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require multiple species plantings. Tree planting in high latitude forests may have a net warming effect on the Earth's climate because tree cover absorbs sunlight thus creating a warming effect that balances out their absorption of carbon dioxide. Tree-planting projects can also cause conflicts with
805:
provided by Verra – which accounted for about 40% of all credits it approved – are worthless. They also found that the credit scheme may worsen global heating and that the deforestation threat for Verra projects was overstated by 400% on average. At one of Verra's project sites in Peru, residents
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reported that Verra’s carbon offsetting standard was flawed. Accredited forest protection projects were using inconsistent predictive methods and overstating their emissions reductions. 11 of the 12 projects studied showed no difference in emissions compared to control groups. The study said the
1807:
Fleischman, Forrest; Basant, Shishir; Chhatre, Ashwini; Coleman, Eric A; Fischer, Harry W; Gupta, Divya; Güneralp, Burak; Kashwan, Prakash; Khatri, Dil; Muscarella, Robert; Powers, Jennifer S; Ramprasad, Vijay; Rana, Pushpendra; Solorzano, Claudia
Rodriguez; Veldman, Joseph W (2020-09-16).
170:
Verra was developed in 2005. It is a widely used voluntary carbon standard, which also offers specific methodologies for REDD+ projects. As of 2020, there had been over 1,500 certified VCS projects covering energy, transport, waste, forestry, and other sectors. In 2021, Verra issued 300
838:
Forestry projects have faced increasing criticism over their integrity as offset or credit programs. A number of news stories from 2021 to 2023 criticized nature-based carbon offsets, the REDD+ program, and certification organizations. In one case it was estimated that around 90% of
763:
On
February 15, 2018, the organization that maintains the Verified Carbon Standard changed its name from Verified Carbon Standard (VCS) to Verra. The new name was chosen to suggest "‘verification’ and ‘terra’, and reflects the fundamental nature of our work".
738:(CDM) carbon offset mechanism, but were not eligible. The reasons for being not eligible were due to geographic or timing constraints of the Kyoto rulebook (e.g. carbon offset projects in the USA, Hong Kong, Turkey, etc that were not eligible for the CDM).
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Tree planting projects in particular have been problematic. Critics point to a number of concerns. Trees reach maturity over a course of many decades. It is difficult to guarantee how long the forest will last. It may suffer clearing,
154:: "Investigation into Verra carbon standard finds most are ‘phantom credits’ and may worsen global heating". In May 2023, following months of criticism towards Verra in its handling of carbon-offsetting, CEO David Antonioli resigned.
108:, a 501(c)(3) organization. Verra is a certifier of voluntary carbon offsets. As of 2020 there were over 1,500 certified VCS projects covering energy, transport, waste, forestry, and other sectors. In 2021 Verra issued 300
1559:
706:
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Veldman, Joseph W.; Overbeck, Gerhard E.; Negreiros, Daniel; Mahy, Gregory; Le
Stradic, Soizig; Fernandes, G. Wilson; Durigan, Giselda; Buisson, Elise; Putz, Francis E.; Bond, William J. (2015).
749:. They also provided the initial sponsor capital for these non-profit organizations to subsequently convene a team of global carbon market experts to further draft the VCS requirements. The
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carbon credits. Those were voluntary carbon emissions reductions from greenhouse gas reduction projects that met the quality and verification standards of the UNFCCC Kyoto
Protocol's
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1783:
127:
designed and drafted the first version (version 1.0) of the
Voluntary Carbon Standard. This standard was intended as a quality standard for transacting and developing
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e worth of offset credits for 110 projects. Verra is the program of choice for most of the forest credits in the voluntary market, and almost all REDD+ projects.
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that it was investigating a Verra carbon reduction project where
Indigenous Cambodians lived in fear of homes and farmland being destroyed by armed rangers.
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753:(WBCSD) joined later on. The team later formed the VCS Steering Committee, which worked to draft the second and subsequent versions of the VCS Standard.
