Verra Slashes Staffing: CEO Mandy Rambharos Confirms 25% Workforce Reduction

Verra CEO Announces Company Restructuring with Significant Workforce Reduction

Verra’s CEO Mandy Rambharos delivered a somber message on October 21st, revealing plans for a significant company restructuring. In a direct and candid statement, Rambharos announced, “Today, I informed our team of a difficult but necessary decision to reduce our workforce by roughly 25 percent. This step, though not taken lightly, is essential to realign our resources with our core priorities and ensure Verra’s agility and leadership in a rapidly evolving environment. This restructuring will enable us to concentrate more effectively on upholding the rigor and integrity of our standards programs, offering enhanced support to our stakeholders, and fostering collaborative efforts across the ecosystem to strengthen environmental and social markets.”

In his press release, Rambharos emphasized the importance of sharing Verra’s vision and reiterated the organization’s dedication to enhancing the impact of climate action. He also underscored the significance of sustainable development within voluntary carbon markets (VCM), stressing the ongoing need to assess how best to serve stakeholders in a dynamic market landscape. Reflecting on insights gleaned from the 2024 Stakeholder Survey, Rambharos acknowledged the challenges faced in project review timelines, stakeholder engagement, process clarity, and technical solutions. These observations prompted the decision to restructure and streamline operations, even amid a reduction in workforce. The CEO expressed confidence that these changes would fortify Verra, positioning it to lead the future of VCM with increased resilience and capability.

In 2023, Verra laid the groundwork for new initiatives aimed at advancing climate action and sustainability, with a particular focus on enhancing standards programs for future success. A notable achievement within the Verified Carbon Standard (VCS) Program was the introduction of a new REDD methodology (VM0048) and a module (VMD055) designed to combat unplanned deforestation and direct funding towards forest conservation efforts. The program also updated existing methods and made progress towards the development of the next version of the VCS. To broaden its impact, Verra collaborated with the Integrity Council for the Voluntary Carbon Market (ICVCM) and partnered with governments and financial institutions. Furthermore, work commenced on a Scope 3 Standard Program aimed at assisting companies in reducing carbon emissions within their supply chains to meet climate targets.

However, Verra faced scrutiny last year for approving carbon offsets deemed “worthless,” which raised concerns about the integrity of its certifications. In January 2023, a high-profile investigation by The Guardian revealed that over 90% of Verra’s rainforest offset credits could be considered “phantom credits,” potentially not reflecting genuine carbon reductions. Following significant criticism over product quality, former CEO David Antonioli stepped down in May 2023. Despite these challenges, Verra’s VCM and GHG crediting program continues to be recognized as a reputable and globally acclaimed entity.

Nevertheless, the decision to downsize the workforce by 25% remains a difficult one, regardless of the circumstances prompting it. The hope is that CEO Mandy Rambharos will succeed in his endeavors and uphold Verra’s reputation, as articulated in this recent announcement.

Matt Lyons

Matt Lyons

Matt Lyons is the founder of Forestry & Carbon. Matt has over 25 years as a forestry consultant and is invoilved in numerous carbon credit offset projects.

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