Verra is proposing to introduce tonne-year accounting, a method whereby it would issue credits representing the permanent storage of 1tCO2 to projects that store carbon temporarily. Each tonne sequestered for one year would be worth one “tonne-year” and one hundred tonne years
would make up one carbon credit. For example, storing 1 tonne for 100 years would create a carbon credit, but so would storing 100 tonnes for 1 year, or 10 tonnes for 10 years.
We call on Verra to refrain from adopting the tonne-year accounting method, as it would further weaken the credibility and the environmental integrity of the Verified Carbon Standard.