Update: The consultation is now scheduled to be released in Q4 2023.
Verra, the world’s leading standard-setter for climate action and sustainable development, is currently developing claims guidance for buyers and users of carbon credits issued by Verra (Verified Carbon Units or VCUs). Verra intends to release the draft guidance for public consultation by the end of July 2023.
The guidance will include an endorsement of the mitigation hierarchy and provide recommendations on the credible use of VCUs and associated claims. It will cover both contribution claims (i.e., claims about contributions to a company’s climate goals and global efforts to mitigate climate change through the purchase of VCUs) as well as compensation claims (i.e., claims about achieving within-value chain emissions reduction targets).
Verra strongly supports the Voluntary Carbon Markets Integrity Initiative (VCMI) Claims Code of Practice launched earlier this week (see Verra’s statement here). This additional effort is intended to provide guidance for buyers and users of VCUs, serving as a bridge to that critical market-wide initiative as it comes into effect.
If you have any questions, please contact info@verra.org