David Antonioli announced yesterday that he has “decided to step down” after 15 years as the CEO of Verra. In a statement on LinkedIn, Antonioli says he is “immensely proud of what Verra has accomplished”. Antonioli is leaving at a time when Verra is coming in for increasing criticism. In January 2023, a nine-month investigation by
Verra has been responsible for hundreds of millions of worthless carbon credits, sold for billions of dollars, coming to market. Their purchasers might now well be wondering who is accountable. Antonioli is the obvious fall-guy, and clearly with a heavy burden of culpability. But the lawyers will no doubt also be looking closely at the role of the Verra Board, which allowed the issuance of non-credible credits to continue unabated for more than a decade.
Verra has been responsible for hundreds of millions of worthless carbon credits, sold for billions of dollars, coming to market. Their purchasers might now well be wondering who is accountable. Antonioli is the obvious fall-guy, and clearly with a heavy burden of culpability. But the lawyers will no doubt also be looking closely at the role of the Verra Board, which allowed the issuance of non-credible credits to continue unabated for more than a decade.