VCMI Claims Code of 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.”

“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.”

“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.”

“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.”

“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.”

“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.”