Verra Rejects 37 Low-Emission Rice Projects After Quality Review

Verra, a U.S.-based carbon standards registry, has disqualified 37 Chinese low-emission rice cultivation projects after a quality control review. The methodology used to calculate emissions reductions was found flawed, leading to 'junk' credits. Verra aims to ensure greater transparency in the voluntary carbon market.

Verra, the U.S.-based registry that sets standards for the voluntary carbon market, recently disqualified 37 low-emission rice cultivation projects in China following a quality control review.

The voluntary carbon market allows companies to buy credits to offset their emissions, but it has faced scrutiny for generating 'junk' credits that enable firms to greenwash. The integrity of these Chinese rice projects was questioned last year, prompting Verra to permanently inactivate the methodology used to calculate these credits.

Verra described the disqualification as an 'unprecedented action,' demanding compensation for the excess credits issued. This move aims to ensure integrity, transparency, and quality in the voluntary carbon market, said Verra's chief programme management officer, Farhan Ahmed.

(With inputs from agencies.)