Verra launches Scope 3 registry for supply chain carbon credits

Verra, a leading issuer of voluntary carbon market credits, has launched its Scope 3 Standard (S3S) Program. This new framework allows companies to quantify, verify, and certify the climate impact of projects within their corporate value chains.

The program introduces Scope 3 Units, also known as environmental attribute certificates (EACs). These units represent one tonne of CO2 reduced or removed and enable companies to claim emissions savings from supply-chain investments, even when a direct connection to the project cannot be demonstrated. Instead, buyers must meet an association test, such as sourcing from the same region as the investment.

Scope 3 emissions typically constitute the majority of a corporation's total carbon footprint but are often difficult to manage due to limited influence over suppliers. The initiative follows an update to the Science Based Targets initiative (SBTi) Corporate Net-Zero Standard in June, which provided the necessary regulatory confidence for companies like PepsiCo to include EACs in their emissions reporting.

Verra plans to issue its first Scope 3 Units next year. The initial version of the program will utilize adapted methodologies covering areas such as low-carbon concrete and improved agricultural land management.