Taskforce on Scaling Voluntary Carbon Markets launches market governance consultation
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Major new consultation to seek feedback on proposals for new market governance body, legal principles, and measures to ensure carbon credit integrity
The Taskforce on Scaling Voluntary Carbon Markets has today launched a major new consultation on proposals for a new international market governance body, the legal principles for the fast-expanding market, and how to define high-quality carbon credits.
The Taskforce was launched last autumn by former Bank of England Governor Mark Carney in his role as UN Special Envoy on Climate Action and Finance, and is backed by over 250 global companies and NGOs.
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Taskforce Establishes Core Carbon Principles, Publishes Roadmap for Scaling Voluntary Carbon Markets
Today, the Taskforce on Scaling Voluntary Carbon Markets published its blueprint on creating a large-scale, transparent carbon credit trading market. To limit atmospheric warming to 1.5°C, the world must halve existing greenhouse gas emissions by 2030 and achieve net-zero emissions by 2050. Every business needs to adjust its business model and develop credible transition plans.
A large-scale voluntary carbon market is critical to reaching the goals of the Paris Agreement – it will enable more companies to turn net-zero commitments into action through investments in emissions abatement projects, where they will have the most effect.