Scaling voluntary carbon markets to advance climate goals
The consultation document from The Taskforce on Scaling Voluntary Carbon Markets sets out a roadmap to build an effective voluntary carbon market to help meet the goals of the Paris Agreement.
The consultation document acknowledges that achieving net zero by 2050 necessary for the 1.5°C goal requires deep, rapid and broad-ranging action to reduce greenhouse gas emissions across all sectors of the economy. As an increasing number of companies are committing to net zero to support this goal, they will be expected to show how they plan to meet it through an appropriate mix of direct emissions reductions and use of carbon credits. Carbon credits, purchased voluntarily, enable organizations to compensate for residual emissions by financing the reduction of emissions from other sources or the removal of greenhouse gases from the atmosphere. For companies operating in hard-to-abate sectors carbon credits will play a particular