The CEO of one of the world’s foremost certifiers of so-called carbon credits announced that he will step down. David Antonioli, CEO of the climate-action nonprofit known as Verra announced that he will be leaving his position at the organization in June, although he plans to stay on in a reduced, senior-advisory role.
Antonioli will be replaced by the organization’s current president, Judith Simon. The announcement comes after a recent investigation into the group found that approximately 90 percent of its so-called carbon credits are, essentially, worthless and have no measurable impact on carbon reductions.
Antonioli, the organization’s founding CEO, didn’t mention the worthless carbon credits in the announcement on his LinkedIn page.
“I am immensely proud of what Verra has accomplished and of the incredible team that has made it the world’s leading standard-setter for climate action and sustainable development,” Antonioli wrote.