For Companies

Claims Code of Practice

The VCMI Claims Code of Practice (Claims Code) aims to accelerate corporate engagement with carbon credit markets as part of net zero pathways. It seeks to bring confidence and credibility to claims that involve the use of carbon credits.

Download the Claims Code of Practice

The VCMI Claims Code of Practice provides a framework to guide both corporate decision-making, as well as provide a blueprint for government policy to inventivize credible private sector investment in carbon credits. VCMI encourages all businesses  to use the Claims Code of Practice to underpin their investment decisions in carbon credit markets on the pathway to net zero, and governments to use it as a basis for policymaking. Sign up to our newsletter to receive the latest information and updates.

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Monitoring, Reporting & Assurance (MRA) Framework

The VCMI Monitoring, Reporting and Assurance (MRA) Framework outlines specific reporting and assurance criteria to guide credible use of carbon credits. This encourages corporates and governments participating in carbon credit markets to ensure that underlying information is appropriately evaluated, evidenced, and verified.

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Additional Guidance

06 September 2024 [ARCHIVE] Background Document of the VCMI Claims Code of Practice
Publication | Claims Code | Archive
01 November 2023 [ARCHIVE] Explanatory Notes of the VCMI Claims Code of Practice
Publication | Claims Code | Archive

Previous versions of the Claims Code and MRA Framework

18 August 2025 [ARCHIVE] VCMI Claims Code of Practice (August 2025, version 3.1)
Publication | Claims Code | Current
18 August 2025 [ARCHIVE] Monitoring, Reporting & Assurance (MRA) Framework (August 2025, version 1.4)
Publication | Claims Code | Current
30 April 2025 [ARCHIVE] VCMI Claims Code of Practice (April 2025, version 3.0)
Publication | Claims Code | Archive
30 April 2025 [ARCHIVE] Monitoring, Reporting & Assurance (MRA) Framework (April 2025, version 1.3)
Publication | Claims Code | Archive
01 August 2024 [ARCHIVE] VCMI Claims Code of Practice (August 2024. version 2.1)
Publication | Claims Code | Archive
08 April 2025 [ARCHIVE] Monitoring, Reporting & Assurance (MRA) Framework (April 2025, version 1.2)
Publication | Claims Code | Archive
01 November 2023 [ARCHIVE] VCMI Claims Code of Practice (November 2023. version 2)
Publication | Claims Code | Archive
01 June 2023 [ARCHIVE] VCMI Claims Code of Practice (June 2023. version 1)
Publication | Claims Code | Archive

About the Claims Code

This VCMI Claims Code of Practice brings confidence and credibility to claims that involve the use of carbon credits. The Claims Code guides companies’ credible use of carbon credits to accelerate global net zero, above and beyond science-aligned emissions cuts.

The Claims Code supports the fundamental integrity of carbon credit markets and therefore their ability to make a meaningful contribution to the goal of the Paris Agreement, while also at the same time contributing towards the United Nations Sustainable Development Goals (SDGs).

Developed through a global, multi-stakeholder collaborative process, the Claims Code builds on the Provisional Claims Code released by VCMI in June 2022. It expands on requirements of other leading climate change initiatives, including the Carbon Pricing Leadership Coalition’s (CPLC) Report of the Task Force on Net Zero Goals and Carbon Pricing; the full suite of Science Based Target initiative’s (SBTi) target setting guidance and standard; Gold Standard’s Scope 3 Value Chain Interventions Guidance; The Oxford Principles for Net Zero Aligned Carbon Offsetting; the UNSG’s HLEG; and the GHG Protocol’s Corporate Value Chain (Scope 3) Accounting and Reporting Standard.

The content of the Claims Code is driven by VCMI’s Principles for High Ambition and High Integrity Voluntary Climate Action by Companies.

The Claims Code represents the collective judgement of VCMI’s Steering Committee – VCMI’s high-level decision-making body – and was developed under the guidance and advice received from VCMI’s Expert Advisory Group, as well as inputs received from broad multi-stakeholder engagement.

The primary purpose of the VCMI Claims Code of Practice is:

  • To provide clear requirements, recommendations and supporting guidance to companies and other non-state actors (NSAs) on how they can credibly use carbon credits as part of their near-term emissions reduction objectives, and long-term net zero strategies
  • To provide guidance on how they communicate their use of those credits

Who should use the Claims Code?

The Claims Code is for companies seeking to make credible voluntary use of carbon credits as part of their decarbonization strategy.

The Claims Code of Practice sets out how companies can use carbon credits as part of their science-aligned near-term emissions reduction targets. To align with The Claims Code, companies should set short-term emissions reduction targets, and a commitment to longer-term targets is recommended. Targets should be aligned with a trajectory of net zero emissions by 2050.

With these commitments in place, companies should then purchase high-quality carbon credits, representing emissions reductions and/or removals from outside their value chain. Companies using the Claims Code can demonstrate how high-quality carbon credit use supports the collective global effort to reach net zero.

