Verra Updates on 4.5 Million Over-Issued Carbon Credits from Rejected Rice Projects in China
January 10, 2025 | CarbonCredits.com |
Verra has updated the compensation process for 4.56 million over-issued Verified Carbon Units (VCUs) linked to 37 rejected rice cultivation projects in China. An August 2024 review found that 25 projects issued more credits than earned, undermining carbon market integrity. To date, 480,000 VCUs from five projects have been compensated by Vitol (China) Energy and Timing Carbon Asset Management, while 4.08 million VCUs remain outstanding. Search CO2 (Shanghai) Environmental Science & Technology and Hefei Luyu Agriculture Technology, responsible for these credits, face registry account suspensions until full compensation is made. Verra is also reviewing validation and verification bodies (VVBs) involved, with potential sanctions or suspensions for non-compliance. This decisive action reinforces Verra’s commitment to transparency, accountability, and strengthening the integrity of voluntary carbon markets.
Viewed Articles
January 10, 2025 | CarbonCredits.com | Â Verra has updated the compensation process for 4.56 million over-issued Verified Carbon Units (VCUs) linked to 37 rejected rice cultivation projects in China. A
Read More
June 18, 2025 | Food and Agriculture Organization (FAO) | Â FAO and UNDP have initiated a joint mission in Angola to advance climate-resilient rural development through integrated agriculture and clean
July 02, 2025 | Reccessary | Â The European Commission plans to propose a 90% greenhouse gas reduction target by 2040, allowing from 2036 limited use (3%) of international carbon credits to address res
July 11, 2025 | CarbonCredits.com | Â Microsoft has signed a 12-year deal with Agoro Carbon to purchase 2.6 million verified soil carbon removal credits, one of the largest agricultural carbon removal
April 1, 2025 | Mongabay | Â Agroforestry has been steadily gaining ground over the past eight years in the U.S., with the number of projects increasing 6% nationwide according to a new study. A federa
April 8, 2025 | Rice Today |  In Bangladesh’s Chattogram Hill Tracts—a remote, low-productivity agricultural zone marked by steep terrain, water scarcity, and poor soil fertility—the International Ric
