The Assessment Report from the Intergovernmental Panel on Climate Change (IPCC) gave readers a clear and up-to-date picture of the current state of climate change-related scientific knowledge. Numerous recent peer-reviewed research that looked at the causes, effects, and available mitigation strategies for climate change have come to a clear conclusion. If we want to keep global warming within the safe limit of 2 degrees, we must immediately dramatically cut our greenhouse gas emissions to hit emissions targets.
Fortunately, businesses big and small around the world are taking ESG concerns seriously. Without solid ESG policies, they run the danger of immediate reputational and financial harm. However, the majority of them are still unclear about how to reduce carbon footprint through carbon offsetting. Fortunately, there are a few carbon emissions standards that have been around for a while and have been successfully implemented.
In this guide, I ranked and reviewed the top 5 carbon emission reduction standards.
- Verified Carbon Standard (Verra)
- Plan Vivo
- Gold Standard
- American Carbon Registry
- Climate Action Reserve
In the short term, it is frequently impossible for people, businesses, or organizations to totally eliminate their carbon emissions. They can compensate for any GHG emissions that cannot be prevented at this time by purchasing credits on the voluntary carbon market. This accomplishes more than merely paying another organization to reduce carbon dioxide emissions. Projects that meet and are accredited by these standards also give project communities access to healthcare, educational opportunities, and sustainable development benefits.
Buyers of credits are reassured that their purchase had the desired effect thanks to the rigor and transparency of these carbon emissions standards, and sellers of credits benefit from markets with assurances of quality control that enable them draw in a healthy customer base.
What are the Top 5 Carbon Emission Reduction Standards?
My top picks are Verified Carbon Standard (Verra), Plan Vivo, Gold Standard, American Carbon Registry and Climate Action Reserve.
1. Verified Carbon Standard (Verra)
The Voluntary Carbon Standard (VCS), commonly referred to as Verra, was formerly called the Verified Carbon Standard. It serves as a certification criteria for carbon emissions reductions.
The VCS Program is the most popular GHG crediting scheme in the world. It directs funding toward initiatives that lessen and eliminate GHG emissions, enhance livelihoods, and safeguard the environment.
Due to its strict guidelines and requirements, ability to adapt to new scientific, technological, and regulatory developments, and availability of transparent information about its projects and activities on the Verra Registry, the VCS Program has grown to become the largest GHG crediting program in the world.
Organization
Verra, based in Washington, is the organization that administers the standard.
Areas of Focus
Blue Carbon
Blue carbon is the term used to describe carbon that is stored in coastal and marine habitats’ above- and below-ground biomass and sediments. These ecosystems play a crucial role in the worldwide fight against climate change because they store enormous amounts of carbon. However, when they deteriorate or are destroyed, causing carbon dioxide emissions to be released into the atmosphere, their carbon sinks are impacted.
By enabling groups, companies, and other entities to use carbon finance to finance conservation and restoration efforts, the VCS Program encourages the preservation of coastal and marine habitats.
Agriculture, Forestry and Other Land Use (AFOLU)
Forest loss and subpar farming methods are responsible for 30% of the world’s GHG emissions. Natural climate solutions—also known as agriculture, forestry, and other land use (AFOLU)—are a successful strategy for cutting and getting rid of the world’s GHG emissions.
The VCS Program at Verra is a pioneer in creating techniques and other instruments to maximize the potential of AFOLU projects for carbon reduction. The most generally adopted standard in the industry is the VCS.
AFOLU projects fall under the following categories:
- Afforestation, Reforestation and Revegetation (ARR)
- Agricultural Land Management (ALM)
- Improved Forest Management (IFM)
- Reduced Emissions from Deforestation and Degradation (REDD)
- Avoided Conversion of Grasslands and Shrublands (ACoGS)
- Wetlands Restoration and Conservation (WRC)
Endorsement and Acceptance
The VCS Program has been endorsed by the International Carbon Reduction and Offset Alliance (ICROA) and meets the ICROA Code of Best Practice.
Currently, the VCS Program is accepted into the following compliance markets:
- Colombia’s Carbon Market
- South Africa’s Carbon Market
- Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA)
Visit their website for more information.
2. Plan Vivo
The Plan Vivo Standard is a set of criteria used to certify smallholder and community initiatives based on their benefits to the environment, climate, and livelihoods. It has had a 25+ year evolution and is the Voluntary Carbon Market’s oldest carbon standard, looking back on a wealth of experience working with smallholder and community-led restoration and forest preservation initiatives.
The Plan Vivo Foundation offers initiatives Plan Vivo Certificates (PVCs), which can subsequently be sold by the project, in order for programs to continue to benefit communities and smallholders. A Plan Vivo Certified Project (PVC) indicates the long-term storage or mitigation of one ton of carbon dioxide equivalent.
