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Voluntary Carbon Standard |
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The Voluntary Carbon Standards (VCS) is known to appraise clean-energy projects that are developed in developing economies. These clean-energy projects are developed to compensate emissions of greenhouse gases.
Voluntary Carbon Standard (VCS) are mainly aimed to appraise the bio-energy projects that are used to compensate manufacturing nations' emissions of greenhouse gases as per the Kyoto Protocol's Clean Development Mechanism. Voluntary Carbon Standard (VCS) is a compensate standard for carbon emissions. Voluntary Carbon Standard mainly focuses on green house gas reduction feature and doest take in to account other environmental and social benefits.
Voluntary Carbon Standard was published in several versions. First version was published in March 2006 by The Climate Group (TCG), the International Emissions Trading Association (IETA) and the World Economic Forum Global Greenhouse Register (WEF). The second version which was Voluntary Carbon Standard 2007, published in November 2007. This version was published after consulting a 19-member Steering Committee. They carried out a thorough review of the earlier version of Voluntary Carbon Standard. This 19-member Steering Committee was mainly made of members belonging to NGOs, DOEs, industry owners, project developers and large carbon credit buyers. World Business Council for Sustainable Development also joined Voluntary Carbon Standard in year 2007. Voluntary Carbon Standard was published with the view that it will be constantly updated yearly for the initial two years and then after completion updating will take place in every two years.
Voluntary Carbon Standard also includes several administrative bodies. VCS Association is the prime managing body of Voluntary Carbon Standard. It is an independent, non-profit organization, which is registered under Swiss law and also embodies the VCS Secretariat and the VCS Board. VCS Secretariat shares the responsibility of dealing with stakeholder queries, managing relationships and accreditation bodies. It also manages VCS official website and projects database. VCS Board takes care of the significant changes made to the Voluntary Carbon Standard 2007. It is also responsible for approving other GHG Standards, project methodologies and additional performance standards.
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