Latest news with #Verra
Scoop
28-06-2025
- Business
- Scoop
New Analysis Reveals How Unsuccessful The 'VCM 2.0' Reform Is To-Date
Boston, Massachusetts, 24 June 2025 – Today new research released by Corporate Accountability provides a deep dive into the largest carbon offset projects in the voluntary carbon market (VCM) in 2024, and explores how successful the 'VCM 2.0' reform is to-date at improving the integrity of the voluntary carbon market, as well as whether it is any more likely to reduce global emissions. A carbon offset is an 'allowance' that governments, institutions, and corporations—from fossil fuel majors and airlines to fast-food and tech giants—purchase from environmental projects to supposedly count towards their respective greenhouse gas emissions reductions. Millions of these offset credits, which are linked up through a global carbon market called the VCM, are purchased by these actors annually and counted towards their emissions reductions, often in lieu of other emissions-reducing activities. Despite decades of failing to lead to global emissions reductions, the VCM remains one of the most widely supported forms of climate action, promoted by world governments, industry actors, corporations, and policymakers alike. The analysis underscores the inherently problematic nature of increasing corporate and governmental investment in a scheme that remains fundamentally flawed and which is likely to continue to fail to reduce carbon emissions, all while distracting from meaningful climate action and even likely causing harm. The researchers conducted analysis of data on AlliedOffsets database as well as from industry ratings agencies like BeZero, and revealed that many of the world's largest offset projects in 2024 are unlikely to deliver global emissions reductions. Key findings include: More than 47.7 million problematic offsets credits were retired through 43 of the world's largest offset projects in 2024, meaning they are not likely to lead to the promised emissions reductions. These 43 projects alone account for nearly one-quarter of the VCM. Eighty percent of the offsets assessed in this analysis were problematic. Nearly all (or 93%) of the projects retiring problematic credits are located in the Global South, countries that have historically contributed the least to climate change. This includes five projects that are in Brazil, the upcoming host of the U.N climate talks later this year. Verra hosts the largest number of problematic projects and retired 43.6 million problematic offsets through the assessed projects, suggesting that its updated methodologies and measures taken to assure investors may not rectify the flaws. Yet the approval and promotion of problematic offsets unlikely to lead to emissions reductions spreads much further than Verra. Three other registries were involved in retiring problematic offsets from these projects, and at least 17 verifiers were involved in approving these problematic offsets for VCM trading, to then be purchased by VCM buyers all around the world. Forestry and land use projects had the largest number of problematic projects (23), followed by renewable energy projects (15), household devise projects (4), and chemical processes/industrial manufacturing projects (1). All 37 projects assessed in greater detail had a legitimate risk of having at least one fundamental failing that rendered the projects unlikely to deliver—totaling nearly 40 million credits. These projects either had a legitimate or high risk of non-additionality (23), non-permanence (14), leakage (17), or over-credited (19). The research suggests that despite ongoing reforms, the VCM 2.0 continues to largely fail, enhancing the likelihood of global climate action failure. Any advances through this reform appear to be limited in scope and potential, posing the question of why VCM supporters and investors continue to take on the liability of such great risk, and who is liable for these failures. 'This research serves as an eleventh-hour warning for supporters and investors of carbon offsets and the carbon market,' said Meena Raman, Head of Programs at Third World Network. 'The implications are clear—it's time to shift away from carbon markets, which have failed to deliver emissions reductions for decades, and reinvest into proven solutions that permanently reduce emissions at source and justly address the root causes of climate change. These problematic offsets have no role in the climate action plans of countries or corporations. These pollution allowances have commodified the climate crisis and erased real action. As a result of these sham approaches, millions of lives are now being traded so polluters can profit.' The voluntary carbon market (VCM) has come under increased scrutiny thanks to multiple investigations by experts around the world revealing how these carbon trading schemes appear to give corporations cover to continue polluting while not