Verra’s Post

Verra Wins Two Environmental Finance Awards Verra is honored to have earned two of the prestigious Environmental Finance awards in 2023: 🏆 Best GHG Crediting Programme for the Verified Carbon Standard (VCS) Program 🏆 Best Registry Provider for the Verra Registry We are grateful to everyone who participated in Environmental Finance’s survey and voted for us. We are humbled and honored to receive these awards which represent a vote of confidence in Verra as a standards setter that can deliver high-integrity carbon credits into the voluntary #carbonmarket. As we move toward a new era of scaling #climateaction, we remain committed to strengthening our operational excellence, enhancing the integrity and impact of our standards programs, and remaining accountable to our key stakeholders. https://bit.ly/3EV942V #standardsmatter #carbonoffsets #sustainabledevelopment

On 30 December, the New York Department of Environmental Conservation (DEC) and New York State Energy Research and Development Authority (NYSERDA) moved to the second stage of pre-proposal outreach to implement its new, economy-wide Cap-and-Invest program in 2025. ClearBlue analysts provided our clients with a timely Live Update overview and a detailed program primer that flagged the key regulatory leanings and how they will affect the market. Key points of note: 👉 Outline indicates initial cap to be set in line with current emissions 👉 No bank carryover from the first compliance period (2025-26) 👉 Price levels TBD for cost containment mechanisms like the Emissions Containment Reserve (ECR) and Cost Containment Reserve (CCR) 👉 No offsets (as anticipated) 👉 Additional stakeholder feedback sought the week of 22 January The ClearBlue Market Analysis team closely follows and reports on market developments using Vantage, our carbon intelligence platform, to give our clients the insight they need to take decisive action in the carbon markets. Reach out today:  https://lnkd.in/gDfUevJG

https://lnkd.in/g37N-tmv PROGRAM RELEASED! At the annual 2024 AEBN National Conference Webinar (scheduled at 10am-4pm on 14 March 2024), you will hear key Regulators, experts and lawyers present on new environmental, climate change and energy reforms and funding available. This will impact on the way industry, business and councils manage their obligations. Please join us! For Details - https://lnkd.in/g37N-tmv or visit www.aebn.com.au Presented by the Australian Environment Business Network (AEBN) www.aebn.com.au #environment #environmental #environmentmanagement #contaminatedland #climatechange #climateaction #climate #waste #wastemanagement #landmanagement #land #landfills #energy #renewables #emissionsreduction #carbonmanagement #carbon

Interesting report from across the pond which has found that The U.S. Environmental Protection Agency’s rules for monitoring and verifying that sequestered carbon dioxide stays underground fail to ensure safe and long-term carbon storage. Lessons to be learned. Whilst we play with these technological solutions that have no guaranteed cost effective guarantee of success, we continue business as usual in the hope that the greenwash will get us through…

Great quick summary from Shilpika (Shilps) Gautam of the latest Science Based Targets initiative development, allowing carbon offsets for scope 3. #womenincarbon #scope3 #sustainability

Yesterday brought a victory for carbon dioxide removals (#CDR) and carbon management in the EU. 🚦 𝐖𝐡𝐚𝐭 happened? 👉🏽 The European Council and Parliament green-lit the EU Carbon Removals Certification Framework (#CRCF) as new EU-wide standards. 🌏 𝐖𝐡𝐲 𝐝𝐨𝐞𝐬 𝐢𝐭 𝐦𝐚𝐭𝐭𝐞𝐫? 👉🏽 Given that carbon removals will play a greater role in the EU #climategoals, clear standards for their measurement are needed. 🌳 𝐖𝐡𝐚𝐭 𝐢𝐬 𝐜𝐨𝐯𝐞𝐫𝐞𝐝? 👉🏽 Activities that permanently remove carbon or store carbon for >35 years and carbon farming that stores carbon or reduces soil emissions for >5 years. Monitoring and liability mechanisms are also included. 📆 𝐖𝐡𝐚𝐭 𝐜𝐨𝐦𝐞𝐬 𝐧𝐞𝐱𝐭? 👉🏽 The agreement must be formally approved by both institutions before the legal text can be formally adopted.

AFF welcomes the release of The Integrity Council for the Voluntary Carbon Market (ICVCM)‘s full assessment framework for its Core Carbon Principles, which will strengthen market transparency and encourage more funding to flow to carbon projects with high climate impact. Want to learn more about what the framework means for the voluntary carbon market? Environmental Markets Manager Calvin Tran breaks it down in his new blog, emphasizing the essential need for a high-integrity and scalable market to meet the urgency of the climate crisis. https://lnkd.in/gtvViCrB #ICVCM #Carbon #CarbonMarkets

The final drop is our final ED1 Environmental Report - the end of an era! Last year saw an extremely positive end to the price control, particularly in our environmental performance. We achieved ISO 14001 for the first time as a business, and are delighted to have achieved our RIIO-ED1 absolute reduction target to reduce greenhouse gas (GHG) emissions by 15%, attaining a 30% reduction in 2022/23 compared to base year levels. We are also proud to have achieved a 45% reduction in fluid filled cable leakage, exceeding the 15% reduction commitment for the RIIO-ED1 period. Read our 2023 Annual Environment Report here. But we cannot stop here… Through our Environmental Action Plan, and existing business-as-usual practices, we have strategies in place to reduce our use of, and holdings of, polluting gas and oils, and are actively working to reduce our emissions in line with our science-based targets including network losses. We were awarded baseline funding to invest in Nature-based Solutions for carbon removal through native ecosystems and were also awarded a Consumer Value Proposition for seagrass planting in our local communities. We can’t wait to continue, and improve on our work in this space to propel continuous improvement in our environmental and sustainability ambitions forward into RIIO-ED2 and beyond.  

The Science Based Targets initiative have signalled a big shift in their stance on allowing companies to use carbon credits to abate their Scope 3 supply chain emissions. In a statement from the SBTI board of trustees, released earlier today 'SBTi recognizes that, when properly supported by policies, standards and procedures based on scientific evidence, the use of environmental attribute certificates for abatement purposes on Scope 3 emissions could function as an additional tool to tackle climate change. Consequently, SBTi has decided to extend their use for the purpose of abatement of Scope 3 related emissions beyond the current limits' In addition, the SBTI has decided not to validate carbon credit quality, instead leaving other industry initiatives to do so. Why is this significant? - Scope 3 emissions are a huge %(can be >90%) of a companies's carbon emissions profile - Today's news could unlock/incentivise a huge boom in demand for carbon credits - The decision to not validate carbon credits could lead to industry initiatives like the The Integrity Council for the Voluntary Carbon Market (ICVCM) becoming the quality benchmark for the market. https://lnkd.in/dGG-u862