Rambharos takes over from interim head Judith Simon, who had been in cost since founding chief David Antonioli left in Could 2023. Rambharos had been on Verra’s board from 2019 to 2021, and once more since 2023.
Rambharos had for over 15 years been a negotiator for South Africa and the African continent at United Nations local weather talks and had chaired negotiations on world carbon markets.
She was on South Africa’s presidential local weather fee and had suggested the nation on its US$8.5 billion Simply Vitality Transition Partnership with rich nations and donors in 2021. The deal was to assist South Africa change to wash vitality and slash emissions sooner.
Rambharos was throughout that interval additionally a basic supervisor at South African state-owned utility Eskom, the place she spent 20 years earlier than shifting to the Environmental Protection Fund in 2022 as vice chairman for world local weather cooperation.
Ken Markowitz, chair of Verra’s board, mentioned Rambharos’ expertise is “unparalleled”. The appointment from an current board member “eliminates the necessity for an prolonged studying curve”, a Verra assertion mentioned.
“Carbon markets are essential to allow carbon neutrality and so they should work effectively and with unquestionable integrity,” Rambharos mentioned. She mentioned she’s going to drive “robust governance, responsive world stakeholder engagement that’s inclusive and clear, environment friendly processes with fast turnaround occasions, and high-performance requirements” to assist the world decarbonise faster.
Since 2009, Verra has issued over a billion carbon credit, every signifying a tonne of carbon dioxide emissions saved, from initiatives that for example higher defend forests or develop clear vitality infrastructure. About 70 per cent of all credit within the voluntary carbon offsetting market have been issued by Verra.
Rambharos takes the helm at a time of uncertainty for the voluntary carbon market. Its worth had tumbled to US$723 million final 12 months, a 3rd of its 2021 peak, on the again of a number of controversies.
Verra had been accused early final 12 months of getting guidelines that allowed forest carbon initiatives to massively oversell carbon credit – a cost the organisation had denied. It has since been updating a number of of its methodologies, and lately acquired endorsement by business watchdog Integrity Council for the Voluntary Carbon Market.
Earlier this month, market tracker AlliedOffsets forecasted the sector to develop to US$27 billion by 2035, pointing to a possible resurgence as companies worldwide face better stress to decarbonise.
