The Verified Carbon Standard (VCS), formerly the Voluntary Carbon Standard, is a standard for certifying carbon emissions reductions. VCS is administered by Verra, a 501(c)(3) organization. In 2023, an investigation by The Guardian, Die Zeit, and SourceMaterial, a non-profit investigative journalism outlet, found that about 94% of the rainforest carbon offsets provided by Verra are worthless and that the standard may worsen global heating. In 2005, carbon markets investment advisory firm Climate Wedge and its partner Cheyne Capital designed and drafted the first version (version 1.0) of the Voluntary Carbon Standard, intended as a quality standard for transacting and developing "non-Kyoto" Protocol carbon credits, namely voluntary carbon emissions reductions from greenhouse gas reduction projects that met the quality and verification standards of the UNFCCC Kyoto Protocol's Clean Development Mechanism (CDM) carbon offset mechanism, but were not eligible due to geographic or timing constraints of the Kyoto rulebook (e.g. carbon offset projects in the USA, Hong Kong, Turkey, etc that were not eligible for the CDM). More information...
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