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Integrity: Voluntary carbon markets (VCMs) face credibility test in 2023

Could you provide a score - between 1 lowest and 5 highest - for each of the following priorities for a "Carbon Standard"?

a) Accelerate the adoption and integration of new approaches to "Carbon Standard" fundaments, (such as additionality, baselines, monitoring, verification, and permanence) to enhance integrity, transparency, and impact

b) Align the "Carbon Standard" with other carbon market integrity initiatives

c) Expand the "Carbon Standard" Scope to include additional activities / sectors

d) Integrate the "Carbon Standard" with government or jurisdictional programs and policies to increase alignment and ambition (including Article 6 of the Paris Agreement, as you will read more at the end of this post)

e) Adopt new technologies, such as Web 3.0 opportunities and digitization of project documents and methodologies, digital monitoring, reporting, and verification (MRV)


If you replace "Carbon Standard" for "VCS Program"you have the Verified Carbon Standard from Verra. And these are the five topics included in the new public consultation on February 6th. Another one. And with waves of developments in the carbon credit markets in 2023. Future and recent past.


Verra now is opening their vision for a renewed VCS Program, to strengthen its credibility and integrity and to enable increased global climate action to support halving emissions by 2030 and achieving net-zero global emissions by mid-century.


In the consultation, the 5 items above are intended to help gauge which are most important, aligned with 18 specific questions, covering topics like integrity, scope, innovation, usability and operational excellence.



Important to mention the activities of the Integrity Council for the VCM (ICVCM) and the publication of the Core Carbon Principles planned for coming March . Expectation is that these will help build trust in the market by testing the verification processes used by active carbon-credit registries.


Last - but extremly relevant - there is also the "Article 6 Implementation Partnership", of which CarbonCreditMarkets became a partner. The partnership is a high level iniciative launched during COP27 and under the leadership of the Government of Japan, with the intention to development of high integrity carbon markets . Its 1st Plenary meeting will occur coming February 20.






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 CARBON CREDIT MARKETS

“Nothing in life is to be feared, it is only to be understood. Now is the time to understand more, so that we may fear less.”

“I am among those who think that science has great beauty”

Madame Marie Curie (1867 - 1934) Chemist & physicist. French, born Polish.

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