All Transformation Carbon projects comply with specific carbon offset standards and undergo a rigorous assessment by independent third-party auditors that assure the carbon offsets are real and measurable.
Currently, we are certifying all new projects under the VERRA Verified Carbon Standard (VCS). In the past we have used both United Nation's Clean Development Mechanism (CDM) and Climate Action Reserve (CAR) as our primary carbon offset standards.
The VCS is a voluntary greenhouse gas accounting standard managed by VERRA, a 501(c)(3) not-for-profit organization formed in 2005 and headquartered in Washington, DC. Projects developed under the VCS Program must follow a rigorous assessment process in order to be certified. VCS projects cover a diverse range of sectors, including renewable energy (such as wind and hydroelectric projects) and forestry (including the avoidance of deforestation), among others. Emission reductions certified by the VCS program are eligible to be issued as Verified Carbon Units (VCUs) with one VCU representing one metric tonne of greenhouse gas emissions reduced or removed from the atmosphere.
The CDM allows emission-reduction projects in developing countries to earn certified emission reduction (CER) credits, each equivalent to one tonne of CO2. These CERs can be traded and sold, and used by industrialized countries to a meet a part of their emission reduction targets under the Kyoto Protocol. The mechanism stimulates sustainable development and emission reductions, while giving industrialized countries some flexibility in how they meet their emission reduction limitation targets.
CAR began as the California Climate Action Registry, which was created by the State of California in 2001 to address climate change through voluntary calculation and public reporting of emissions. It has now become the premier carbon offset registry for the North American carbon market.
CAR establishes high quality standards for carbon offset projects, oversees independent third-party verification bodies, issues carbon credits generated from such projects and tracks the transaction of credits over time in a transparent, publicly-accessible system.