Verra has published a comprehensive updated Verra Program Fee Schedule (PDF) that lays out the fee structures and details for all its standards programs.
In addition to the Verra Program Fee Schedule, the Registration and Issuance Process (PDF) and the Verra Registry Terms of Use (PDF) have also been updated to reflect changes relevant to this update.
The fee changes will enable Verra to do the following:
- Maintain the operation of high-quality standards programs that are advancing critically needed climate action and sustainable development
- Continue implementing improvements to ensure the quality and rigor of its programs
- Further advance its digitization and digitalization efforts to streamline project review processes for its stakeholders
In parallel, Verra is currently streamlining its rigorous project review processes to add greater efficiency.
The new document also consolidates the fee schedules for all Verra programs for easy access and enhanced consistency. Previously, separate fee schedules existed for the Verified Carbon Standard (VCS) Program, Climate, Community & Biodiversity Standards (CCBS) Program, Sustainable Development Verified Impact Standard (SD VISta) Program, and Plastic Waste Reduction Standard Program.
What Is Changing?
In addition to revisions to existing fees, the new fee schedule includes fees for services that Verra provides but that were not covered in the previous fee structures. It also better aligns the timing of payments with when services are provided and accounts for inflationary adjustments.
With this new fee schedule, Verra is revising its approach to charging for the issuance of Verified Carbon Units (VCUs) to incentivize projects to submit accurate and thoroughly documented verification requests. Going forward, Verra will base levies on the quantity of emission reductions and removals (ERRs) claimed in a project’s monitoring report and not on the number of VCUs Verra ultimately approves for issuance. If the number of ERRs claimed in a project’s monitoring report exceeds the number of VCUs approved by Verra, the project will still be charged based on the number of ERRs claimed.
Payment for VCU issuance levies is still due when a project requests VCU issuance.
Webinar
On Tuesday, November 26, 11:00 am ET, Verra will host a webinar to provide an overview of the new comprehensive Verra Program Fee Schedule.
To Our Stakeholders
Verra is cognizant that the above changes affect those who operate in the environmental and social markets Verra serves.
As a nonprofit standards setter, Verra relies primarily on its fees to cover the costs associated with administering, maintaining, and developing Verra programs. For Verra to carry out this responsibility in a timely and efficient manner, it must implement a fee structure that supports its continued ability to operate high-quality standards programs.
If you have any questions, please contact registry@verra.org.
Fee change details
The new fee schedule includes the following changes:
Fee | Amount | Effective Date |
---|---|---|
Account Opening Fee | $750 | January 1, 2025 |
Annual Account Maintenance Fee, charged annually on the anniversary date of account approval | $750 | January 1, 2025 |
Account Reactivation Fee for account holders that have had their account suspended due to non-payment or other reasons (NEW) | $2,000 | January 1, 2025 |
Fee | Amount | Effective Date |
---|---|---|
Pipeline Listing Request Fee | $1,500 per request | December 1, 2024 |
Registration Review Request Fee | $3,750 per request | December 1, 2024 |
VCU Issuance Levy | $0.23/ERR claimed | January 1, 2025¹ |
Verification Review Fee (NEW) | $5,000 fee, where $2,500 is a prepayment fee which can be used as a credit towards future issuance levies | December 1, 2024 |
Requantification Request Fee for projects seeking to requantify their ERRs under a new methodology for CCP Labels or those wanting to quantify different mitigation outcomes for mixed reductions and removal labels (NEW) | $10,000 per review | October 16, 2024 |
ABACUS Label Request Fee (NEW) | $0.07/VCU labeled | December 1, 2024 |
Mixed Reduction/Removal Label Request Fee (NEW) | $0.07/VCU labeled | December 1, 2024 |
Article 6 Label Request (NEW) | $0.05/VCU labeled | January 1, 2025 |
Registry Transaction Fees for every transfer, retirement, or cancellation (NEW) | $0.02/VCU, paid by the account holder that initiates the transaction | December 1, 2024 |
VCS Program gap analysis fee | No longer in effect | October 16, 2024 |
1Except for the following:
i. Projects that requested verification approval prior to the date of publication the updated fee amount for VCUs from that verification period takes effect 30 days after Verra approves the verification request.
ii. Projects in least developed countries the updated fee amount takes effect July 1, 2025.
Fee | Amount | Effective Date |
---|---|---|
Plastic Credit Issuance Levy | $7/Plastic Credit which will replace the preexisting tiered levy model | January 1, 2025 |
Registration Fee | $2,000 for projects applying one methodology $3,000 for projects applying more than one methodology | January 1, 2025 |
Pipeline Listing Request Fee (NEW) | $1,000 per request | January 1, 2025 |
Verification Request Review Fee (NEW) | $1,250 per request | January 1, 2025 |
Registry Transaction Fees for every retirement or cancellation (NEW) | $0.50/Plastic Credit, paid by the account holder that initiates the transaction | January 1, 2025 |
Plastic Program retroactive label fee | No longer in effect | October 16, 2024 |
Fee | Amount | Effective Date |
---|---|---|
SD VISta Label Fee | $0.07/VCU labeled | December 1, 2024 |
Verification Fee (previously referred to as “project ex-post assessment fee”) | $5,000 fee, where $2,500 is a prepayment fee which can be used as a credit towards future issuance levies | February 1, 2025 |
Project design evaluation fee | No longer in effect | October 16, 2024 |
Fee | Amount | Effective Date |
---|---|---|
Verification Fee | $5,000 fee, where $2,500 is a prepayment fee which can be used as a credit towards future issuance levies | February 1, 2025 |