One of the leading voluntary carbon market standards, Verra, recently announced the launch of its “Project Tracker”, the first component of its digitalization initiative and the first functionality of the new Verra Project Hub. Verra also published an overview of the most recent updates to the Verra Registry. This bulletin briefly summarizes key information on the launch of the Project Tracker and important updates to the Verra Registry:
Project Tracker and Project Hub Launch
Verra’s Project Tracker provides stakeholders with increased information and visualization of project details including the status of each project in a bar diagram. This is intended to enable stakeholders to view project progress from initial listing to registration, validation, and verification. Verra indicated that the Project Tracker is linked to its customer relationship management platform, enabling automatic data synchronization. Verra noted that it intends to expand the Project Hub’s features to (i) facilitate the online submission of new projects for review, (ii) a digital assessment of a project’s non-permanence risk, and (iii) direct interaction with project auditors.
Verra Registry Updates
Announced updates to the Verra Registry include the following:
- New project status added. A new project status, “Pipeline Listing (Under Development) Approved”, has been added to the workflow for projects seeking registration in the Verified Carbon Standard (VCS) Program.
- ERR Calculation Spreadsheet. A new document type specific to emission reductions and removals (ERR), titled “ERR Calculation Spreadsheet,” has been added to the drop-down list of available project document types.
- Locking of Account Setup Fields.The fields in the “My Account Setup” module for all Verra Registry accounts are now locked for editing after Verra has approved the account.
- Locking of Project Setup Fields.Once a submitted project is no longer under the status of “New,” the project’s setup page will be locked for editing. This applies to all Verra projects in any Verra standards program (the VCS Program; the Climate, Community & Biodiversity Standards Program; the Sustainable Development Verified Impact Standard Program; and the Plastic Waste Reduction Program).
- Issued Units Public Report Enhancement. The “Issued Units” report available in the “Public Reports” module on the Verra Registry now allows users to pre-filter data before displaying issuance data by selecting from new fields at the top of the screen.
- Calendar Year Vintages. As of April 1, 2023, each VCS project must include vintages from within a single calendar year on its verification summary page