Verra

“Verra contracts with Globalization Partners and Atlas Technology Solutions Inc as their employers of record (EORs) for international employees. These EORs serve as the employers of record for tax, benefits, and insurance purposes for Verra's international employees. In addition to the 109 U.S. employees reported on the 2024 Form W-3, 122 international employees were employed by Verra under the global EOR arrangements in 2024. All international employees required to be listed in Part VII, Section A have been included. A total of 45 international employees are included in the Part VII, Section A, Line 2 count.”

“Form 990 is prepared by an outside CPA firm, which is reviewed in detail by CEO. Then a copy of Form 990 is electronically provided to the entire Board prior to signing and filing with the IRS.”

“The Board acknowledges the conflict of interest policy at its annual meeting. All employees sign a conflict of interest form annually.”

“The salary and bonus for the CEO is determined by the Board. The general frame for other officers or key employee salary adjustments, bonuses and any changes in fringe benefits are decided by the Board upon proposals by the CEO. The CEO is responsible for final decisions regarding all individual salary levels, salary adjustments and bonus allocations.”

“The Organization's governing documents and financial statements are available to the public upon request.”

“Verra utilized a number of advisory or working groups and committees to provide strategic resources to support the development and continuous development of its standards programs. These groups are comprised largely of volunteers that are experts and key stakeholders in their field from foundations, non-profits, corporate organizations, educational institutions, governmental and multilateral organizations and Verra's board of directors. In 2024, Verra had approximately 207 volunteers helping to drive impact across Verra's programmatic areas.”

“In the Verified Carbon Standard (VCS) Program, Verra launched the following new methodologies in 2024: VCS Methodology VM0049 Carbon Capture and Storage: VM0049 is a globally applicable framework for technology-based carbon capture and storage (CCS) activities that generate carbon dioxide removals (CDRs) and emission reductions. CDRs are considered a critical element of corporate net zero climate strategies. VCS Methodology VM0050 Energy Efficiency and Fuel-Switch Measures in Cookstoves, v1.0. VM0050 is a comprehensive and robust new methodology that provides a high-integrity approach to quantifying emission reductions from energy efficiency and fuel-switch measures (i.e., involving the replacement of fossil fuels and non-renewable biomass) in cookstoves. In 2024, the VCS Program and two VCS methodologies were approved by the Integrity Council for the Voluntary Carbon Market (ICVCM) as meeting the Core Carbon Principles (CCP) criteria. The methodologies include VCS Methodology VM0048 Reducing Emissions from Deforestation and Forest Degradation, v1.0 and VCS Methodology VM0047 Afforestation, Reforestation, and Revegetation, v1.0. These approvals reinforce that the program and the approved methodologies reflect scientific rigor, transparency, and credibility, and deliver real, measurable, and verifiable emissions reductions.”

“SD VISta Program: The Sustainable Development Verified Impact Standard (SD VISta) is a framework for assessing and reporting on the sustainable development benefits of project-based activities. It helps unlock new sources of finance to support and scale up high-impact efforts that help advance the United Nations' Sustainable Development Goals (SDGs). In 2024, Verra launched the Nature Framework, a new methodology in the SD VISta Program that enables projects to quantify biodiversity outcomes and generate Nature Credits. The framework will incentivize widespread investment in measurable conservation and restoration activities benefiting nature and people. Scope 3 Standard Program: In 2024, Verra advanced work to develop a Scope 3 Standard Program which will help companies address their Scope 3 emissions which often represent the majority of a company's emissions abatement targets and are therefore critical to reduce. The program is well-suited to drive investment and scale up in-value-chain climate action. Program Development and Innovation: Verra continuously improves its organizational infrastructure and systems that underpin the operation of all its programs. This enables Verra to meet the needs and scale up the opportunities of the markets in which they operate. - Publication of new fee schedule: Verra launched a comprehensive updated fee schedule that lays out the fee structures and details for all its standards programs. The fee changes will enable Verra to do the following: (1) maintain the operation of high-quality standards programs that are advancing critically needed climate action and sustainable development; (2) continue implementing improvements to ensure the quality and rigor of its programs; (3) further advance its digitization and digitalization efforts to streamline project review processes for its stakeholders. - Improved project review processes and client relations: Verra also took steps to strengthen its project review processes and enhance client relations by (1) publishing the average processing times for various types of project review requests to increase transparency around the project review process; (2) finalizing target service-level agreements that set clear goals and performance benchmarks for the project review processing times; and (3) introducing a new risk-based approach (RBA) to conducting project review processes to improve the efficiency of project reviews without compromising quality and integrity. - Performance Monitoring Program for Auditors: Verra also launched a Performance Monitoring Program (PMP) for its validation/verification bodies (VVBs), the third-party, independent auditors that validate the projects Verra certifies and verify the credits Verra issues. These auditors are a critical part of Verra's robust certification system. The PMP enables Verra to monitor and strengthen VVB performance across all Verra standards programs and ensure they execute their auditing services in compliance with Verra's program rules and requirements. - Advisory Groups and Committees: Verra convenes a number of advisory or working groups and multi-stakeholder committees that provide strategic resources to support the development of its standards programs. In 2024, Verra utilized 207 volunteers globally to do this work. - Digitalization Initiatives: Verra significantly advanced its multiyear digitalization initiative in 2024. Verra's digital platforms and tools make our processes smoother, more efficient, and more accessible for users worldwide, providing enhanced support for climate and sustainability projects. Instructions and demo videos for various tools have been created and published for wider distribution. - Initiatives included: 1) The Project Tracker provides stakeholders with projects listed on the Verra Registry with more visibility into the project review process status, timeline, and service legal agreements (SLA). 2) The Verra Project Hub also provides the ability to submit non-permanen”

“Registry Developers, Contractors, Consultants and other professional fees: Program service expenses 8,792,890. Management and general expenses 769,695. Fundraising expenses 168. Total expenses 9,562,753.”

“The Organization's Audit & Finance Committee is responsible for the oversight of the audit. The Audit & Finance Committee recommends an independent accountant to conduct the audit and the Board approves. The process is consistent with previous years.”