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# VVB Policy

## 1. Introduction and Scope

Validation and verification are critical to ensuring that for every claimed tonne of carbon removal or conservation, there was one tonne of carbon removed or conserved. This policy sets forth the requirements that Validation and Verification Bodies (VVBs) must meet to be approved and remain eligible to conduct audits under the Nature Climate Standard (NCS).

This document extends the requirements outlined in the NCS's validation and verification sections and provides clarity on VVB accreditation, qualifications, and oversight.

## 2. Accreditation

To become an approved VVB under the NCS, an entity must demonstrate accreditation, which may include:

* Accreditation from an International Accreditation Forum (IAF) member against ISO 14065.
* Accreditation from a governmental or intergovernmental regulatory body.

The accreditation must be valid throughout the validation and verification process. The Nature Value Foundation (NVF) will conduct regular checks on the status of VVB accreditations.

## 3. Auditor Competencies and Requirements

In addition to accreditation, VVBs must meet certain minimum requirements to conduct audits under the NCS:

* An audit team must include at least a team leader and a separate validator or verifier. Validation and verification cannot be conducted by a single individual.
* The audit team must possess expertise in the NCS rules and requirements, as well as sector-specific knowledge related to the project’s activities.
* Personnel records, including CVs detailing education and work experience, must be submitted for all auditors involved.
* VVBs must complete an onboarding process to familiarise themselves with the NCS and relevant methodologies.

## 4. Approval Process

Before conducting validation or verification activities under the NCS, a VVB must be approved through the following process:

1. Submission of the NCS VVB Application Template.
2. The NVF will conduct a completeness check and review the application. If the application is incomplete, the NVF will request the missing information.
3. The NVF will notify the applicant of its decision to approve or reject the VVB application.

Approved VVBs will be listed on the NVF website.

## 5. Oversight

The NVF will oversee the activities of VVBs during the validation and verification process. This oversight includes:

* Regular checks on the qualifications of approved VVBs.
* Quality reviews of audit reports before credit issuance. Any shortcomings identified in the report must be addressed by the VVB before credits are issued.
* Reporting any significant or repeated performance concerns to the relevant accreditation bodies.

## 6. Conflicts of Interest

VVBs must demonstrate independence from both the NVF and the projects they audit. Measures include:

* VVBs cannot audit projects they have been involved in developing or for which they have provided protocol development services.
* As part of the application process, VVBs must declare any conflicts of interest. The NVF will review these declarations to mitigate potential conflicts.
* A declaration of impartiality and the absence of conflicts of interest must be signed before starting the audit. This includes confirming that no family members of auditors are involved in promoting or dealing in the relevant credits.
* If a conflict of interest is identified during the audit, the NVF may take corrective action, such as suspending the relevant personnel from the audit or selecting another VVB.

Projects may only work with a single VVB for a maximum of five consecutive years, as per the NCS's rotation policy.

## 7. Reporting Requirements

Before conducting validation or verification, VVBs must prepare a validation or verification plan that outlines their activities and schedules in accordance with the NCS.

After the validation or verification process, the VVB must submit:

* A statement including the project vintage, methodology used, and the quantity and type of mitigation outcomes.
* A detailed report that includes both material and immaterial findings.

Reports and statements will be made publicly available on the NCS registry, subject to confidentiality constraints where applicable.
