Voluntary markets need improved transparency to restore trust

Number of transactions in voluntary carbon offsets market has fallen dramatically since critical media reports, says Climate Crisis Advisory Group

There is a critical need for enhanced scientific rigour and better transparency in the operation of voluntary carbon markets (VCMs), according to a new report from independent thinktank Climate Crisis Advisory Group (CCAG). VCMs have taken a reputational hit following a series of investigative newspaper reports in 2023 claiming that many credits sold did not represent genuine carbon reductions. “The number of transactions and the money going into the system basically halved in the 12 months following these reports,” Mark Maslin, a professor at UCL and one of the authors of the CCAG report, told Carbon Economist in an interview. “But we have to pursue every solution there is to try and get gl