Skip to content
Friday, October 23, 2026 · Today’s edition, 6:30 a.m. ETFri, Oct 23 · 6:30 a.m. editionSign inMy Desk 0EditionsSign in

Verra opens its Scope 3 registry with the rulebook unfinished

Verra has opened the supply side of its Scope 3 credit market while the accounting that would make companies buy is still being written.

At a glance

  1. Stefan Jirka, its director for agriculture and supply chain innovation, says the aim is "dozens, if not hundreds" of projects generating millions of the units within roughly three years.
  2. Issuance capacity is arriving before demand does: Verra adapted existing methodologies for agricultural land management and low-carbon concrete production so developers can generate the new units, which means the plumbing on the sell side is largely in place.
  3. The accounting is plural: the Advanced and Indirect Mitigation Platform has published guidelines, the Greenhouse Gas Protocol is still developing its position, and for-profit players such as Athian, which issues EACs for livestock projects, and the registry S3 Markets are building in parallel.

Verra opened applications this week for project developers to issue Scope 3 Units, the environmental attribute certificates companies use to claim emissions savings from supply-chain investments they cannot trace directly to their own suppliers, and the nonprofit expects a first issuance next year. Stefan Jirka, its director for agriculture and supply chain innovation, says the aim is "dozens, if not hundreds" of projects generating millions of the units within roughly three years. Verra, which Trellis calls the world's largest issuer of voluntary carbon market credits, already has more than 2,500 projects issuing credits under its standard.

Issuance capacity is arriving before demand does: Verra adapted existing methodologies for agricultural land management and low-carbon concrete production so developers can generate the new units, which means the plumbing on the sell side is largely in place. Buyers have been the hesitation point, holding off on EACs until standard-setters blessed the approach, and SBTi's June update to its Corporate Net-Zero Standard did that; PepsiCo included EACs in the emissions statement it released last month, but whether others follow quickly is unclear.

The accounting is plural: the Advanced and Indirect Mitigation Platform has published guidelines, the Greenhouse Gas Protocol is still developing its position, and for-profit players such as Athian, which issues EACs for livestock projects, and the registry S3 Markets are building in parallel. A corporate buyer booking a unit against a Scope 3 inventory still has to assemble its own policy from partly finished sources — an odd foundation for a market Verra wants measured in millions of certificates.

Verra is placing a volume bet: that scale and registry incumbency will shape buyer-side rules faster than deferring to whoever publishes first. For a registry with methodologies already written and no appetite for a rival's guidelines becoming the default, that trade is sound, but it front-loads the risk onto the first buyers, who become the test cases for an accounting treatment nobody has finished, and onto the association test itself, which asks only that a purchaser source from suppliers in the region where it invested. That is a far lighter evidentiary standard than chain-of-custody, and it is where verification disputes will land.

Transition finance is building reporting and verification rails ahead of the standards that will govern them. Verra and Gold Standard's joint Article 6.2 bookkeeping arrived in August; September brought Agreena's 4.5-million-tonne soil carbon contract with Kazakhstan, where the credits exist only if the measurement system delivers them. A Scope 3 registry is the same instinct at larger volume, and the test is whether the Greenhouse Gas Protocol's position lands before or after the first units are booked.

InitiativeTypeStatus
Verra Scope 3 Units registryRegistry, nonprofitApplications open; first issuance expected next year
Advanced and Indirect Mitigation PlatformCross-sector initiativeGuidelines released
Greenhouse Gas ProtocolStandard-setterPosition in development
AthianFor-profit issuerIssuing EACs for livestock projects
S3 MarketsFor-profit registryOperating

Reported by the Transition Finance desk from Trellis (GreenBiz). Published . Corrections

Related

Sustainable Investing

SBTi opens FLAG standard rewrite with a 12-month call for evidence

The revision follows June's Corporate Net-Zero Standard V2 and draws on more than 400 companies that have set land-based targets.

Sustainable Investing

Verra launches Scope 3 certification with the buyer rulebook unwritten

Projects can list now, but the reportable unit corporate buyers would pay for arrives only with version 2, leaving validators holding the near-term economics.

Sustainable Investing

Agreena's Kazakhstan soil carbon deal puts verification on the line

The 4.5-million-tonne contract gives agricultural carbon a long-dated market, but the credits exist only if Agreena's measurement system can deliver them.

Sustainable Investing

UK launches £2bn Energy Wealth Fund funded by North Sea tax revenue

The fund sits within the National Wealth Fund and will invest in renewable and low carbon energy infrastructure across the UK.

Sustainable Investing

European Investment Bank commits at least €30bn to climate adaptation by 2030

The 2026–2030 plan doubles the bank's financing pace and includes blended finance and risk-sharing tools to mobilise private capital.

ESG Capital Dailyfrom Private Wealth Daily

Transition funds, stewardship and the rules behind sustainable labels. Weekdays at 7:10 a.m. ET.

Free. Weekday mornings. Unsubscribe from any edition in one click.

From other sections