Voluntary carbon markets to play stronger role in future
Washington, DC, 22 November | Verra held a webinar today to summarize key outcomes of COP26 and to outline implications for Verra and voluntary carbon markets (VCM). Over 300 stakeholders attended.
Key points made in the webinar include:
- COP26 confirms the role of the VCM to channel finance, technology, and capacity to climate mitigation activities, particularly in developing countries, and to transfer mitigation outcomes that help countries meet their Nationally Determined Contributions (NDCs) and achieve a 1.5ºC future.
- Corresponding adjustments (CAs) — while mandatory to meet NDCs or international mitigation purposes such as ICAO CORSIA — are optional for VCM transactions such as corporate offsetting. Verra will operationalize CAs through labels.
- Verra is working with other stakeholders, including the Voluntary Carbon Markets Integrity Initiative, to develop guidance for demand-side claims regarding the VCM.
Verra has posted a recording of the COP26 Debrief Webinar, as well as opinion pieces written before Glasgow (Time for Some Scottish Bravery) and after Glasgow (Moving Forward Together). In early December, Verra will also publish an FAQ document to respond to questions posed during the webinar. Further questions can be sent to info@verra.org.
For more information, contact:
Anne Thiel, Senior Manager, Communications, +1.202.470.5664, athiel@verra.org
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Verra is a nonprofit organization that runs the world’s leading carbon crediting program, the Verified Carbon Standard (VCS) Program. Verra is committed to help reduce greenhouse gas emissions, improve livelihoods, and protect natural resources by working with the private and public sectors. We support climate action and sustainable development with standards, tools, and programs that credibly, transparently, and robustly assess environmental and social impacts and enable funding for sustaining and scaling up projects that verifiably deliver these benefits.