Verra Committed to Projects That Avoid Emissions

In a webinar hosted by global law firm White & Case last week, David Antonioli, CEO of Verra, and Mark Carney, former Governor of the Bank of England and current UN Special Envoy for Climate and Finance, discussed how carbon credits can help companies and governments reach ambitious net zero targets.

Some media outlets have referred to David’s statement, “There has to be a transition away from avoidance to removals,” which can be misinterpreted without context.

To clarify: David reiterated the consensus view that by 2050, three decades from now, we should have already reduced emissions dramatically and should no longer be offsetting with credits that represent avoided emissions. David made this clear earlier in the webinar, when he stated, “There’s still a huge role for projects that avoid greenhouse gas emissions, because there are … forests under threat or mangroves under threat.”

Together, these statements underline Verra’s commitment to advancing carbon accounting methodologies that support forest conservation activities. Verra firmly believes that we cannot afford to lose standing forests that sequester carbon from the atmosphere – which, if lost, would lead to runaway greenhouse gas emissions.