Verra has launched a new Scope 3 Initiative to better understand how its carbon accounting expertise could support increased climate action through a potential Scope 3 GHG Program.
Formed in May 2022, the initiative encompasses a multi-stakeholder working group, which includes a pilot project group, a broader consultative group, and one-on-one exchanges with stakeholders. It investigates key barriers to implementing and scaling climate action in organizational Scope 3 emissions inventories.
The working group will explore how the Verified Carbon Standard’s (VCS) market reach, carbon crediting methodologies, audit process, and registry could support robust accounting of GHG interventions in corporate Scope 3 inventories, prevent double-counting, and establish flexibility for companies to generate carbon credits or Scope 3 interventions. It will discuss key themes, such as accounting approaches, potential for market mechanisms, ownership, and allocation, assurance, and reporting. The working group will also periodically share progress updates with a broader consultative group with the invitation to provide written feedback. In parallel, the pilot project group will examine approaches and methods being used in ongoing supply chain mitigation projects.
If you have any questions, please contact Jonathon Alcock, Manager, Supply Chain Innovation, (email@example.com).