Verra and S&P Global Commodity Insights (S&P) yesterday announced a new partnership that will see Verra overhaul its registry using S&P’s registry-build infrastructure software. The organizations say that the partnership is a major step toward “more scalable, interoperable, and digitally integrated infrastructure” and represents collaboration between the world’s largest standards body for climate action and sustainable development and the world’s largest commodities and benchmark information provider.
The new registry will roll out in two stages, with a foundational phase launching within the next six months and the second phase launching in 2026. It is expected to include:
- Integration, and a two-way data exchange, with the Verra Project Hub, enabling project proponents to prepare project documents and move through the full lifecycle (i.e., registration, monitoring, issuance) with less duplication and greater efficiency;
- Expanded digitization and system connectivity, reducing administrative burden for developers and accelerating verification and credit issuance timelines;
- Transaction-ready application programming interfaces (APIs) that allow for automated transfers and retirements, replacing manual processes and enabling frictionless, high-volume trading across brokers, exchanges, and marketplaces;
- Improved transparency and customizable reporting tools; and
- Foundational infrastructure for future innovations, including expanded Article 6 and CORSIA functionality and integration with various programs, governments, market participants, exchanges, insurers, and financial platforms.
We anticipate that details on timelines, new access procedures, and system improvements will be announced in September.
The Verra-S&P partnership follows the January 28, 2025 announcement that Winrock International’s Environmental Resources Trust (ERT), will use Intercontinental Exchange, Inc.’s (ICE’s) registry technology service, ICE GreenTrace, for its crediting programs: American Carbon Registry (ACR); the Architecture for REDD+ Transactions (ART); and the new sectoral crediting standard in development for the Energy Transition Accelerator (ETA).
For further information or to discuss the contents of this bulletin, please contact Lisa DeMarco at lisa@resilientllp.com or Jonathan McGillivray at jonathan@resilientllp.com.