actually reducing emissions, and even likely spurring significant harm. In 2023, a joint Guardian and Corporate Accountability investigation poked significant holes in carbon trading schemes seen to give permission to countries and corporations to continue burning fossil fuels. According to Rachel Rose Jackson, Director of Climate Research & Policy at Corporate Accountability, 'The latest evidence calls on policymakers as well as investors and supporters of carbon offsets to reckon with why such liability is being taken to continue to worship the voluntary carbon market, and for what real purpose—if it is not likely to lead to emissions reductions? Who is responsible for the repeated failures of the 'checks and balances' that are supposedly plugging the holes of this sinking ship? And why are we trying to solve a global crisis with a scheme that is yet again condemning the planet, not catalyzing the meaningful action urgently needed?' The failures of the VCM are likely much more vast than this research reveals, given that this research only provides one snapshot of problematic projects and fundamental failures that are likely to be more prevalent across the VCM as a whole. This suggests that critical reflections need to happen on the legitimacy of the VCM more broadly. 'The problem isn't just one bad actor; it's baked into the system even among those considered most reputable. And it is not limited to merely one actor or verifier in the carbon market ecosystem,' said Erika Lennon, Senior Attorney, Climate and Energy Program at Center for International Environmental Law. 'With mounting evidence, it's past time for major emitters to stop outsourcing their responsibility to the Global South and commit to a full fossil fuel phaseout – full stop, no loopholes. Clinging to carbon markets not only delays climate progress but also increases legal risks for companies betting on the credibility of these schemes instead of reducing their own emissions. Relying on and promoting offsets to address the climate crisis puts the planet's and all its inhabitants' future at risk and is as smart as relying on the arsonist to fight the fire.'
7NEWS
29-05-2025
- Entertainment
- 7NEWS
Mary-Kate Olsen was just spotted wearing these best-selling Teva sandals
Fashion icon Mary-Kate Olsen was recently spotted in New York wearing a pair of strappy sandals. The pair in question? Teva's Voya Infinity, a classic black sandal that is just as comfy as it is stylish. Retailing for just $72.90 at Amazon Australia, they are a total steal for a celeb-approved shoe. Mary-Kate paired the strappy silhouette with an off-duty outfit in straight-leg pants and an oversized zip hoodie. The Voya Infinity is a gladiator sandal, which features a strappy design, adjustable bungee cords and a molded EVA midsole. Perfect for long days on your feet, these stylish sandals are incredibly lightweight and can be easily packed into a suitcase (hello Euro summer). Teva Sandals are a go-to-shoe for many shoppers across the globe. Comfortable, durable and easy-to-wear, the simple yet stylish designs have grown e The brand which has been around since 1984, is known for its high-quality footwear that's ideal for outdoor enthusiasts who love comfortable shoes. Amazon Australia is currently hosting an epic sale on a wide range popular Teva Sandals, offering up to 50 per cent off sought-after styles for men and women. From classic styles to platform options, each pair is designed to provide support and comfort for all-day wear. These sandals are ideal for hiking, beach outings, or casual city strolls. The Amazon Australia sale also includes popular models like the Women's Original Universal, offering a timeless design with adjustable straps for a personalized fit. The Men's Hurricane XLT2 combines durability with a sleek design, perfect for both outdoor adventures and everyday wear. Additionally, the Women's Verra provides a lightweight option without compromising on support. With prices starting at under $60 for select models, this sale makes it easier than ever to own a pair of Teva sandals. Whether you're gearing up for an outdoor adventure or seeking comfortable footwear for daily use, Teva's range on Amazon Australia has something to offer. Don't miss out on this opportunity to invest in quality footwear at a fraction of the cost. Top picks on sale We've compiled a list below of some of the most popular styles that are currently marked down to help you shop smarter. Teva Women's Original Universal Sandals, was $120 now $99 Teva Sandals, was $150 now $105.09 Teva Men's Hurricane XLT2 Outdoor Sandal, was $150 now $107.94 Teva Men's Original Sandals, was $120 now $79 Teva Men's Hurricane Drift Outdoor Sandal, was $90 now $64
Business Wire
27-05-2025
- Business
- Business Wire
Perennial and rTek Launch Strategic 10-Year Exclusive MMRV Partnership to Regenerate Globally Degraded Grasslands