Equally, the Claims Code helps the following groups as a point of reference:

  • Individuals, businesses, and other buyers of goods and services seeking to make climate-friendly purchases;
  • Investors and other stakeholders who want to judge the credibility of companies’ climate ambitions and actions, including use of carbon credits alongside broader decarbonization efforts;
  • Governments and their regulatory agencies considering how to incentivize companies to use carbon credits credibly and structure claims to be truthful, clear and informative, through government-developed or endorsed corporate reporting requirements, advertising and consumer protection standards and other policies, measures, or guidance.

Changes to Foundational Criteria

VCMI consulted with its Expert Advisory Group and Stakeholder Forum to determine some changes to its Claims Codes’ Foundational Criteria, designed to ensure VCMI is aligned with evolutions in best practice approaches to corporate climate action while providing solutions for corporates to deliver immediate, near-term action.

The changes were implemented alongside the Scope 3 Action Code of Practice at the end of April 2025.

The changes made were:

Foundational Criterion 1 has been updated to reflect the fact that countries may use national GHG emissions inventory methodologies, which have been adapted from the Greenhouse Gas Protocol (GHGP). This more inclusive approach is aligned with the GHGP.

Foundational Criterion 2 has been updated to reflect that near-term emissions reduction targets shall be consistent with reaching net-zero by 2050, but VCMI will not require companies to make a public commitment.

Though target setting must be consistent with net zero no later than 2050, the requirement for a public commitment has been identified as a significant barrier to entry for companies that are focused on reducing emissions in the near-term. Ensuring companies have net zero aligned near-term targets is in line with VCMI’s high-integrity approach.

Commitment to long-term targets and setting long-term targets has become a recommendation, reflecting the urgent need for more ambitious and rapid action immediately and in the next five to 10 years.

All near-term emission reduction targets must be established through a credible science-aligned framework and should be validated by a third party.

Instead of requiring the verification stage to be delivered according to SBTI’s process, the scope has been broadened to allow for verification through other target setting frameworks, if available and credible, and recommend it is done by a third party organization, in line with best practice.

“Congratulations to VCMI for the launch of the operable Claims Code of Practice – I would argue that operable is the operative word in the current, very stormy, emissions reduction landscape. At present, corporations that are pursuing climate actions find themselves in the crossfire between those who demand perfection overnight and accuse of greenwashing and those on the other side of the isle who attack the ESG and net-zero commitments – leading to intimidation and green hushing on the part of corporations. The path between the two is very difficult to forge. Increasing scrutiny has to be met with increasing credibility, especially in an unregulated market. Now, we all know that eventually the carbon market will have to become regulated. But in the meantime, it is heartening to see the seriousness with which integrity is being pursued by the VCMI.”

Christiana Figueres Former Executive Secretary, UNFCCC

“Kenya welcomes VCMI’s Claims Code of Practice and its clear guidance to organizations on credible use of high-quality carbon credits, towards net zero commitments. As we aim to lead in the supply of these quality units, high demand side integrity will accelerate the flow of carbon finance to all our local communities and foster green economic growth. Our upcoming carbon market regulations will inspire significant investments into impactful voluntary carbon market activities, whilst ensuring strong governance and transparency. We believe the claims code will build trust and contribute to international cooperation towards the 1.5 degree goal.”

Ali D Mohamed Climate Change Envoy, Kenya

“Ladies and gentlemen, I welcome today’s launch of the VCMI’s Claims Code of Practice and I believe that this code has some very key elements that we need in providing further guidance on the foundational criteria and clarity that we need on exactly how it is that we can use carbon credits and how we can ensure that they remain aligned to the Paris Agreement and to our long term climate goals.

I think that this is very important that we understand exactly and build integrity in the market, because as we build integrity and quality in the market, we certainly will create a more energetic market that will have ripple effects towards the communities that are involved in building this carbon market that we are all hoping will not only be beneficial to the climate agenda, but to the sustainable development goals agenda. Thank you.”

Hon. Bogolo Kenewendo Africa Director & Special Advisor, The Climate Change High-Level Champions

“The VCMI is delivering much needed clarity for organizations around the world, so that they can use carbon credits in a meaningful way and build the trust needed for the market to succeed.

Building on today’s launch of the Code of Practice, we will work closely with the VCMI, our international partners and the UK’s world-leading financial sector so we deliver a high integrity voluntary carbon market which accelerates the shift to net-zero on a global basis.”

The Rt Hon. Graham Stuart Minister of State for Energy Security & Net Zero

“This May the G7 leaders endorse the principles of high integrity carbon markets which guide supply, demand and market infrastructure, to improve confidence in carbon markets.

We highly commend the VCMI Claims Code, which will operationalize the principles. Japan will support the development of high integrity carbon markets through the Article 6 implementation partnership.

We look forward to working together with VCMI.”

Hiroshi Ono Vice-Minister for Global Environmental Affairs, Ministry of the Environment, Japan

“To meet our global climate and nature goals, we need companies to significantly increase investments outside of their value chains. VCMI’s Claims Code of Practice will begin to address this incentive gap. We hope that the coming years will see VCMI and others scale and direct necessary private sector finance towards activities that benefit people, nature, and climate.”

Ani Dasgupta President and CEO of World Resources Institute