Frequently Asked Questions (FAQs) about the Verra Registry Transition
NOTE: These FAQs will be refreshed periodically. Please check this page for occasional updates.
(As of 11 December 2019)
The decision is directly tied to Verra’s strategy of broadening the scope of standards we manage. Over the years, we have taken over the management of or developed new standards, including the Climate, Community & Biodiversity (CCB) Standards and the Sustainable Development Verified Impact Standard (SD VISta). We anticipate that our portfolio of standards will continue to grow. Each of these standards will ultimately require the supporting services provided by a registry, and we believe that centralizing Verra registry administration will lead to more efficient and streamlined registry services.
Verra staff have been intimately involved in overseeing and guiding registry services provided by APX and IHS Markit, meaning we understand well the services we will need to support. In fact, Verra already administers one in-house registry in its capacity as an Offset Project Registry (OPR) for the California compliance offset program. The OPR will be integrated into the new Verra registry platform.
To complete this in-housing, we have partnered with APX to build our registry platform and have hired several new staff to manage account openings, oversee registration and issuance requests, and ensure the system runs smoothly and efficiently.
Until now, Verra’s multi-registry system has been the exception to the rule regarding registry administration. All of the major GHG programs manage their own registries.
Yes, if you are an active account holder participating in the APX or IHS Markit registries your projects, issuances, and active credit balances (i.e., holdings) will be available in the new Verra Registry. Historical actions such as approvals, status changes and inter-registry or account transfers will not be “in registry” but will be available via report or data extract.
Organizations who have outstanding financial obligations to APX or IHS Markit may not activate an account on the new Verra Registry until they are in good standing with the relevant existing registry.
In the case of APX: APX will issue checks to each account holder refunding them the full amount of any credit balance.
In the case of IHS: account holders may reach out to IHS Markit with any questions.
Fee arrangements that account holders have with APX or IHS Markit will remain in effect until the Verra Registry has launched. As of the Go Live Date, a new Verra fee schedule will apply. Verra will publish its fee schedule with enough advance notice to allow account holders time to factor any registry-related expense changes into their financial plans. It is Verra policy to be transparent and fair with the fees it charges, meaning that they will be applied in the same manner to all users.