Community guidelines for accessing forestry voluntary carbon ... - FAO

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Chapter 2: VCM project types and standards 2.8 Choosing the right forestry VCM standard The decision on whether or not to engage in the carbon market depends on the answers to many questions, as outlined in section 2.5. But once this decision has been made, and the appropriate type of project has been confirmed, the next question is: which forestry VCM standard should a forest manager choose? There are four main standards currently used by forestry VCM project developers in order to advertise their credibility to investors. They have varying levels of stringency and some focus more on social and environmental co-benefits, while others concentrate on accuracy of carbon accounting. This section explains more about the four main standards in the VCM: • Verified Carbon Standard (VCS); • Climate, Community and Biodiversity (CCB) Standard; • Carbon Fix; and • Plan Vivo. 2.8.1 VCS – verified carbon standard The Verified Carbon Standard (VCS) is the most commonly used system in the VCM for ensuring accurate calculation of GHG emission reductions. It is already used by more than 600 projects worldwide. 14 Forestry projects only make up a small percentage of the total number, but their share is growing all the time. 14 VCS Project Database. Project and VCU Summary (Available at http://. vcsprojectdatabase.org/) 65
Community guidelines for accessing forestry voluntary carbon markets The VCS currently has about fifteen approved methodologies for measuring GHG emission reductions from ‘Agriculture, Forestry and Other Land Use’ (AFOLU) projects. Project developers can choose the methodologies most appropriate to them, for different types of project under the categories of ARR, REDD, IFM and more. 15 The system also lets project developers propose and develop new methodologies if the existing ones do not meet their needs. The VCS system makes sure that all projects meet a high standard of quality; all project plans must be validated by an independent third party. An organization that has no stake in the success of the project checks that the plans make sense – and confirms that the project should achieve its objectives. When the time comes for a VCS project to claim its carbon credits, the project manager’s own calculations of actual emission reductions must also be verified by an independent third party. This organization (again, with no stake in the success of the project) checks that the project manager has done the calculations correctly and confirms how many carbon credits it can claim. These independent third parties are known as validation/verification bodies (VVBs). They must be approved by the VCS and be properly qualified to carry out these tasks. When GHG emission reductions have been verified, the project manager can request the VCS to issue carbon credits. In the VCS system, carbon credits are known as verified carbon units (VCUs), and whenever they are traded as carbon offsets on the VCM they are tracked through a registry system. VCUs can be linked with other standards such as the Climate, Community and Biodiversity (CCB) Standard. Investors in the VCM like this, because it gives them extra assurance that the carbon credits have delivered 15 http://www.v-c-s.org/methodologies/find-a-methodology?title=&tid=14 66
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RAP PUBLICATION 2012/16 Community g
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Foreword The impacts of climate cha
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Table of Contents Foreword iii Acro
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List of Boxes Box 1: Grouped projec
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SFE SFM SOC SOP UNFCCC USAID VCM VC
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Afforestation, Reforestation & Re-v
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Climate Change Adaptation 5 Adjustm
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minimum threshold values at maturit
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(PD) is an official term under one
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obtaining and maintaining project r
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Community guidelines for accessing
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5 Project implementation: field wor
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Chapter 5: Project implementation:
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6 Identifying, managing and quantif
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7 Further help and advice 155
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Chapter 7: Further help and advice
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Background information Table 9: Sou
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ANNEXES 171
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ANNEX I Part 1: Project description
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ANNEX I Describe the current and al
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ANNEX I Project Proponent(s) Name o
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ANNEX I Current status of acceptanc
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ANNEX I Baseline scenario What woul
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ANNEX I poverty alleviation, foreig
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ANNEX I Grants Give name of the org
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ANNEX I Part 4: Institutional detai
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ANNEX I Incentive systems List exis
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ANNEX II Annex II: VCS PD template
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ANNEX III Annex III: Example outlin
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ANNEX III 3.4.5. Non-timber forest
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ISBN 978-92-5-107322-3 9 7 8 9 2 5
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