Voluntary Carbon Markets: Potential, Pitfalls, and the Path Forward
This report examines the role of corporate bodies and their delivery of net-zero contributions (and beyond, eventually, to net-negative contributions). The particular mechanism under review is VCMs, which are a popular means of setting a corporate pathway to net zero.
ID:
3593
Authors:
Climate Crisis Advisory Group
Year:
Month:
June
Resource Type:
Report
Subject:
Carbon & environmental markets
Emissions reduction & sequestration
Geographic Coverage:
United Kingdom
This latest CCAG report addresses the topic of voluntary carbon markets (VCMs). The report examines the role of corporate bodies and their delivery of net-zero contributions (and beyond, eventually, to net-negative contributions). The particular mechanism under review is VCMs, which are a popular means of setting a corporate pathway to net zero. The report outlines how VCMs should work, but also looks at what can go wrong. It sets out the limitations of what VCMs can logically bring to the global ambitions for net zero, and concludes with recommendations. These recommendations seek to ensure that scientific rigour and transparency are built into VCMs so their potential can be fully realised in the future.