(Reuters) - A carbon accounting technique aimed at saving tropical forests has passed a key hurdle, strengthening chances it could underpin development of a potential multi-billion dollar market for forest carbon offsets.
U.S. firm Terra Global Capital said the method had passed the first of two formal audits the benchmark Voluntary Carbon Standard (VCS) requires. When fully verified, it could be used in a U.N.-backed carbon-cutting scheme known as reduced emissions from deforestation and degradation (REDD).
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