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designed and drafted the first version (version 1.0) of the
Voluntary Carbon Standard, intended as a quality standard for transacting and developing
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1437:"Change Climate Season: Leading carbon offsetting certifier investigated in new Channel 4 documentary The Great Climate Scandal | Channel 4"
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In 2008, the Board of
Directors named David Antonioli the organization’s first Chief Executive Officer. In 2009, VCS incorporated in
17:
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local communities and
Indigenous people if the project displaces or otherwise curtails their use of forest resources. For example,
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In May 2023, following months of criticism towards Verra in its handling of carbon-offsetting, CEO David
Antonioli resigned.
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complained about being forcefully evicted from their homes, which were then demolished. The investigation was based on two
1809:
1581:
801:, and SourceMaterial, a non-profit investigative journalism organization, found that approximately 94% of the rainforest
346:
293:
854:. These end up damaging native forests and reducing biodiversity. In response, some certification standards such as the
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120:. Verra is a program of choice for most of the forest credits in the voluntary market, and almost all REDD+ projects.
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146:, and SourceMaterial (a non-profit investigative journalism outlet) found that about 94% of the rainforest
1552:"Revealed: more than 90% of rainforest carbon offsets by biggest certifier are worthless, analysis shows"
1186:"Revealed: more than 90% of rainforest carbon offsets by biggest certifier are worthless, analysis shows"
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In March 2006, Climate Wedge and Cheyne Capital transferred the Voluntary Carbon Standard version 1.0 to
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There are controversies around this standard and how it is implemented. In 2023, an investigation by
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certified by Verra are worthless. The investigation even found that the standard may in fact worsen
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carbon credits. Climate Wedge was at the time active as a carbon markets investment advisory firm.
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1658:"Where Tree Planting and Forest Expansion are Bad for Biodiversity and Ecosystem Services"
8:
1607:"Planting trees "doesn't make any sense" in the fight against climate change say experts"
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worth of offset credits for 110 projects. There are also specific methodologies for
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In 2024, a Channel 4 documentary highlighted these concerns alongside claims from
1222:"CEO of biggest carbon credit certifier to resign after claims offsets worthless"
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1784:""A further act of colonisation": why indigenous peoples fear carbon offsetting"
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Chagas, Thiago; Galt, Hilda; Lee, Donna; Neeff, Till; Streck, Charlotte (2020).
1135:
Chagas, Thiago; Galt, Hilda; Lee, Donna; Neeff, Till; Streck, Charlotte (2020).
1847:"COP26 and a Framework for Future Global Agreements on Carbon Market Integrity"
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In 2005, carbon markets investment advisory firm Climate Wedge and its partner
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1461:"Carbon offsets used by major airlines based on flawed system, warn experts"
1405:"Carbon offsets used by major airlines based on flawed system, warn experts"
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credits of the Verified Carbon Standard are likely to be "phantom credits".
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findings raised doubts about the validity of the carbon offsetting market.
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1517:"Do Airline Climate Offsets Really Work? Here's the Good News, and the Bad"
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Verra was developed in 2005 when the company Climate Wedge and its partner
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1897:"Cambodia: Carbon Offsetting Project Violates Indigenous Group's Rights"
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1759:"Climate change could expand forests. But will they cool the planet?"
1935:
Community guidelines for accessing forestry voluntary carbon markets
1691:
Aguirre-Gutiérrez, Jesús; Stevens, Nicola; Berenguer, Erika (2023).
1273:
900: – Removal of atmospheric carbon dioxide through human activity
1582:"How Do You Guarantee Land-Based Offsets Are Permanent? | Greenbiz"
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scientists and the other from a team of international researchers.
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1693:"Valuing the functionality of tropical ecosystems beyond carbon"
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1249:
1632:"Planting invasive species could make our carbon problem worse"
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965:"Patch | Carbon Offset Verification and Registries, Explained"
165:
Carbon offsets and credits § Verified Carbon Standard by Verra
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1655:
1488:"The Climate Solution Actually Adding Millions of Tons of CO
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Carbon offsets and credits § Concerns with forestry projects
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A nine-month investigation published on January 18, 2023 by
745:, International Emissions Trading Association (IETA) and
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A close look at the quality of REDD+ carbon credits
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A close look at the quality of REDD+ carbon credits
27:
Standard for certifying carbon emissions reductions
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751:World Business Council for Sustainable Development
1735:"Climate, Community & Biodiversity Standards"
1328:: CS1 maint: DOI inactive as of September 2024 (
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1120:: CS1 maint: DOI inactive as of September 2024 (
888: – Partnership in land management activities
1942:
1365:"Verified Carbon Standard Changes Name To Verra"
760:as a non-profit non-governmental organization.
