaries and rights.
• 😀 Significant progress has been made in reducing the time it takes to process projects, with over 90% of projects staying within service level agreements (SLAs).
• 😀 The Vera website has been revamped with better search functionality, making it easier for users to find methodologies and other relevant information.
• 😀 The APD module of VM48 is slated for release by the end of the year, with a consultation process in advance to gather feedback from stakeholders.

Q & A

What is the purpose of the VVB scorecards, and how will they be made public?

The VVB scorecards are designed to assess the performance of VBBS in specific categories. Once finalized and discussed with the VVBs, parts of the scorecards will be made public, allowing stakeholders and project proponents to assess performance on specific indicators like denials and other performance metrics. This will help facilitate discussions between stakeholders and project proponents.

When is the expected release date for VM32 version 2?

VM32 version 2 is expected to go to consultation later this quarter, with the final version targeting a release by the end of the year.

How does the VCS project hub work for technical consultants involved in a project?

Technical consultants working on a project can be added by the account holder to the VCS project hub, allowing them to submit tools, methodologies, and other relevant information on behalf of the project. Consultants can operate temporarily on behalf of the account holder and their permissions can be adjusted as needed.

How does Vera ensure that there is no double counting of emission reductions or removals?

Vera prevents double counting by serializing each credit with a unique identifier and ensuring proper checks on project boundaries. Projects must confirm they have the rights to the carbon benefits they are claiming, and the registry ensures no overlap with other projects. Double counting is further prevented through systems like the Climate Action Data Trust and by cross-checking with other registries.

What progress has been made in streamlining the project review process and meeting service level agreements (SLAs)?

Vera has made significant progress in reducing the time it takes for projects to move through the review process, with over 90% of projects meeting service level agreements (SLAs) in the last six months. The focus is on improving the registration process to make subsequent verification steps more efficient.

Where can stakeholders find more information on methodologies such as VM50 and VM52?

Stakeholders can find information about methodologies like VM50 and VM52 on Vera's website, where methodologies are listed by program and sector. Webinars on these methodologies are also hosted and available on the events page.

What steps are being taken to improve the website's search functionality?

Vera has revamped its website to improve the search functionality. The new search module provides more predictable and accurate results, making it easier for users to find relevant materials and information.

When is the APD module of VM48 expected to be released?

The APD module of VM48 is slated for release by the end of the year, with a consultation process taking place before its release to gather feedback from stakeholders.

How can stakeholders get more details on the VVB suspension status?

Details about the suspension status of approved VVBs, including the steps required for a VVB to return from suspension, are listed on Vera's website. This includes information about each VVB’s sectoral scopes and their approval status.

What is the expected outcome of the upcoming consultation on VM32 version 2?

The consultation on VM32 version 2 is expected to gather feedback from stakeholders to refine and finalize the methodology. Afterward, the final version will be released, incorporating insights from the consultation process.