Mangrove forests are invaluable in the battle against climate change, providing essential services such as carbon sequestration, coastal protection, and biodiversity support. Carbon projects dedicated to restoring these ecosystems hold the promise of significantly advancing global climate objectives.
On Tuesday, May 28, 2024, the Biden-Harris Administration took a significant step in the fight against climate change by issuing a joint policy statement and integrity principles for voluntary carbon markets (VCMs).
The Voluntary Carbon Market (VCM) enables businesses, governments, and individuals to purchase carbon credits to offset their emissions. Carbon credits can be seen as a company’s voluntary tax on their emissions, channelling funding into projects that reduce or remove carbon from the atmosphere.
Amidst the flurry of media attention surrounding clean cookstove projects, it is essential to consider a full range of standpoints to ensure that we focus on continuously improving the quality and integrity of carbon projects. Scrutiny drives change, and with it, the voluntary carbon market can continue to deliver climate finance to initiatives that go beyond emission reductions and offer meaningful benefits to communities.
With Article 6 developments set to drastically affect views on quality and integrity in the VCM, now more than ever it is essential to gain an understanding of what exactly Article 6 is, how the VCM is involved, and why it is so important.
Voluntary carbon project investment has taken centre-stage over the last eighteen months as secondary market spot trading of carbon credits has become increasingly difficult. From inflated prices on marketplaces to the crowded world of brokered spot transactions, sourcing of carbon credits directly from carbon project investments increasingly offers a reliable alternative to the traditional methods of purchasing carbon credits.
2023 proved to be a pivotal year for the Voluntary Carbon Market (VCM), marked by several developments in its trajectory. As we step into the new year, let's reflect on the past 12 months, specifically the critical insights and milestones that have shaped the VCM, its evolution and the implications for the future.
As we ring in the new year, the aviation industry is transitioning from CORSIA’s pilot phase to CORSIA phase 1. To grasp its significance, it's crucial to understand CORSIA's role and objectives.
Waves are being made in the Voluntary Carbon Market (VCM) by the publication of a study calling for the retraction of the West et al. study used in an article by the Guardian earlier in the year to claim that "more than 90% of rainforest carbon offsets are worthless".
COP28 has been a whirlwind of activity and it feels like this is finally the time that Voluntary Carbon Markets can move on from recent troubles and find new purpose and growth.