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VCMI’s Consultation Report encouraged dialogue and an exchange of ideas to inform VCMI’s work.

You can view and download the full report below.

 

Consultation Report Overview

Consultation Report Overview

As companies and other non-state actors set climate targets, there is growing interest in voluntary carbon markets. Provided the purchased carbon credits are high quality, voluntary carbon markets provide an opportunity to channel significant private sector finance into mitigating climate change, protecting nature and supporting sustainable livelihoods, at a time when finance is so urgently needed.

But integrity is crucial to ensure that the use of voluntary carbon markets strengthens – rather than undermines – global action towards achieving the goals of the Paris Agreement.

Drawing on initial discussions with a diverse range of stakeholders, the Consultation Report proposes areas of engagement that are complementary to existing initiatives working to enhance the integrity of voluntary carbon markets.

Download the Consultation Report:  Aligning Voluntary Carbon Markets with the 1.5˚C Paris Agreement Ambition: A global consultation report of VCMI.

Feedback on the Consultation Report

Feedback on the Consultation Report

Feedback from fifty-two organizations working broadly on topics and issues that overlap with voluntary carbon markets (VCMs) is synthesized in this report.

Key takeaways include:

  • There is broad agreement with VCMI’s vision and principles for high-integrity VCMs
  • Capacity-building and attention to equity are key needs for both demand-side and supply-side integrity
  • Aligning claims guidance with science requires a focus on abatement
  • Aligning claims guidance with regulation and governance mechanisms requires a focus on Article 6 as it is elaborated and finalized through the United Nations Framework Convention on Climate Change (UNFCCC) process
  • VCMs can provide opportunity for climate action in the absence of regulation
  • Achieving transparency and consistency in accounting and reporting requires agreement on definitions and processes
  • There is ample and desired opportunity for VCMI to lead and collaborate to improve integrity in VCMs

In addition, members of the VCMI Consortium team produced several supplementary documents. While these are not part of the core consultation, they are provided to offer extra context and insight around the creation of VCMI and the Initiative’s aims to supplement the proposals outlined in the Consultation Report.

These include:

  • Criteria for Voluntary Carbon Markets Related Claims
  • Proposal for Voluntary Carbon Markets Access Strategies
  • Summary of consultation interviews
  • Vision & Principles
  • Case Studies
  • Net Zero and Voluntary Carbon Markets

Download the supplementary documents below

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