Verra’s (Verified Carbon Standard) Approach to Third-Party Crypto Instruments and Tokens

Cryptotraders and tech disruption. Also in the carbon credit markets, the moment is a matter of debate. Verra, like Gold Standard, is a traditional certifier for environmental assets, and is also involved in standardization, independent assessments and audits, accounting methodologies and registration. Its "Verified Carbon Standard" seal is a standard for certifying carbon emission reductions. Last Wednesday, July 20, 2022, Verra announced that it will open a public consultation on third-party crypto instruments and tokens in use in the carbon credits market. And at the end of August/2022, it will hold a webinar on this topic. Among others, the public consultation will include the following topics:

• What enabling measures may be implemented to responsibly associate Verra instruments with crypto instruments or tokens;

• What know-your-customer (KYC) checks should be conducted on issuers and/or holders of crypto instruments or tokens;

• How the Verra Registry Terms of Use should be amended; and

• What fees, if any, Verra should charge in relation to crypto instruments and tokens.

Click on the image below - example of a certificate of compensation by the Brazilian startup Moss.Earth and its CEO Luis Adaime - to read the original statement from Verra. And here for the recent positioning, or answer, of KlimaDAO - trader of KLIMA, digital currency backed by carbon credits - in an equally recent post on Linkedin