The NCX program generates real, additional forest carbon credits through commitments from forest landowners to defer their planned harvests one year at a time. We believe large-scale and highly accountable carbon storage is what our planet needs. Annually verified and credited projects are an important mechanism in achieving that.
Earlier this month, we released our next generation harvest deferral methodology, an innovative approach to realize this vision. It is the next step in our work to align the science and technology necessary to deliver transparent, accountable, and high quality benefits for the planet.
As we have undergone this continuous development process, feedback from the broader carbon market community has been critical to our success. In spring of 2022, our initial harvest deferral methodology underwent review with Verra, one of the standards and verification bodies active in the voluntary carbon market. This included a 30-day public consultation period during which hundreds of public comments on the methodology were submitted.
We are grateful for this valuable feedback. The comments from other carbon project developers, NGOs, academic scientists, individual landowners, industry researchers, and trade organizations have led to several improvements in the scientific foundation and structure of our approach. For details on these changes, read our blog post that provides an overview of our new methodology.
While the public comment period was valuable, the initial methodology will not be updated under Verra due to their decision not to move forward with tonne-year accounting. Our annual harvest deferral approach requires measuring impact one year a time, and tonne-year accounting is a mechanism for quantifying that annual impact.
Verra had independently been considering the larger question of whether to adopt tonne-year accounting into their standard, but ultimately decided not to move forward with including it this year. As a result, NCX is now pursuing an alternate approach to certifying our work using our new methodology. We are excited about the potential offered by a new model, including greater transparency and insight for buyers and other stakeholders.
Moving forward, we will continue to take all feedback into consideration as we revise our methodology. We thank each commenter who took the time to read our initial methodology draft and provide thoughtful and detailed feedback. A summary of public comments received is available. In addition, detailed, line-by-line responses to more than 200 comments received can be found on our methodology GitHub repository.
If you would like to learn about our next generation methodology in detail, register for our webinar on November 30, 2022 at 10:00 a.m. PST.