With the activities 7 & 8 we look to validate and verify our Project against international standards. Also, these processes allow us to turn our CO2 emission reductions into tradable carbon credits and generate revenue to finance and develop the Project.
VCS is an international program ensuring the integrity, quality, credibility and transparency of the CO2 emissions reduction Projects - worldwide - & demonstrate its compliance with rigorous requirements, protocols and scientific methodologies.
VCS is administered by Verra, a not-for-profit organization that started in 2005, when the Climate Group, the International Emissions Trading Association (IETA), the World Economic Forum, the World Business Council for Sustainable Development (WBCSD), among others, created a team of global carbon market experts to develop, manage and update VCS requirements.
**The VCS is the most widely used carbon standard with over 1500 certified VCS projectsProjects must follow this process in order to be certified/validated:
1. VCS Standard: The VCS Standard lays out the rules and requirements which all projects must follow in order to be certified.
2. Independent Auditing: All VCS projects are subject to desk and field audits by both qualified independent third parties and Verra staff to ensure that standards are met and methodologies are properly applied.
3. Accounting Methodologies: Projects are assessed using a technically sound GHG emission reduction quantification methodology specific to that project type.
4. Registry System: The registry system is the central storehouse of data on all registered projects, and tracks the generation, retirement and cancellation of all VCUs. To register with the program, projects must show that they have met all standards and methodological requirements.
- Our project is certified against the international standard VCS for 30 years (2013 - 2042) - Auditor: ICONTEC
- We registered our project into VCS Registry with ID VCSPD1566, please find details:
GHG emissions reductions from certified-validated projects must be periodically quantified, monitored, reported, and verified by an accredited independent audit - against an international standard.
VCS certify carbon emissions reductions from Projects:
- Are based on realistic, credible, transparent & scientific methodologies, protocols and development processes
- Are additional, would not otherwise occur in a business-as-usual scenario
- Are permanent
- Do not cause emissions to materially increase elsewhere - leakage
- Do no net harm, do not violate local, state/provincial, national or international regulations or obligations
- Are only counted once towards a mitigation obligation, have a clear and transparent chain of custody
- ICONTEC verified our results for 2013-2015:
- 4.468.852 Tons of CO2 emissions were not emitted into the atmosphere in 2013
- 8.769.222 Tons of CO2 emissions were not emitted into the atmosphere in 2014-2015
- EPIC Sustainability Services verified our results for 2016-2017:
- 7.584.460 Tons of CO2 emissions were not emitted into the atmosphere