The first project registered and the first Voluntary Carbon Units (VCUs) issued under the Voluntary Carbon Standard (VCS) were assessed by SGS. The VCS Association launched the VCS global registry system on 17 March. The first VCUs were issued by TZ1 VCS Registry.
"The success of the voluntary carbon market is dependent on robust processes, infrastructure and rigorous verification. SGS plays a critical role in ensuring the integrity of the credits issued," said Helen Robinson, CEO TZ1 Registry. "Their attention to quality is evident in the reporting found in these first VCUs issued on the TZ1 Registry."
Mark Kenber, Chair of the VCSA, said: “The involvement of world class verifiers like SGS demonstrates the wide acceptance that the VCS has gained across the carbon market. SGS has provided support for the VCS since its inception and I congratulate them on having verified the first VCUs to be formally issued into the new VCS registry system”.
Edwin Aalders, Director, International Emissions Trading Association (IETA), says: “Verifiers are an important component of any successful emission reduction standard. SGS has been supportive of the VCS from the start, as a member of the Steering Committee and chair of the Verification Working Group. I wish them the same success in the VCS as they have as a major verifier in the CDM.”
Lisa Ashford, Global Head of Voluntary and New Markets at EcoSecurities stated "Being able to electronically hold and transfer Voluntary Carbon Units from projects in EcoSecurities' VER portfolio, such as the Indian wind project verified by SGS, is extremely exciting and marks another step forward in the development of the Voluntary Carbon Market".
Robert Dornau, VP Climate Change Services, SGS adds "SGS recognizes the VCS as the most credible voluntary standard to assure that emission reductions are real and measurable. We see an increasing demand in voluntary credits using the VCS, a standard that assures the integrity of this market. Choosing SGS assures timely delivery.”
The SGS Climate Change Programme was established in 1997. SGS is accredited and active in all GHG programmes world wide. Our expertise is based on the validation and verification of hundreds of greenhouse gas projects and inventories, ranging from the smallest through to the largest multi-site/ multi-country emitters, and from simple through to complex and diverse project portfolios.
Voluntary Carbon Units (VCUs) are credits which have been verified against the Voluntary Carbon Standard (VCS) criteria and are the global benchmark for project-based voluntary greenhouse gas emission reductions and removals. A VCU represents one tonne of greenhouse gas reduction or removal.
SGS is the world’s leading inspection, verification, testing and certification company. Recognised as the global benchmark for quality and integrity, we employ over 55,000 people and operate a network of more than 1,000 offices and laboratories around the world.
For more information:
VP Climate Change Services
t: +41 79 689 22 42
View the full press release from VCS at the following link: www.v-c-s.org
For more information about the TZ1 VCS Registry please visit: www.vcsglobalregistry.com