Verra recently launched the development of a Scope 3 Program to unlock immediate and large-scale investment in supply chain climate action. The new program will contain a number of components, such as:
- A certification framework for Scope 3 interventions that will include:
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- Validated methodologies for quantifying emission reductions and removals (ERRs) resulting from Scope 3 interventions (adapted from existing VCS methodologies);
- Third-party verification of Scope 3 interventions and associated emission data; and
- Issuance of certified Scope 3 intervention units that will likely represent 1tCO2e reduced or removed per amount of impacted product at the level of the intervention. The units will include the verified emission information companies need to account for the ERRs in their Scope 3 inventories.
- A GIS-enabled Scope 3 Registry that links to the VCS Registry and tracks interventions and “right-to-claim” (i.e., a company’s right to report an ERR, based on an assessed supply chain connection to the ERR). This will increase transparency, prevent double counting, reduce free rider risks, and help enable transfers between Verra’s Scope 3 and VCS Programs.
- A framework that allows transfer of emissions claims in the following cases:
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- Transfers through supply chain tiers to facilitate co-investment opportunities;
- Transfers into new supply chains if the supply chain shifts, which reduces the risk of an intervention becoming stranded in an old supply chain; and
- Transfers within shared supply sheds to enable flexibility for co-investment and trading where interventions occur.
The Scope 3 Program is anticipated to launch in 2025.
Get Involved
Stakeholder engagement is critical to ensuring the Scope 3 Program is practical and credible. The Verra Scope 3 Initiative initially explored how Verra’s carbon accounting expertise could support increased climate action through a potential Scope 3 GHG Program, and Verra thanks everyone who made the Scope 3 Initiative a success. The shared experiences, ideas, and perspectives have been instrumental in informing the direction and preliminary design of the Scope 3 Program.
Stakeholders will continue to have several opportunities to engage throughout the development process, including:
- Joining the Scope 3 Program Development Committee. The Committee will influence the strategic direction and technical design of the Scope 3 Program. Up to 15 members will be selected from diverse sectors, geographies, and organization types. Please look out for the Request for Expressions of Interest in the coming weeks.
- Piloting a preliminary version of the Scope 3 Program. Up to 6 six pilot projects will be selected to test a draft version of the Scope 3 Program and one of two initial Scope 3 quantification methodologies. Please look out for a Request for Proposals for pilot projects in early 2024; pilots are anticipated to run throughout 2024.
- Participating in the Scope 3 Program Development Consultative Group. This group will submit written feedback on decision points and proposed rules and requirements, participate in biannual program development update webinars, and join ad hoc workshops on specific themes (based on each stakeholder’s expertise). To express interest in joining the Scope 3 Program Development Consultative Group, please complete this short survey (external).
- Attending biannual webinars. Verra’s Scope 3 Program Development Team will host biannual webinars to present updates and decisions made during the program development process and welcomes stakeholder feedback and input.