Verra releases revised first-of-its-kind VM0045 methodology enabling projects to differentiate between GHG emission reductions and CO2 removals; new version also allows the application of a mitigation outcome label on verified carbon units

Verra has released a revised version (v1.1) of VM0045 Methodology for Improved Forest Management Using Dynamic Matched Baselines from National Forest Inventories in the Verified Carbon Standard (VCS) Program. This revision enables projects using VM0045 to differentiate between Verified Carbon Units (VCUs) based on greenhouse gas (GHG) emission reductions and VCUs based on carbon dioxide removals.

Additionally, proponents selecting VM0045 can now apply the respective mitigation outcome label to the VCUs that their projects generate. The mitigation outcome label, a new market label for VCUs, was released in the August 2023 update to the VCS Program. Detailed information about the use of this label is available in the Mitigation Outcome Type Label Guidance, v1.1 (PDF). VM0045 is the first methodology in the VCS Program allowing for the generation of both emission reductions and carbon dioxide removals that Verra has revised to enable the application of these mitigation outcome labels.

Projects seeking to complete registration under VM0045, v1.0 must have requested listing on the Verra Registry before March 12, 2024, and complete validation by March 12, 2025.

Verra held a public consultation on this minor revision from December 15, 2023, to January 15, 2024, and has responded to stakeholder comments received. Verra developed version 1.1 of VM0045 with support from the American Forest Foundation (external).