BOULDER, Colo. & ALMATY, Kazakhstan--(BUSINESS WIRE)--rTek, an Almaty-based precision agriculture start up and nature-based solutions (NbS) carbon credits project developer, has selected Perennial, a global leader in measurement, monitoring, reporting, and verification (MMRV) for environmental assets, as its exclusive soil carbon MMRV provider for the next 10 years to deliver high-integrity carbon credits globally. The first project aims to regenerate 500,000 hectares of degraded grasslands, support sustainable production and livelihoods, and establish quality assurance systems for sustainable grassland management in Kazakhstan. This collaboration aims to regenerate Kazakhstan's soils through sustainable agricultural land management, positioning Kazakhstan as a frontier market in global carbon finance. The partnership will leverage Perennial's expertise with Verra methodologies and core innovative technology - digital soil mapping (DSM) and advanced soil organic carbon (SOC) modeling - with rTek's local expertise in land management, design, and implementation of carbon projects. 'Kazakh farmers and government are excited yet skeptical about soil carbon credits. Now's the time to roll up our sleeves and show how real carbon market funding can kickstart regenerative agriculture. Perennial's super-accurate models, backed by our solid field data, are key to opening up these markets for Kazakhstan's 184 million hectares of rangeland. This partnership sends a strong message to the market: NbS is open for business in Kazakhstan.' — Stuart Bowlin, Managing Partner of rTek Supported by the Food and Agriculture Organization of the United Nations (FAO) with funding from the Global Environment Facility (GEF), this initiative falls under the Kazakhstan Resilient Agroforestry and Rangeland Project, which promotes sustainable pasture management. The activity 'Support for Access to International Carbon Markets,' aims to demonstrate how carbon trade can serve as a catalyst for attracting private investments. By doing so, it seeks to enhance sustainable pastureland management, develop critical infrastructure, and facilitate access to international carbon markets for long-term financial sustainability. Set to begin baseline modeling in 2025, this initiative will implement advanced MMRV methodologies compliant with Verra's VM0032 standards, enabling accurate soil carbon credit generation and enhancing rTek's capacity to manage and expand grassland restoration. 'There's more carbon stored in soil than in the atmosphere and all vegetation combined—yet we've only just begun to tap into soil's potential as a climate solution. Grasslands, in particular, hold extraordinary promise. They cover nearly half the Earth's land surface and are often overlooked in climate plans, but their ability to store carbon and support rural livelihoods makes them one of our greatest opportunities for impact. With the right financial mechanisms and investment, we can reverse degradation and unlock natural carbon sinks at scale.' — Jack Roswell, CEO of Perennial The rTek–Perennial partnership is a first of its kind 10-year partnership between a Carbon Project Developer and an independent MMRV to tackle regenerating soils at large scale and marks a key milestone in advancing scalable, transparent NbS in emerging markets. Join rTek and Perennial in transforming 500,000+ hectares of Kazakhstan's long-degraded grasslands into a global example for sustainable agriculture and carbon sequestration. We invite investors and carbon credit buyers to partner with us to finance or offtake the highest possible integrity NbS removals carbon credits, driving scalable impact for climate, livelihoods, and NbS. About Perennial Perennial is a full-service MMRV (measurement, monitoring, reporting, and verification) company that delivers certified, outcome-based measurements for any crop and any program—anywhere in the world. Its advanced digital soil mapping technology drastically reduces sampling needs and eliminates geographical limitations, making it the most cost-effective, streamlined, and scalable way to measure, report, and verify emissions reductions, carbon removal, and sustainable outcomes. Based in Boulder, CO, Perennial has raised $25M+ from leaders in climate, tech, ag, and carbon markets; GenZero, Bloomberg LP, Microsoft Climate Innovation Fund, SineWave Ventures, and Augment Ventures. About rTek Founded in 2002 in Almaty, rTek is a leading Kazakhstan-based developer of carbon credits and nature-based solutions (NbS), with projects including KazBeef's sustainable grassland management, Kazakhstan's first biochar project, and Kazakhstan's first Article 6.2 project. Through its Terratune cloud platform built on Google Earth Engine, and innovative AgTech - including UAVs and AI-powered livestock monitoring, rTek delivers actionable insights to farmers, driving profitable and environmentally sound land management. Learn more at and
Time of India
21-05-2025
- Business