Organization
The body that oversees the Plan Vivo system and evaluates projects in accordance with the Plan Vivo Standard is the Scottish non-profit organization known as the Plan Vivo Foundation. The Foundation is made up of numerous organizations that collaborate.
Areas of Focus
Plan Vivo is an Offset Project Standard for initiatives including agriculture, forestry, and other land use (AFOLU), such as:
- Biodiversity conservation through expansion and strengthening of protected areas and native species
- Poverty reduction and sustainable livelihoods through sustainable agriculture and micro-enterprises
- Restoration of degraded and degrading ecosystems
- Adaptation of natural and managed ecosystems to climate change
Endorsement and Acceptance
Some of Plan Vivo’s partners include:
- SustainCERT
- Climate-KIC
- Goldman Sachs
- WWF
- World Vision
Plan Vivo is accepted in various programs in a myriad of countries across the world, from Bolivia to Indonesia to New Zealand.
Visit their website for more information.
3. Gold Standard
A requirement stated by the Gold Standard for the Global Goals is to monitor and report results in the most reliable and effective manner possible, as well as to design initiatives for maximum beneficial impact on climate and development.
The standard adapts safeguards, specifications, and methodologies to measure and confirm impact on a variety of activities, from climate protection projects looking to issue carbon credits to corporate supply chain interventions to national or subnational programmes looking for the most credible claims for their impact reporting.
Organization
Gold Standard is a not-for-profit organization headquartered in Geneva, Switzerland.
Areas of Focus
Gold Standard focuses on the following areas:
- Forestry
- Cookstove
- Water
- Biogas
- Wind
Endorsement and Acceptance
SustainCERT and Gold Standard have partnered to streamline monitoring, reporting, and verification with the aim of digitizing the certification process by implementing new IT systems to improve impact data quality, cut down on project development and certification costs, and improve developers’ capacity to communicate about project impact and establish connections with funders.
Some of Gold Standard’s NGO supporters include:
- WWF
- IUCN
- Fairtrade
- David Suzuki Foundation
Visit their website for more information.
4. American Carbon Registry
The American Carbon Registry (ACR) Standard outlines ACR’s guidelines and procedures for measuring, tracking, reporting, verifying, registering, and issuing carbon credits for project-based GHG emissions reductions and removals. In order for ACR to register a project’s GHG emission reductions and removals as tradable environmental assets, the Standard specifies the standard of scientific integrity that each project must achieve.
Organization
ACR is a non-profit enterprise founded by Winrock International in 1996 as the first private voluntary greenhouse gas registry in the world.
Areas of Focus
ACR focuses on the following areas:
- Carbon capture and storage
- Methane emissions from landfills
- Foam blowing agents
Endorsement and Acceptance
ACR is endorsed by the following organizations:
- California Cap-and-Trade
- International Carbon Reduction & Offset Alliance (ICROA)
- Green-e Climate
Visit their website for more information.
5. Climate Action Reserve
The Climate Action Reserve (CAR) supports efforts to lower greenhouse gas emissions by ensuring the financial viability and environmental integrity of emissions reduction initiatives.
The Reserve creates strict rules for carbon offset projects, supervises impartial third-party verification organisations, provides carbon credits resulting from such projects, and keeps track of the movement of credits over time in a system that is open to the public.
Organization
The precursor company and legacy initiative of the Climate Action Reserve is the California Climate Action Registry (California Registry). The California State Legislature created a voluntary GHG registry for businesses and other groups in 2001 to encourage and support early measures to measure, manage, and reduce GHG emissions.
Areas of Focus
Climate Action Reserve focuses on the following areas:
- Forestry
- Landfill gas capture
- Low-carbon cement
- Livestock
- Organic waste digestion
- Ozone-depleting substances
Endorsement and Acceptance
Verified Carbon Standard
The Verified Carbon Standard has certified CAR’s GHG emission reduction programme, including its project-specific protocols and its verifier accreditation and oversight programme. Verified Carbon Units (VCUs) can be created from Climate Reserve Tonnes (CRTs) that the Reserve has issued and then transferred to a VCS registry.
The Reserve actively helps countries and organizations across the world, and has worked together with:
- The Government of Kazakhstan
- The government of South Korea
- World Bank’s Partnership for Market Readiness
- World Bank Forest Carbon Partnership Facility (FCPF)
- REDD Offset Working Group (ROW)
Visit their website for more information.
Summary
With the climate crisis grabbing the headlines more and more nowadays, I strongly believe more rigorous carbon reduction frameworks and standards will be developed and deployed.
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