In 2005, The Climate Group, International Emissions Trading Association  (IETA) and The World Economic Forum - convened a team of global carbon market experts to draft the first VCS requirements. The World Business Council for Sustainable Development (WBCSD) joined the effort soon after. These experts soon formed the VCS Steering Committee, which worked to draft the first and subsequent versions of the VCS Standard. Many of the members of the original steering committee went on to be on the original Board of Directors, which now has evolved into a body of 12 members that offers input and guidance to the organization.
By 2008, with the VCS Standard becoming more widely adopted, the Board of Directors named David Antonioli  the organization’s first Chief Executive Officer. Soon after in 2009, VCS incorporated in Washington D.C as a non-profit NGO.