Millions Of Worthless/Questionable Credits Later, CEO Of Largest Carbon Offset Company Resigns
The head of the world’s leading carbon credit certifier has announced he will step down as CEO next month. It comes amid concerns that Verra, a Washington-based nonprofit, approved tens of millions of worthless offsets that are used by major companies for climate and biodiversity commitments, according to a joint Guardian investigation earlier this year. In a statement on LinkedIn on Monday, Verra’s CEO, David Antonioli, said he would leave his role after 15 years leading the organisation that dominates the $2bn voluntary carbon market, which has certified more than 1bn credits through its verified carbon standard (VCS).
Antonioli thanked current and former staff, and said he was immensely proud of what Verra had accomplished through the environmental standards it operates. He did not give a reason for his departure and said he would be taking a break once he left the role. Judith Simon, Verra’s recently appointed president, will serve as interim CEO following Antonioli’s departure on 16 June. “The trust you placed in Verra and myself in my role as CEO has meant a lot, and I leave knowing we have made tremendous strides together in addressing some of the world’s most vexing environmental and social problems. Working with you on these important issues has been a great highlight of my career,” he said.
The announcement follows a difficult period for Verra, which has seen the environmental integrity of their carbon standard satirised by the comedian John Oliver and journalistic exposés about the integrity of their carbon credit certification process.
In January, a nine-month investigation by the Guardian, the German weekly Die Zeit and the investigative group SourceMaterial found Verra rainforest credits used by Disney, Shell, Gucci and other big corporations were largely worthless, often based on stopping the destruction of rainforests that were not threatened, according to independent studies. It also found evidence of forced evictions at a flagship scheme co-operated by Conservation International in Peru.
EDIT
https://www.theguardian.com/environment/2023/may/23/ceo-of-worlds-biggest-carbon-credit-provider-says-he-is-resigning
