17 October 2024
WASHINGTON — Today Verra, the nonprofit that serves as the leading standards setter for the voluntary carbon market, announced its completion of the quality control reviews of 22 of the 26* cookstove projects that were developed by C-Quest Capital (CQC Impact Investors LLC or one of its affiliates, collectively “CQC”) as well as the compensation requirements for the Verified Carbon Units (VCUs) issued by these projects. Verra had launched these reviews on June 27, 2024.
Verra has determined that a total of 5,004,915 VCUs were issued by these projects in excess of the correct amounts.
Verra has also determined that CQC must compensate for these excess issuances. Accordingly, CQC has requested, and Verra has processed, the cancellation of 5,004,915 VCUs.
A project-by-project breakdown is available in the table below, with four projects still under review. The other 22 projects have all been taken off hold on the Registry.
Review Results of C-Quest Cookstove Projects
*Verra’s original announcement stated that 27 projects were under review. However, upon commencingour investigation, we found that one project was not yet registered. ...
Read the full news release here
