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A collaborative investigation alleged that Verra, the world’s largest issuer of voluntary carbon credits, had sold credits for forests that were not at risk of destruction, essentially wiping out the value of the credits.
Source: https://techcrunch.com/2023/09/13/treefera-2m-pre-seed-round-carbon-credits/
Break Free From Plastic analyzed publicly available databases of Verra, and shared analysis of the Plastic Credit Exchange marketplace by non-profit investigative journalism organization SourceMaterial.
For plastic cleanups, Verra asks project developers to demonstrate additionality by passing at least one of three tests.
Green Star’s flagship regenerative agriculture program is undergoing listing under the Verra Registry, which should lead to several catalysts throughout this year.
Source: https://theclarion.ca/media-release/star-royalties-reports-q1-2023-financial-results/
In other Verra Mobility news, CEO David Martin Roberts sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, March 2nd.
So, now Verra has disputed all these findings, but we see the problem here, which is this: We consume here in London or New York, and we trust companies to offset there in Madagascar or Cambodia.
Source: https://qz.com/tree-planting-climate-change-1850154587
The Guardian raises important questions, specifically about the effectiveness of rainforest-offset credits provided by Verra.
US Bancorp DE lifted its position in Verra Mobility by 73.6% in the first quarter.
What the Verra scandal illustrated, though, was that while certifications are helpful, companies should probably be performing their own due diligence, much like investors do when deciding where to place their money.
Source: https://techcrunch.com/2023/09/13/treefera-2m-pre-seed-round-carbon-credits/