The Voluntary Carbon Market guidebook. By Proba.

The Voluntary Carbon Market (VCM) is a decentralized ecosystem where businesses and individuals can purchase carbon credits from verified projects that reduce or remove greenhouse gases. Unlike regulated compliance markets, participation is entirely voluntary and driven by sustainability goals.

The VCM changes quickly - but it has a lot of opportunities for individuals, companies, and organizations to drive climate action that are meaningful.

Truth is, it’s confusing out there -  new terms, unfamiliar acronyms, and some actors that you should familiarize yourself with first. This guide is designed to help you navigate the essentials of the VCM (and learn what Proba’s role is in it).

Actors across the different stages of certifying a GHG Project.

What is a GHG Project?

At the heart of the VCM is the GHG project. These projects either reduce or remove greenhouse gas (GHG) emissions. Anyone can develop a GHG project, farmers, farmer cooperatives, specialized project developers, whoever. 

Understanding methodologies

To calculate the impact of a GHG project, you need a methodology, a rulebook that ensures emissions reductions or removals are measured accurately. Methodologies can be developed by anyone, and they define the standards for:

• Quantification of emission reductions.
• Monitoring, Reporting, and Verification (MRV) of project outcomes.
• Ensuring additionality (the reductions wouldn’t have happened without the project).

For instance, Proba is currently developing a methodology as part of a large-scale project with the International Fertilizer Association (IFA), focused on the application of nitrogen stabilizers along with fertilizers. . 

MRV: Monitoring, Reporting, and Verification

MRV is a crucial part of every GHG project. Here’s how it works:

• Monitoring and Reporting: Typically handled by the project developers and can be supported by digital tools to streamline data collection.
• Verification: Independent auditors, known as Validation and Verification Bodies (VVBs), ensure that the project meets its stated objectives.

The role of the certification bodies

Proba is a Certification Body, operating similarly to well-known standards like Verra and Gold Standard but with key differences:

• Proba is a commercial company, not a non-profit.
• We specialize in supporting insetting, projects aimed at reducing Scope 3 emissions within supply chains.

Our responsibilities include:

1. Defining the rules: Establishing and implementing the methodologies, MRV processes, and guidelines. For more details, explore our Document Library.
2. Issuing Credits: Ensuring that credits are properly issued, claimed or retired to avoid double counting. Our online platform and registry manages this process, making it transparent and efficient. Check it out here.

How Proba fits in

We focus on fertilizer-related emissions in the agri-food sector:

• Collaborating with stakeholders like the International Fertilizer Association (IFA).
• Developing methodologies and software to simplify the insetting process.
• Supporting project developers in quantifying emissions and issuing credits.

Importantly, we do not act as project developers, VVBs or credit traders. Our business model is simple: we charge a small fixed fee per issued credit. 

Traders and Buyers

Once credits are issued, project developers can sell them directly to buyers or work with brokers or traders. If buyers are food companies, and the GHG Project is in their upstream supply chain they can use these credits to reduce Scope 3 emissions. 

In many cases, offtake agreements are established before a project begins, guaranteeing a buyer for the credits. The price of these credits is determined by the market, and typically ranges between $50 and $100 per metric ton of CO₂e.

Navigating the Voluntary Carbon Market

One key characteristic of the VCM is its unregulated character. Because participation is voluntary, the market lacks formal regulations, which can lead to variability in standards and practices. This enables innovation but also demands a lot of due diligence from participants.

In insetting projects, those conducted within existing supply chains, requirements and processes can vary widely. Reporting companies might have different requirements for the credits they purchase.

Why Choose Proba?

Proba offers:

• Expertise in fertilizer-related emissions reductions.
• Transparent methodologies and robust certification processes.
• A data-aware registry for seamless project management and credit issuance.
• End-to-end traceability of emission reductions, credits and claims across supply chains, ensuring transparency and accountability.

As the VCM continues to grow, Proba remains committed to helping partners navigate its complexities and achieve measurable climate impact.

All in all

The voluntary carbon market is a dynamic space for driving real climate action, but navigating its complexities requires the right partner. By focusing on transparency, credibility and specialization, Proba helps turn climate ambitions into measurable results.

Whether you’re a project developer, a buyer or a supply chain partner, Proba simplifies the process so you can focus on creating impact.

Ready to take your climate strategy to the next level? Let’s work together to deliver measurable, lasting change.


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