Updated Verra Fee Schedules - FAQs
On 30 March 2023, Verra announced the publication of updated fee schedules for its Verified Carbon Standard (VCS) Program, Climate, Community & Biodiversity Standards (CCBS) Program, Sustainable Development Verified Impact Standard (SD VISta) Program, and Plastic Program.
Read the full announcement about Verra’s new fee schedules.
Below, please find the answers to some frequently asked questions.
Verra is changing its fee schedules to simplify the VCS Program costs; to align Verra’s fee schedules with those of other standards, in many respects; and to enable Verra to continue delivering high-integrity greenhouse gas and sustainable development crediting programs that meet the demands of rapidly growing markets, while addressing the operational and financial needs of the organization.
The new fee schedules include simplified issuance and label fee structures, making it significantly easier for project proponents to estimate the costs of operating their projects.
The account opening fee covers the cost of the new account’s registration and “Know Your Customer” (KYC) review. The account maintenance fee covers the cost to maintain and update the account throughout the calendar year.
No, the account maintenance fee is payable in full with no prorating when a new account is approved, and is subsequently invoiced every January.
Yes, every entity who holds an account as of 1 May will receive an account maintenance fee invoice on 1 May 2023. The fee will not be prorated.
No, the new VCS project registration review fee will not act as a pre-payment. This fee covers the cost of Verra’s review, and the invoice must be paid before the Verra Registry will process the registration request.
Yes, all existing VCS pre-payment credit balances will continue to be applied towards future issuance levies on a project until the balance is exhausted.
Yes, these fees will continue to be credited towards future Plastic Credit issuance levies or the respective label fees.
No, the account holder will not receive a new invoice and should pay their original project registration fee invoice.
No, the account holder will not receive a new invoice and should pay their original VCU issuance levy fee invoice.
Yes, the account holder will receive an invoice for the new pipeline listing request fee. The invoice must be paid before the Verra Registry will process the pipeline listing request under validation to start the public comment period.
The new VCS pipeline listing request fee and project registration request review fee must be paid before the Verra Registry will process the listing or registration request.
No, the account holder will not be refunded if the request is denied or if the project is rejected.
No, the retroactive labeling fee has been removed. Projects requesting retroactive labeling of credits will only pay for the respective label fees as applicable.
No, joint projects requesting or validation under multiple standards such as VCS and CCBS will receive an invoice for the same $2,500 VCS project registration request review fee. Joint projects will continue to pay the applicable fees under the other standards, such as the CCB validation fee when the project requests a CCB validation public comment period review.
No, the new fees will apply to all issuance and labeling requests regardless of the vintage year starting on July 1, 2023.
It depends on when the project’s verification is approved for issuance. The old fee schedules will apply if the project is approved, and issuance is requested before July 1, 2023. If issuance is requested after July 1, then the new flat fees will apply.