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Accelerating credible net-zero climate action

Download the VCMI Summary of 2022 Public Consultation and Road Test.

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Launch event

Watch the VCMI Claims Code of Practice Launch event below

The Voluntary Carbon Markets Integrity Initiative is developing a Claims Code of Practice to guide credible, voluntary use of carbon credits and associated claims.

The Claims Code of Practice (CoP) will guide companies to make transparent and credible claims about their progress towards a longer-term Net-Zero commitment.

The VCMI Claims Code of Practice is now being developed through a balanced, transparent, and inclusive stakeholder process. The VCMI is proactively engaging with interested organizations, providing a range of options to engage with the process, including:

  • Targeted input on initial thinking with >60 participants from a broad spectrum of business, country, NGO, Indigenous Peoples and Local communities stakeholders on early drafts of the CoP (March – April 2022)
  • A road-test with corporate participants (June – August 2022)
  • Deep dives with Non-State Actors (NSAs) (June – August 2022)
  • Public consultation (June – Aug 2022)

Many organisations and individuals are contributing to the process, and we are making strong progress with your support.

VCMI is a multi-stakeholder platform to drive credible, net-zero aligned participation in voluntary carbon markets.

To avoid the catastrophic impacts of climate change, global warming must be kept to 1.5C above pre-industrial levels.

Voluntary carbon markets provide an opportunity to direct private finance towards climate mitigation and nature-based solutions.

But integrity is crucial. VCMI engages stakeholders around a shared mission to ensure voluntary carbon markets fulfil their potential to support the goals of the Paris Agreement.

VCMI connects and amplifies initiatives that share its vision for high integrity voluntary carbon markets. In addition, it focuses on a few key areas where there is a clear need for additional work.

Immediate priorities are to:

  • Develop high integrity guidance for buyers of carbon credits, including on climate claims by businesses.
  • Support access to high-integrity voluntary carbon markets and monitor broader supply-side integrity efforts.

VCMI’s Provisional Code of Practice User Guide

VCMI’s Provisional Code of Practice User Guide

This User Guide summarizes VCMI’s Provisional Code of Practice, which was published for road testing and public consultation in June 2022.

The Code is designed to help companies ensure that their engagement with voluntary carbon markets makes a significant, measurable, and positive contribution to achieving the Paris Agreement goals while also promoting inclusive, sustainable development.

The User Guide provides a high-level but practical overview of the actions that companies and other Non-State actors can do to make this a reality, and how they can make credible claims about their voluntary use of carbon credits.

Click here to download the guide.

 

Alok Sharma profile picture
Alok Sharma President for COP26

“Voluntary carbon markets can increase finance flows. I am pleased the UK Government is supporting the Voluntary Carbon Market Integrity Initiative to help ensure they deliver the greatest benefits for climate, for people and nature.”

Rachel Kyte profile picture
Rachel Kyte Dean of the Fletcher School, Tufts University

“Without clarification — and real enforcement — net zero will become an empty slogan that governments, corporations and investors can use to greenwash emissions as usual.”

Hindou Ibrahim profile picture
Hindou Ibrahim Founder and President of the Association for Indigenous Women and Peoples of Chad (AFPAT)

“Voluntary carbon market investment in natural climate solutions has the potential – only if it is done right – to accelerate climate mitigation while increasing much needed finance for natural climate solutions. Doing it right means respecting the rights, land, and territories of Indigenous Peoples; supporting projects governed by Indigenous Peoples and local communities while increasing finance for community conservations; and ensuring gender, social, and environmental standards.”

Supported by

VCMI is supported by the Children’s Investment Fund Foundation (CIFF) and the UK Government’s Department for Business, Energy & Industrial Strategy

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