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
December 12, 2025 | Agriculture and Food Agency, Ministry of Agriculture, Taiwan (In Chinese) | Taiwan’s Agriculture and Food Agency (AFA) announced new efforts to promote domestic fresh fruit consump
May 21, 2026 | Yahoo News / UPI |Â Vietnam has committed to reaching net-zero emissions by 2050, anchored in its National Climate Change Strategy, which targets a 43.5% emissions reduction by 2030 and
March 30, 2026 | EU CAP Network |Â The EU CAP Network has published new guidelines to strengthen the evaluation of environmental and climate instruments within EU Member States' Common Agricultural
June 8, 2026 | Food and Agriculture Organization (FAO) |Opening the FAO Council's 181st Session, FAO Director-General warned that the prolonged closure of the Strait of Hormuz — a chokepoint for r
May 31, 2026 | AP News |Since Iran's war began on February 28, disruption to Strait of Hormuz shipping has driven fertilizer prices up 40-50%, per World Bank and IFPRI data, pushing farmers across
