Report finds auditors approved 94.3 million Verra credits from risky projects
A new report by Carbon Market Watch, 'Verified but not trusted: Do audits ensure carbon credit quality?', concludes that third-party audits fail to guarantee carbon credit quality. The analysis of 15 Verra-registered projects, responsible for 94.3 million retired credits between 2023 and 2026, found all to be 'risky' or 'highly risky' according to major rating agencies. Auditors noted over 450 high-severity issues across 88 audits for these projects but still greenlit them. The report suggests that Verra's audit requirements do not adequately assess project integrity or the quality of climate claims.
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