PUBLIC CONSULTATION INPUT

Carbon Market Watch urges Verra to move away from the 'tonne-for-tonne' offsetting model, particularly for AFOLU projects, due to permanence risks and the potential for corporate greenwashing. The submission recommends adopting a 'contribution model' where finance supports climate action without claiming neutrality. It also calls for greater financial transparency regarding intermediaries, a more accessible and independent grievance mechanism for indigenous peoples and local communities, and the banning of methodologies that support fossil fuel infrastructure.

• The current offsetting model is criticized for enabling corporate greenwashing and potentially reducing overall climate action by allowing polluters to avoid difficult regulations.
• AFOLU (Agriculture, Forestry and Other Land Use) projects, including REDD+, are deemed unsuitable for offsetting because they cannot guarantee carbon permanence over the centuries required to match fossil fuel emissions.
• Verra's use of buffer pools is insufficient to manage reversal risks, as evidenced by California forest fires which depleted 95% of some buffer pool contributions in a few years.
• Carbon Market Watch proposes a 'contribution model' as an alternative to offsetting, where financial contributions support climate action without allowing claims of climate neutrality.
• There is a significant lack of financial transparency in the voluntary carbon market, with 90% of intermediaries in one study failing to disclose exact fees or profit margins.
• Verra's grievance mechanism for stakeholders and indigenous peoples is described as having poor accessibility, lacking transparency, and creating financial deterrents for complainants.
• Certain methodologies should be banned entirely, specifically those that support fossil fuel-powered energy generation or transport infrastructure, to avoid carbon lock-in.
• Cookstove methodologies are highlighted as being extremely prone to over-crediting, with some projects estimated to be 6.3 times over-credited.

APA

Carbon Market Watch (2023). PUBLIC CONSULTATION INPUT. https://carbonmarketwatch.org/wp-content/uploads/2023/04/verra-consultation.pdf

Chicago

Carbon Market Watch. PUBLIC CONSULTATION INPUT. 2023. https://carbonmarketwatch.org/wp-content/uploads/2023/04/verra-consultation.pdf.

Wikipedia

{{cite press release |author=Carbon Market Watch |title=PUBLIC CONSULTATION INPUT |date=April 2023 |url=https://carbonmarketwatch.org/wp-content/uploads/2023/04/verra-consultation.pdf |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@misc{carbonmarketwatch2023public, author = {{Carbon Market Watch}}, title = {{PUBLIC CONSULTATION INPUT}}, publisher = {Carbon Market Watch}, year = {2023}, month = apr, url = {https://carbonmarketwatch.org/wp-content/uploads/2023/04/verra-consultation.pdf}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }