Carbon standard Verra on Wednesday issued a call for projects to pilot its long-awaited SD VISta Nature Framework and biodiversity methodology ahead of a public consultation process expected to launch in September.

The leading crediting standard in the carbon market last year began work to develop a methodology under which project proponents can earn nature credits for projects that reduce decline in, restore, or maintain existing biodiversity.

It is now seeking developers to pilot the framework it has designed in a milestone for the programme, which is expected to become one of the chief standards in the emerging global voluntary biodiversity credit market.

“Pilot projects will have the opportunity to help shape the Nature Framework, and will be prepared to start the registration process once Verra publishes them,” Verra said in a statement Wednesday.

“Project proponents using the Nature Framework will be able to verify the biodiversity outcomes of their projects and issue tradable nature credits as standalone assets.”

While several early movers have already designed and launched their own biodiversity methodologies, market participants – especially those already active in the carbon market – have been awaiting news on progress on the frameworks being prepared by Verra and Plan Vivo, given their experience in nature-based carbon projects.

Verra’s framework, when published in a draft version in September, will include the core concept and principles for its nature credits, including social and environmental safeguards.

“The Nature Framework will provide information about the characteristics of standardised units and their measurement, including additionality, project time commitment, credit durability, and baseline scenario,” Verra said.

All geographies, ecosystems, and biomes will be covered by the framework, and projects under all of those are eligible to apply for pilot statues by Aug. 4, with the pilots due to begin the following month.

“The purpose of the pilot is to test the clarity, reasonableness, local appropriateness, scalability, and usability of the draft Nature Framework,” said Verra.

By Stian Reklev – stian@carbon-pulse.com

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