Voluntary Offsetting

Overview

The Voluntary Offset Standard (VOS) is a carbon offset screen that accepts other standards and methodologies using certain screening criteria. It currently accepts Gold Standards VER projects and projects that employ CDM procedures but which are implemented in countries that have not ratified the Kyoto Protocol and are therefore not eligible for Clean Development Mechanism.

History of Standard

The International Carbon Investors and Services (INCIS) launched the Voluntary Offset Standard in June 2007. INCIS is a not-for-profit association of large investment companies that provide carbon-related investments and services. INCIS has 26 members (as of November 2007).

Administrative Bodies

Since the VOS is a new standard, many of its administrative structures are not yet in place

Members: INCIS was initially set up as the “European Carbon Investors and Services” but has since its launch expanded to represent the interests of 26 members based both within and outside of Europe. These include, among others, ABN AMRO, Baker & McKenzie, Barclays Capital, Climate Change Capital, Credit Suisse, Deutsche Bank, Fortis, ING, MGM International, Morgan Stanley, and Standard Bank.

Auditors: UNFCCC approved DOEs verify and approve projects.