First and foremost, a Verification Body must follow all applicable Climate Action Reserve program rules and adhere to guidance laid out in its sector-specific project and verification protocols to be eligible to perform verifications and to ensure the accuracy and credibility of the emissions reductions within the Reserve. A Verification Body must always demonstrate ethical conduct and exercise due professional care throughout the verification process.

Verification Bodies with the Reserve must abide by certain duties and obligations, in addition to rules laid out in the Reserve protocols. Likewise, the Reserve has the discretion to exercise certain powers.

The Verification Body obligations include, but are not limited to, the following:

• Comply with any guidelines or policies notified to them by the Reserve
• Have a minimum of two Lead Verifiers on staff. This will enable the appropriate management of the verification program and the separation of powers and responsibilities between the role of Lead Verifier and the role of Independent Peer Reviewer. The Reserve does, however, allow for the use of subcontractors.
• Ensure that all of its Lead Verifiers are competent and have undertaken and successfully completed sector-specific training reasonably required by the Reserve
• Ensure that a Lead Verifier directs, supervises and leads the undertaking of the verification services and signs all written reports or opinions
• Ensure that the Internal Peer Reviewer must also be an active Lead Verifier as defined by the Reserve and able to demonstrate continued competence and appropriate continuing professional development
• Ensure that all Verification Body personnel working on project verification activities are competent and have agreed to be bound by confidentiality obligations, including that the panel member accepts liability for any breach of confidentiality by its officers, employees or agents
• Submit a signed and executed Verification Policies Acknowledgement and Agreement Form to the Reserve annually. As staff and roles fluctuate over time, the verification body must ensure that an updated form has been submitted and is on file with the Reserve
• Provide the Reserve with a Notification of Planned Verification Activities and Conflict of Interest (NOVA/COI) Form a minimum of 10 business days before the commencement of work, so that the Reserve has an opportunity to decide whether it wishes to observe any part of the verification activities
• Not enter into any agreement or participate in any activity that amounts to a conflict of interest without notifying the Reserve in writing
• Hold professional liability insurance to the level of at least $1 million for any one or more claims arising out of the same set of circumstances and a policy of professional indemnity insurance with a reputable insurer
• Retain records and all relevant supporting evidence for at least five years from the date of the verified emission report; Verification Bodies must retain their records for a matching period
• Provide the Reserve with full and free access to obtain all of the records, documents, accounting and other information maintained by the Verification Body in relation to Reserve project developers

These obligations are laid out in further detail in the Reserve additional accreditation requirements for project verification.

The Reserve has certain powers that can be exercised at any time and at its sole discretion. They include:

• Upon considering the nature of a verification scope or a potential conflict of interest, Reserve may direct the Verification Body and the Project Developer not to enter into any agreement that may amount to a conflict of interest, and the Verification Body must comply with any such direction
• It may determine that a Project Verification should not proceed or that a person should be removed or included as a Lead Verifier or key personnel
• It may conduct a performance review or oversight activities and send its staff, partners or consultants to attend and oversee project verification activities
• It may compel the project developer or the Verification Body to submit all project documents in relation to the GHG assertions made within the Reserve
• It may amend these rules as it sees fit