WASHINGTON – Nov. 3, 2026 | Verra’s methodology for the early retirement of coal-fired power plants is the first energy transition methodology to receive approval from the Integrity Council for the Voluntary Carbon Market (ICVCM) as meeting the Core Carbon Principles (CCPs).

This means that means transition credits issued under Verified Carbon Standard (VCS) Program methodology VM0052 Accelerated Retirement of Coal-fired Power Plants Using a Just Transition, v1.1 can now carry the CCP label: the highest benchmark for quality in the carbon markets.

Verra developed VM0052 to tackle one of the hardest problems in climate action: how to close coal plants early in countries where energy security, jobs, and public finances depend on them. The methodology enables projects to generate transition credits, a new category of credits for the emissions avoided when coal-fired power plants close early and are replaced with clean energy facilities. It also requires every project to have a just transition plan for affected workers and communities.

“Coal remains the single largest source of energy-related emissions, and many coal-fired power plants in emerging economies are less than 15 years old, with decades of operating life ahead. Retiring them early is difficult given the remaining life, but it is also one of the largest emission reduction opportunities available. It requires finance that can compensate for lost revenue, fund replacement clean power, and protect the people whose livelihoods depend on the plants. With the ICVCM’s approval, project developers, investors, and buyers will have Verra-issued transition credits that meet the market's highest integrity benchmark and that can generate this finance.”

Mandy Rambharos, CEO, Verra

VM0052 operates under Verra’s market-leading VCS Program and works alongside two Verra modules:

  1. VMD0060 Combined Baseline and Additionality Assessment for Accelerated Retirement of Coal-fired Power Plants sets the criteria for determining a plant’s baseline scenario and baseline retirement date, and for demonstrating that the early retirement is additional.
  2. VMD0061 Just Transition Requirements for Accelerated Retirement of Coal-fired Power Plants requires every project to have a comprehensive just transition plan and to implement it. The plan mitigates the negative impacts of early retirement, such as lost livelihoods for workers, their households, contractors, and communities.
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Contact:

Media Inquiries: Erdem Koch | media@verra.org

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About Verra

Verra is a global leader helping to tackle the world’s most intractable environmental and social challenges. As a mission-driven nonprofit organization, Verra is committed to helping reduce greenhouse gas emissions, improve livelihoods, and protect natural resources by working with the private and public sectors. We support climate action and sustainable development with standards programs and tools that credibly, transparently, and robustly assess environmental and social impacts and enable funding for sustaining and scaling up projects that verifiably deliver these benefits.

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