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 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 Standard, foresters are proving tonnes of forestry CO2 removal, net of project GHG emissions, are or will be captured and proven stored until at least 2100.
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.
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.
Who we work with
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. Priority may be given to larger forests. These forests may qualify for both voluntary carbon credits (VCCs) as well as NZUs.
Forests not included above may qualify for NZUs, although they are less likely to qualify for VCCs.
VCCs may sell for NZ$65 / tonne or more.
In all cases, forests will have to be covenanted against felling before 2100, not turn carbon negative before 2100, and likely to be felled before 2100 before the covenant is registered. Forests will also be expected to be able to sequester 1,000 tonnes C02 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.
PFS & SGS Verification - VCCs
Once applicants' forests are verified under the PFS Standard methodology, proving tonnes of forestry CO2 removal, net of project GHG emissions, are or will be captured and proven stored until at least 2100, 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. The statements will be along the “We have removed or will remove 56,283 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. 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 – 30 days (depending on volume of applications)
The PFS Registry, managed by MUFG Pension and Market Services (NZ) Ltd, credits forester with VCCs and/or PGCCs on its website
Sales effected through MUFG.
You decide to proceed
Together we prepare your application including baseline measures, and a Project Development Document (PDD), Monitoring Plan (MRV) and if being sold through an off-take agreement whatever is needed to meet purchase’s requirements.
Verified by PFS & VVB
VCCs are credited to your MUFG account. 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
Forestry carbon sequestration capture and proven storage of carbon until at least 2100 (forestry DAC and storage) with ISO 14064-1 and ISO 14064-2 validation and verification, and possibly A6.4 corresponding adjustments.
Forestry Verification Services Ltd may shortly offer the following tonnes CO2 capture and proven storage until at least 2100:
200,000 tonnes p.a. for 10 calendar years commencing 2026
200,000 tonnes p.a. for 10 calendar years commencing 2027
Similar volumes for calendar years commencing 2028-2035 inclusive.
Further volumes may be available on request.
For expressions of interest and inquiries, please contact info@fvsl.co.nz
Notes:
All projects are 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 by the third-party verifier of compliance with the Standard.
SGS concludes in its ISO 14064 validation report that 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.
Purchasers can be named on as encumbrance against harvesting to be placed on the land title to the forest projects until at least 2100, together with a covenant in favour of the New Zealand Attorney-General.
Compliance with PFS Standard is intended to, 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.
A corresponding adjustment (ITMO) may be possible under Art 6.2 Paris Agreement. The PFS Standard can comply with SBM014-A06 (CDR reversals) and with other SMB014-A05 methodologies. A6.4-STAN-AC-004 (UNFCCC) adopts the principles in ISO 14064-2 to which PFS Standard has already been validated.
Attached is SGS sustainability assurance and PFS regulatory compliance statement. MUFG Pensions and Market Services Ltd (a division of MUFG) will be the documentary depository, settlement agent and platform operator/registry.
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.