Verified Carbon Standard Association

“Updates were made to account for the new position of President that reports to the Board. Changes include appointment and election of the President (Art 6.1c and 8.01). Powers and duties of the President (8.04b, 8.06 and 9.02)”

“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 2023, Verra had approximately 215 volunteers helping to drive impact across Verra's programmatic areas.”

“Plastics Waste Reduction Program: The Plastic Waste Reduction Program (Plastic Program) provides the means for consistent accounting, independent auditing and crediting of new or scaled-up waste collection and recycling projects. Innovations: This program works to develop new methodologies, tools, program updates and other innovations to enable the VCS and other Verra programs to meet emerging needs and opportunities. Most notably, Verra launched a new revolutionary REDD Methodology to support forest conservation projects in November 2023. 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. Project Hub and Tracker: Verra has launched digital platforms and tools to support climate and sustainability projects. 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). The Verra Project Hub also provides the ability to submit non-permanent risk reports digitally and notices of validation and verification services to Verra. Verra also launched the Project Location Review Tool (PLRT) in the Project Hub which allows us to evaluate the boundary overlap issues and proximity to prevent the risk of double counting. We have connected our Registry Data with Climate Action Data Trust through the Project Hub to provide general transparency of our data. These digital tools make our processes smoother, more efficient, and more accessible for users worldwide. Users from 132 countries have accessed the Project Hub since its launch in October 2023.”

“Registry Developers: Program service expenses 1,489,242. Management and general expenses 0. Fundraising expenses 0. Total expenses 1,489,242. Methodology Developers: Program service expenses 128,434. Management and general expenses 0. Fundraising expenses 0. Total expenses 128,434. Other Contractors and Consultants: Program service expenses 5,586,899. Management and general expenses 1,394,649. Fundraising expenses 0. Total expenses 6,981,548.”

“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.”