17 Sept 2024
Verra has permanently inactivated the use of UNFCCC CDM methodology AM0065: Replacement of SF6 with alternate cover gas in the magnesium industry in the Verified Carbon Standard (VCS) Program as of September 17, 2024.
AM0065 applies to project activities that replace the use of cover gas sulfur hexafluoride (SF6) in full or in part by another cover gas. A cover gas is used to prevent rapid oxidation of a weld zone due to atmospheric oxygen.
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In its most recent methodology decisions, the Integrity Council for the Voluntary Carbon Market (ICVCM) announced that carbon credits generated by projects using AM0065 would not meet the requirements of the Core Carbon Principles (CCPs) assessment framework. Verra’s inactivation follows a routine review of the methodology, per section 5 of the Methodology Development and Review Process and also considers ICVCM’s decision. Following its review, Verra determined that the methodology’s additionality requirement was out of date. There is also a strong indication that the activities covered by the methodology will become a common practice in the near future.
IMPLICATIONS FOR VCS PROJECTS
Projects that are using AM0065 and that are registered in the VCS Program can continue issuing Verified Carbon Units (VCUs) through the end of the current crediting period but cannot renew the crediting period.
Projects that are using AM0065 and are currently under validation or pipeline listed in the Verra Registry must complete validation by March 17, 2025.
There are currently two projects in the Verra Registry that use AM0065....
Read the full news release here
