VCMI response to agreement of Article 6 rulebook

VCMI response to agreement of Article 6 rulebook

The agreement of an Article 6 rulebook is welcome. However, much critical detail needs to be determined in the coming period – including how these rules relate to voluntary carbon markets and use of Article 6 units to meet voluntary commitments.

It is immediately clear that establishing credible guidance on the claims that companies and other non-state actors can make regarding the voluntary use of carbon credits is more important than ever – this is at the heart of VCMI’s work.

In response to the Article 6 rulebook, VCMI will look closely at the implications for delivering high integrity, inclusive voluntary carbon markets – including the following areas:

  • Whether and how Corresponding Adjustments are made for voluntary use of carbon credits, when credits acquired are not used to meet the buyer country’s Nationally Determined Contributions.
  • Meaningful and inclusive participation of Indigenous Peoples, local communities, and other rights holders in greenhouse gas reduction and removal projects.
  • The role of voluntary carbon markets outside the purview of Article 6.
  • Distinguishing between claims based on use and cancellation of credits (from Article 6.4 or elsewhere) and those reflecting other types of action and contribution.
  • Ensuring full transparency that allows for public scrutiny of the generation and use of carbon credits.
  • If businesses should be permitted to make climate action claims based on some complete or partial use of carbon credits generated before 2021, except to compensate for historic emissions.
Driving integrity in voluntary carbon markets for climate resilience & a sustainable future

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