Verra Launches General public Consultation on ABACUS Market Label for Character-Based Elimination Credits

Verra is launching a community session on the ABACUS label, a new market place label that can be utilized to Confirmed Carbon Models (VCUs) from assignments validated and verified to Verra’s new afforestation, reforestation, and revegetation (ARR) methodology if these models meet a established of essential top quality needs.

By evidently figuring out units that satisfy the proposed demands, the ABACUS label aims to unlock finance for superior-good quality and trustworthy carbon removals, scaling the progress of character-based mostly greenhouse gas elimination tasks and catalyzing the current market for the higher-integrity credits these jobs situation. The ABACUS label will allow for for the piloting and testing of new concepts, which enables Verra and the ABACUS Operating Group to keep track of the functionality of these ideas and facilitate their even more improvement and workability for long term methodological improvements.

For tasks to problem VCUs with the ABACUS label, they should meet critical prerequisites relating to the subsequent facets:

  • Additionality and baseline: Jobs have to use a dynamic overall performance benchmark that tracks carbon stock improve in matched controls in the course of the project’s life span.
  • Leakage: Projects should successfully reduce leakage by maintaining or maximizing agricultural generation in the challenge or bordering landscape.
  • Greenhouse Fuel Accounting: Undertaking quantification should be based mostly on specifically measured in-situ knowledge and transparently reported details and styles.
  • Permanence: Assignments will have to be explicitly created to lower reversal danger, annually monitored to boost transparency, and made to keep carbon shares right after a constrained crediting period of time.

The ABACUS label also aims to advance a number of Sustainable Progress Aims (SDGs), like Zero Hunger (SDG 2), Weather Motion (SDG 13), and Lifestyle on Land (SDG 15).

The label was proposed by the ABACUS Performing Group.*

This general public session follows a pre-consultation that Verra held last year to assemble opinions before refining the proposed label’s important concepts. Verra now requests community comment on the total version of the proposed ABACUS label. Remember to examine the ABACUS Label Session Document (PDF).

Responses to the questions down below and any other comments may well be submitted applying the consultation feed-back form by December 15, 2023. The ABACUS Performing Team will assessment, respond to, and use these reviews and other responses to finalize the label needs. If you have any queries about this session, be sure to electronic mail [email protected].

Sherri Crump

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