The the Verified Carbon Standard (VCS) has announced that the scope of the VCS Program will now exclude projects that reduce hydrofluorocarbon-
23 (HFC-23) emissions.
To that end, and with a particular eye on the progress under the Montreal Protocol, G-20 and other bilateral government discussions on the international regulation of hydrofluorocarbons (HFCs), specifically as they relate to HFC-23, the VCS will no longer approve or accept for consideration new methodologies and projects relating to HFC-23.
"We believe that the Montreal Protocol is an appropriate mechanism for addressing HFC-23 emissions, despite the important role that carbon markets have played in addressing this greenhouse gas. Should there be little progress towards direct international regulation of HFC emissions over the coming years, VCS could consider whether market incentives have a role to play in this area," announced the VCS update.
The program update set out above is effective from 9 January 2014. Any projects listed on the project
pipeline prior to 9 January 2014 are granted six months to complete validation. Besides this, new projects
are not eligible under the VCS Program. CDM methodology AM0001 may no longer be applied, and new
methodologies addressing HFC-23 emissions may not be proposed under the program.
Projects which are already registered remain eligible until the end of the project crediting period. Such
projects are not eligible to renew their project crediting periods. In keeping with all updates to the VCS rules, registered VCS projects remain eligible for crediting until the end of their project crediting periods.
VCS revises the program periodically, as part of its commitment to improve the VCS Program and remain at the cutting edge of innovation in voluntary carbon market