Certification delays at Verra and the Gold Standard have increased in the past year, prompted by the steep rise in the demand for carbon credits and the sheer number of companies applying for new projects.
Verra and Gold Standard acknowledge delays at their organisations and verification bodies.
But a source working at one of the major developers said the changes have not yet been apparent, with delays piling up in recent months.
“Delays are becoming worrying, we have a number of projects that could lose financing if the credits are not issued by a certain date. For some of them, the deadline is soon. In some cases, we are waiting several months for certain minor steps to the project’s approval,” he said.
“We know they are doing all they can and that there’s a huge backlog, but we feel powerless.”