In the first of a two-part series, Mandy Rambharos reflects on her first four months as CEO of Verra.
After COP29 last month, my Verra colleagues and I left Baku feeling an overwhelming sense of humility, coupled with a deep sense of urgency for action.
We were humbled by the countless project proponents, policymakers, and industry leaders who approached us, united by a shared determination to drive meaningful climate action.
Their interest and engagement underscored the importance of the voluntary carbon market (VCM) and the role Verra plays in shaping its future, and the need for us to work in concert to drive tangible action.
Of course, not all conversations were easy. Some stakeholders were candid in voicing their criticisms of Verra.
Journalists pressed us on the effectiveness of carbon credits and the recent critiques surrounding the VCM. Project proponents called for faster project reviews, while government stakeholders called for support on the regulatory front and urged swift progress on implementing longer-term initiatives.
These conversations underscored a truth we’ve long understood at Verra: credibility, trust, and impact are earned through honest, constructive engagement that leads to continuous improvement.
As I said in multiple panels and discussions in Baku, when we know better, we must do better.
At Verra, we recognize the challenges we must meet head-on, and I’m proud of the steps we’ve already taken to address these concerns.
Criticism can either lead to stagnation or serve as a catalyst for transformation. We have chosen the latter.
The stakes are simply too high for anything less.
Enhancing transparency and accessibility
Trust is the foundation of any successful market, and trust grows when stakeholders are empowered with clear, actionable information. This understanding has driven Verra to enhance its transparency and accessibility.
This month, we have established a dedicated stakeholder support function that operates separately from our project review team. This distinction enables Verra to address queries promptly and thoroughly without impeding the integrity and pace of project reviews. The result is a streamlined experience for stakeholders, reinforcing our commitment to accessibility, responsiveness, and proactive engagement.
Additionally, the Verra Project Hub exemplifies our commitment to transparency. This digital platform offers stakeholders real-time access to project statuses, credit issuances, and comprehensive project data. Since its launch in 2023, we have regularly added new tools and features to enhance the user experience.
By simplifying interactions and improving visibility, we are ensuring that every participant in the VCM feels informed and confident about their engagement with Verra.
Digital has to be the future
In a world where urgency defines the climate crisis, operational efficiency is not optional: it is essential.
We are transforming our processes to ensure they are faster, smarter, and more effective while maintaining the rigor that defines our work.
Our digital transformation has played a crucial role in this evolution. Through digital monitoring, reporting, and verification (DMRV) tools, we have revolutionized how projects are reviewed, validated, and tracked.
These tools allow for more frequent and accurate monitoring of project impacts, expedited timelines, and improved quality of data used to issue credits.
Our digital transformation is an ongoing journey, with even more innovative tools and systems on the horizon.
New ways to take giant leaps
Every carbon credit we issue is backed by scientific rigor and accountability.
To address concerns about inconsistency in review processes, Verra has implemented a risk-based approach (RBA) to project reviews.
This targeted approach ensures that high-risk and high-impact projects receive the scrutiny they deserve, optimizing our resources while reinforcing the integrity of our processes.
A renewed sense of purpose
The conversations we had at COP29 made one thing clear: the carbon market is indispensable, but it must continually evolve to meet the needs of a changing world.
While no system is perfect, Verra’s commitment to continuous improvement ensures that we remain at the forefront of advancing climate solutions.
The VCM is an essential tool in the fight against climate change, and at Verra, we are determined to make it stronger, more resilient, and more impactful than ever before.
As we move forward, we do so with the same humility we felt leaving Baku, and with a renewed sense of purpose to meet the challenges ahead.
In the second installment of this two-part series, Mandy Rambharos will share her vision for Verra and the VCM in 2025 and beyond.