Verra’s Plastic Program enables projects to undertake the collection and/or recycling of plastic waste to generate high-quality Plastic Credits. The project development process includes four steps, outlined below.
The Develop a Project under Verra’s Plastic Program: A Quick Guide document provides an detailed overview of the project development and registration process.
1: Choose a Methodology
The first step in the project development process is selecting a methodology applicable to the proposed project. Reviewing the methodology requirements can help a project determine whether its collection and/or recycling activity is eligible to register with the Plastic Program and issue Plastic Credits.
2: Validate Project Description
Project proponents then develop a project description using the Plastic Project Description Template. The project description can be developed before, during or after project implementation.
Projects proponents must open an account on and submit all required documents via the Verra Registry in order to request registration with the Plastic Program and issuance of Plastic Credits.
Once the project description is publicly listed on the Verra Registry and the project starts its 30-day public comment period, the project description is validated by an approved validation/verification body (VVB). Once the VVB concludes the validation, the project proponent may submit the project to Verra for registration.
3: Verify Collected and/or Recycled Plastic Waste
When a project activity starts, project proponents monitor and measure the collected and/or recycled plastic waste. All information for a given monitoring period is documented in a monitoring report using the Plastic Project Monitoring Report Template. The monitoring report must be verified by an approved VVB. Once the VVB concludes verification, the project proponent may submit the project to Verra for verification approval.
Projects that have already begun their activities at the time of registration may combine validation and verification. Under this approach, Step 2 and 3 would be combined.
4: Issue Plastic Credits
Once Verra approves the project’s verification approval request, the project proponent requests Plastic Credit issuance. The credits will be deposited into the project proponent’s Verra Registry account and can then be transferred to buyers.