After a three-year process, on Monday (27 Nov) Verra unveiled the much anticipated methodology addressing emission reduction from deforestation and forest degradation projects (commonly refer to as REDD): VM0048 Reducing Emissions from Deforestation and Forest Degradation, accompanied by module for avoiding unplanned deforestation (AUD): VMD0055 Estimation of Emission Reductions from Avoiding Unplanned Deforestation. REDD projects, which constitute 24.8% of globally issued credits, have faced heightened scrutiny in the past year, resulting in a ripple effect across other market segments. This recent update holds profound implications for projects relying on five established methodologies: VM0006, VM0007, VM0009, VM0015, and VM0037.
Key updates and transition process The update introduces several pivotal changes to the REDD methodology landscape. Notable adjustments include the adoption of jurisdictional-level data for baseline setting, a shift from reference regions for projecting f…
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