An important development.
Last year, Verra released its innovative new REDD methodology (VM0048) and a new module for Avoided Unplanned Deforestation activities (VMD0055). The launch was the culmination of over three years of work which started in 2020. VM0048 uses a new approach to account for emission reductions from deforestation and forest degradation, explains Naomi Swickard, Verra’s senior director, REDD+ program development and innovation. To set the baseline for a REDD project – which is used to calculate emission reductions that the project achieves – VM0048 essentially scales the reference area to the full jurisdiction and allocates deforestation risk across the jurisdiction, including to specific project areas to determine the deforestation that is likely to occur there. This process aligns the accounting of these emission reductions with emerging national and subnational programs, ensuring projects are consistently accounted across a jurisdiction. The development of this approach builds on 10 years of experience and enhances efforts to achieve national climate action targets outlined in the Paris Agreement. This is the second video in a series about Verra’s new REDD methodology. More information about the methodology: https://bit.ly/3RgCnE5 #Verra #CarbonCredits #CarbonMarkets #ClimateChange
