Eligible LUF Projects are entitled to generate verified emission reductions (VERs—carbon credits). Eligibility criteria are:
A project first must go through a Preliminary Review and, if successful, a project will be "Listed" in the registry. Following the Preliminary Review, a project must go through a third-party audit called "validation", which results in a validation report that then must be reviewed by SustainCERT and the Gold Standard (GS) Technical Advisory Committee (TAC) in a process called Project Design Certification. Following a successful review, the project is "Registered" in the registry. Finally, there is the verification stage (when a project gets to issue VERs, which is also audited by a third-party auditor. This step results in a verification report that is also reviewed by SustainCERT and the GS TAC in a process called Performance Certification. The result of this review, if successful, is that VERs are issued to the project.
A forest/non-forest assessment must be conducted to determine eligible areas to issue GS VERs. Guidelines to conduct a SPATIAL FOREST/NON-FOREST ASSESSMENT can be in Annex C of Land Use & Forestry Activity Requirements.