Related Articles
Experts are divided on what constitute genuine carbon reductions
Forward article link
Share PDF with colleagues

Task force faces huge task to legitimise VCM

Private sector faces tough goal of bringing together stakeholders to give structure to the voluntary carbon market

Efforts to give structure to the global voluntary carbon market (VCM) have stepped up in the last fortnight as hundreds of experts have begun work to develop market governance, quality assurance and legal underpinning for the $1.5bn/yr trade. Offsets represent emissions reduced or avoided compared with a preset baseline and have been used for more than 20 years to neutralise emissions made elsewhere. For more than a decade, the VCM trade has been self-regulated by its private sector participants, rather than any single entity or government. As a result, transactions are mostly bilateral, while clients carry out lengthy due diligence on proposed offsets to ensure they meet relevant criteria.



{{ error }}
{{ comment.comment.Name }} • {{ comment.timeAgo }}
{{ comment.comment.Text }}
Also in this section
South Africa’s energy sector and the just transition
27 October 2021
Continuous engagement by stakeholders crucial in ensuring energy sector is sustainable while also managing social impacts of shift
Aker advances plan to launch €1bn energy transition fund
27 October 2021
Norwegian company also unveils plan to form green industrial hub at site north of Arctic Circle
Big potential seen for CCUS in Southeast Asia
27 October 2021
Technology uniquely positioned to support region’s decarbonisation of power generation and gas processing, conference panellists say
Sign Up For Our Newsletter
Project Data
PE Store
Social Links
Social Feeds
Featured Video