Verra has opened a public consultation on the draft Methodology for Early Retirement of Coal-Fired Power Plants Using a Just Transition in the Verified Carbon Standard (VCS) Program. This consultation will run from December 4, 2023, until January 16, 2024.

The consultation includes the following documents:

The methodology and module enable owners or operators of coal-fired power plants to access finance that can support an early retirement of the plant without impacting ratepayers or preventing the plant operators or owners from meeting other fiduciary obligations. The methodology quantifies the emissions avoided using the operating history of the plant as a baseline. It also requires the pairing of new renewable energy-generating capacity with the retired coal capacity to prevent leakage. Any residual leakage is accounted for by applying conservative discounts for all emissions from grid electricity needed to replace the retired plant.

The methodology includes comprehensive requirements to ensure a just transition for local communities and vulnerable groups who will be affected by the retirement of such plants.

The initial version of the methodology focuses on utility proponents and independent power producers in regulated electricity markets. Future versions of the methodology may include deregulated electricity markets.

The draft Methodology for Early Retirement of Coal-Fired Power Plants Using a Just Transition has been developed by the Rockefeller Foundation-led Coal to Clean Credit Initiative.


To provide feedback on the draft methodology, please complete the comment template (xlsx) and submit it to by January 16, 2024.

This is a preliminary consultation to inform further development of the draft methodology and module. Verra will host another public consultation after initial feedback has been incorporated into the draft methodology and tool and after Verra has completed its review, per Section 3.3.7 of the VCS Methodology Development and Review Process, 4.3 (PDF). The documents contain italicized, gray-highlighted text in brackets to indicate content for which feedback is particularly valuable.