CMW commissioned research to analyse the rigour of Verra’s methodologies for the retirement of coal-fired power plants. In Carbon Market Watch’s view, the results of this research demonstrate weaknesses in Verra’s coal crediting methodology that could seriously undermine its ability to deliver credible, additional, and environmentally sound carbon credits.
Allowing coal-fired power plants to generate carbon credits as a way of financing their early retirement sounds better in theory than it would work in practice if the proposed methodology from Verra were to be implemented. Verra must go back to the drawing board and policymakers must seek out better solutions for moving beyond coal. …
Read more “Can carbon credits wean the power sector off coal dependency?”
Third-party auditors are meant to safeguard and underwrite the quality of carbon markets, yet the intrinsic conflict of interest with which they grapple undermines their role as independent verifiers. This was the conclusion of a new study.
Carbon Market Watch filed this complaint with the Integrity Council for Voluntary Carbon Market (ICVCM) to flag that Verra’s “review” of Human Rights Watch’s grievance related to Cambodia’s Southern Cardamom REDD+ project does not comply with the ICVCM Assessment Framework provisions on grievance mechanisms.
The report is focused on the four crediting methodologies that have generated almost all REDD+ carbon credits to date, all under Verra, the largest voluntary carbon market registry, and concludes that REDD+ is ill-suited to carbon crediting.
A letter sent from Carbon Market Watch detailing a formal complaint related to the registration of – and issuance to – REDD+ projects under the VCS.
Kanaka Management Services Private Limited, a project developer, has proposed a Verra Verified Carbon Standard (VCS) project entitled ‘REDD+ Project in Oro Province of Papua New Guinea‘. If approved, this proposed project would be the second largest Verra VCS project, generating 8.1 million credits annually for 100 years. The proposed project was open for public …
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