The Integrity Council for the Voluntary Carbon Market (ICVCM) has approved Verra's VM0048 REDD methodology and the Jurisdictional and Nested REDD+ (JNR) Framework under its Core Carbon Principles (CCP) label. These methodologies, aimed at combating deforestation, introduce significant advancements in project- and jurisdiction-level forest conservation. The ICVCM approval represents a major milestone, setting a new benchmark for credibility in carbon offset markets.
The certification applies to Verra's VM0048 Reducing Emissions from Deforestation and Forest Degradation methodology and the associated module VMD0055, as well as JNR Framework version 4.1. These tools integrate national and subnational data to allocate deforestation risk effectively, leveraging cutting-edge satellite and remote sensing technologies. By enabling projects to set scientifically rigorous baselines, they ensure the integrity of credits generated.
Deforestation contributes 12% to 20% of global greenhouse gas emissions, making these methodologies critical to achieving the Paris Agreement targets. ICVCM estimates 423 million credits in the pipeline under the newly approved standards, which will become eligible for CCP labeling in early 2025. This label assures buyers of the highest quality, reinforcing confidence in voluntary carbon credits.
“This approval underscores the rigor of Verra’s REDD+ frameworks and their role in financing forest conservation with high integrity,” said Mandy Rambharos, CEO of Verra. “Our methodologies align with national climate goals and provide a trusted pathway for impactful investments.”
Verra’s JNR framework, first introduced in 2012 and updated in 2024, supports jurisdiction-level REDD+ programs and nested projects by linking site-specific efforts with broader deforestation risk mapping. This ensures proportional finance allocation to areas most at risk, driving progress toward long-term climate objectives.
ICVCM’s endorsement builds on years of scientific advancements, setting a precedent for integrity in forest conservation finance. Eligible credits will carry the CCP label starting in 2025, offering a pathway to restoring trust in the voluntary carbon market after REDD+ credits lost 62% of their value in 2023 due to concerns about inflated carbon savings.