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886:Climate, Community & Biodiversity Alliance
58:A carbon accounting standard and organisation.
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104:to offset emissions. VCS is administered by
1851:The International Journal of Social Quality
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875:ethnic group from their indigenous lands.
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1550:Greenfield, Patrick (18 January 2023).
1282:State and Trends of Carbon Pricing 2022
1074:State and Trends of Carbon Pricing 2022
542:Land use, land-use change, and forestry
14:
1943:
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1486:Temple, L.; Song, J. (29 April 2021).
871:of Cambodia had driven members of the
352:Economics of climate change mitigation
1562:from the original on 14 February 2023
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920:"Regulators Embrace Voluntary Carbon"
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918:Peters-Stanley, Molly (2011-03-15).
347:Economic analysis of climate change
294:World energy supply and consumption
24:
1403:Greenfield, Patrick (2021-05-04).
1220:Greenfield, Patrick (2023-05-23).
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1184:Greenfield, Patrick (2023-01-18).
1012:Greenfield, Patrick (2023-03-10).
372:Environmental full-cost accounting
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1698:Trends in Ecology & Evolution
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158:Usage in voluntary carbon markets
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580:Corporate social responsibility
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1782:Bourke, India (2021-11-18).
1515:Astor, Maggie (2022-05-18).
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1363:Zwick, Steve (2018-02-15).
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810:studies, one by a group of
736:Clean Development Mechanism
615:Sustainability organization
377:Environmental impact design
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1712:10.1016/j.tree.2023.08.012
941:"Verified Carbon Standard"
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397:High-performance buildings
317:Carbon offsets and credits
234:Carbon capture and storage
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1291:10.1596/978-1-4648-1895-0
1083:10.1596/978-1-4648-1895-0
595:Effects of climate change
537:Climate-smart agriculture
487:Sustainability accounting
467:Climate change litigation
211:Co-benefits of mitigation
197:Climate change mitigation
98:Voluntary Carbon Standard
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1352:. Climate Focus. Page 5.
1144:. Climate Focus. Page 5.
585:Corporate sustainability
492:Sustainability reporting
444:Verified Carbon Standard
362:Environmental accounting
216:Greenhouse gas emissions
94:Verified Carbon Standard
31:Verified Carbon Standard
1293:(inactive 2024-09-12).
1085:(inactive 2024-09-18).
922:. Ecosystem Marketplace
812:University of Cambridge
456:Frameworks and treaties
1823:10.1093/biosci/biaa094
898:Carbon dioxide removal
547:Nature-based solutions
522:Carbon dioxide removal
412:Public interest design
382:Fossil fuel divestment
337:Climate risk insurance
264:Low-carbon electricity
249:Fossil fuel divestment
1677:10.1093/biosci/biv118
482:Social responsibility
254:Fossil fuel phase-out
1930:VCS Project Database
1492:Into the Atmosphere"
1285:. World Bank. 2022.
1160:www.climatewedge.com
1077:. World Bank. 2022.
747:World Economic Forum
732:"non-Kyoto" Protocol
527:Carbon sequestration
367:Environmental design
259:Fossil fuel vehicles
129:"non-Kyoto" Protocol
96:(VCS), formerly the
1739:Carbon Offset Guide
1156:"Climate Wedge Ltd"
605:Ethical consumerism
600:Energy conservation
312:Building insulation
32:
1901:Human Rights Watch
1522:The New York Times
1379:"VCS is now Verra"
861:Human Rights Watch
819:Human Rights Watch
625:Consumer behaviour
575:Conscious business
532:Direct air capture
407:Low-carbon economy
284:Sustainable energy
85:https://verra.org/
30:
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1670:(10): 1011–1018.
892:Carbon accounting
841:rainforest offset
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244:Energy transition
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