- Time of India
Panasonic Energy India posts 14.35% rise in FY25 PBT at ₹176.95 million
New Delhi: Panasonic Energy India Co. Ltd. reported a 14.35 per cent year-on-year rise in profit before tax (PBT) at ₹176.95 million for the financial year ended March 31, 2025. EBITDA increased by 14.96 per cent to ₹220.72 million, compared to ₹192 million in FY24. Profit after tax for FY25 stood at ₹117.73 million, marginally up from ₹116.43 million in the previous year. Earnings per share (EPS) rose to ₹15.70 from ₹15.52. The company's market capitalisation stood at ₹2,586.75 million. Revenue from operations declined by 8.21 per cent to ₹2,684.15 million, down from ₹2,924.21 million in FY24. The company attributed the revenue dip to an exceptional B2B order in the previous year. Adjusted for this, the core business posted a growth of 3 per cent. 'We see India as an opportunity and have been regularly exploring prospective investments to expand our operations and product portfolio. We are pleased with our continued growth trajectory in FY24-25, particularly the significant growth in profitability metrics,' said Akinori Isomura, Chairman and Managing Director, Panasonic Energy India Co. Ltd. 'We are pursuing a three-pillar strategy to drive future growth, focusing on stabilizing strategic investment in Salesforce automation, expanding product portfolio aligned with customer demand while expanding distribution through all the channels including quick-commerce platforms, and increasing investment in brand-building campaigns,' he added. The company operates a carbon-neutral factory in Pithampur, Madhya Pradesh, which is certified by Verra and the International REC Standard. The plant generates 150 KV from solar panels, meeting 30 per cent of its energy needs, and maintains zero wastewater discharge. Half of the plant area is under forest cover. Panasonic Energy India's product mix includes 87 per cent zinc carbon batteries, 5 per cent alkaline batteries, 5 per cent rechargeable batteries, and 3 per cent lithium coin batteries. The company uses approximately 6 per cent recycled materials in its products and complies with RoHS Directives (EU) 2015/863.
Business Times
06-05-2025
- Business
- Business Times
Tencent, Temasek-backed GenZero tie up to cut one million tonnes or more of greenhouse gases via carbon credits deal
[SINGAPORE] Tech giant Tencent will have the opportunity to offtake at least one million carbon credits from GenZero's investment portfolio over 15 years under a partnership with the Temasek-backed investment platform. This will represent an estimated abatement of at least one million tonnes of greenhouse gases, said both companies in a joint statement on Tuesday (May 6). The partnership was structured to mobilise capital towards high-integrity climate solutions, enhance market transparency and strengthen trust in global carbon credit systems, it added. Tencent and GenZero said they will prioritise projects in areas where finance is most needed, while also ensuring that the projects deliver co-benefits such as improved livelihood for the local communities near where the projects are implemented. The carbon credits generated will be from projects that have been verified by international carbon standards developed by Verra or Gold Standard or the carbon crediting mechanism set out in Article 6 of the Paris Agreement – a global treaty seeking to keep global warming under 1.5 deg C by 2050. This is to ensure that the carbon credits purchased ensure real, measurable, and verifiable emissions reductions and removals. A NEWSLETTER FOR YOU Friday, 12.30 pm ESG Insights An exclusive weekly report on the latest environmental, social and governance issues. Sign Up Sign Up Both companies said that a core focus of this partnership is to enhance transparency and rebuild trust in international carbon markets. Criticisms over the integrity of carbon credits over the last few years have been plaguing the growth of the market. Tencent and GenZero will try to de-risk carbon projects by conducting pre-feasibility studies, and strengthen market integrity by deploying monitoring, reporting and verification technologies.. Both parties will also continue to explore opportunities to invest in and scale climate solutions by leveraging their respective networks to identify promising investment prospects that could benefit from co-investment, read the release. Frederick Teo, GenZero's chief executive officer, said that its partnership with Tencent will encompass all three of its core investment areas, which are nature-based solutions, technology-based solutions and carbon ecosystem enablers. Xu Hao, vice-president of Tencent's sustainable social value organisation, said: 'Leveraging our digital capabilities and GenZero's expertise, we aim to enhance carbon market transparency, promote innovative climate technologies, and deploy blended finance models to accelerate global transition to net zero.'
