FVSL supports foresters through the PFS verification process, and once verified, assists with selling the PFS verified tonnes of carbon capture and long term storage to entities wanting to make a genuine impact on climate change for the long term.
What we do
We contract with foresters and PFS to introduce forests for verification to earn Voluntary Carbon Credits (VCCs). All PFS verified forests are also verified by an independent third-party VVB (Validation/Verification Body).
By meeting the SGS validated PFS Standards, foresters are proving tonnes of forestry CO2 removal, net of project GHG emissions, are or will be captured and proven stored as required by IPCC and UNFCCC Supervisory Body requirements or guidelines.
FVSL are here to help forest owners prepare their applications and gather the information required to meet the PFS Standard.
This allows foresters to monetise the carbon in their forest, while making a real difference to the fight against climate change.
SGS - The world’s leading inspection, testing and certification company has validated the PFS methodology conforms to the principles and essential requirements outlined in ISO 14064-1:2018, ISO 14064-2:2019 & ISO 14064-3:2019. “SGS recommends the adoption of PFS Certification Standard”. Visit website.
PFS - Verify forestry carbon capture and long term storage, validated to ISO, and recommended, by SGS. Visit website.
Captured and proven stored until at least 2100
What forests may qualify
The ideal forest is planted before 2008 and over 50ha, or not in the ETS although this need not be an impediment. Priority may be given to larger forests. Some forests may qualify for both voluntary carbon credits (VCCs) as well as NZUs.
VCCs may sell for NZ$65 / tonne or more.
In all cases, forests will have to promise to continue to grow their forests in accordance with IPCC and UNFCC Supervisory Body requirements and guidelines, will not turn carbon negative before 2100, but would be felled before 2100 without the sale of VCCs. Forests will also be expected to be able to sequester 1,000 tonnes Co2 in the 50 years after planting.
Forests will ideally have been planted for at least 10 years to achieve commercially significant Co2 Sequestration qualifying for VCCs, but pre-sales are possible. If you are unsure, please ask us.
If your forest species is a wilding conifer, and will likely spread beyond project forest boundaries, you will be required to have and maintain a wilding control plan acceptable to your ISO verifiers, and this will involve public notice of your project, and its possible impact on local owners and communities.
PFS & SGS Verification - VCCs
Once applicants' forests are verified under the PFS Standards proving tonnes of forestry CO2 removal, net of project GHG emissions, are or will be captured and proven stored in accordance with IPCC and UNFCCC Supervisory Body requirements and guidelines they may be eligible for VCCs.
Voluntary Carbon Credits (VCCs) refers to carbon credits that are not credited to a registry by a government, other than under the Paris Agreement Art 6 mechanism and includes PFS stored CO2 carbon credits.
GHG Statements
PFS VCCs allow an emitter to make GHG Removal Statements of a type verified by PFS and its VVB. Such statements may be “We have removed or will remove tonnes CO2 from the atmosphere and can prove with reasonable confidence that such removals will not be reversed before 2100”.
What makes the PFS Standard more robust than most other standards is that PFS requires proof of long term longevity. Part of that proof will be using PFS “best practice” for measuring longevity of CO2 forestry storage.
What you do now
If you want more information regarding making an application to PFS to have your forest assessed or verified, we are contracted to provide that service to you.
There may be some outgoings necessary in taking each of the steps required by PFS, but we will advise and support you through the process.
Indicative timeframe to get your application ready, verified and resulting units sold
30 days for PFS to verify once it has all required information
Time for VVB to verify – 60 days (depending on volume of applications)
The PFS Registry, managed by renown international financial institutions, credits forester with VCCs
Sales effected directly between you and buyer
You decide to proceed
Together we prepare your application including baseline measures, and a Project Development Document (PDD), Monitoring Reporting and Verification Plan (MRV), Implementation Plan and Risk Mitigation Plan, and if being sold through an off-take agreement whatever is needed to meet purchasers requirements.
Verified by PFS & VVB
VCCs are credited to your account, managed by a renown international financial institution, whom you will have successfully onboarded with. If you want corresponding adjustments these will have to be negotiated with the Government, and may not be available.
Credits are sold. This may be by off-take agreement rather than over-the-counter.
For emitters - what is coming up
150,000 tonnes plus of forestry carbon sequestration capture and proven storage of carbon (forestry DAC and storage) with verification to ISO 14064-1 and ISO 14064-2 validated standards.
Notes:
All projects are currently limited to forests currently growing in New Zealand.
All volumes verified to PFS Standard Part II Version 1 “Best practice for proof forestry CO2 captured remains stored until 2100”, itself validated to ISO 14064-2 by SGS. SGS is the world’s leading testing, inspection and certifier and is accredited to ISO. SGS will be the third-party verifier of compliance with the Standard.
SGS in its 2nd July 2024 ISO 14064 validation report concluded the consideration of IC-VCM principles is “clear and appropriate”, and systems have been established for project and data tracking, including use of forest monitoring system and for tracking. Monitoring is required until at least 2100.
Compliance with PFS Standard will provide an effective defence against greenwashing claims and be consistent with consumer protection regulations, financial market participation rules and financial reporting requirements, including climate change disclosures (IFRS, ISSB etc). Compliance is also intended to ease supply chain partner pressures and demands of bankers, activist shareholders and the like.
Attached is SGS sustainability assurances.
This document does not constitute an offer of securities or other financial or equity products required to comply with related laws or regulations of any jurisdiction. If it does it, no offer is made in such jurisdictions.