VCMI welcomes ICVCM global benchmark for high-integrity carbon credits
The VCMI welcomes today’s release of ICVCM’s full global benchmark for high-integrity carbon credits.
Voluntary carbon markets are a critical tool to help finance the transition needed to achieve the goals of the Paris agreement. But they can only fulfil this role if high-quality credits are used correctly by companies as part of credible net-zero pathways. ICVCM’s Core Carbon Principles and Assessment Framework will ensure the integrity of the carbon credits generated while VCMI’s recently published Claims Code of Practice will ensure that they are used appropriately.
VCMI and Integrity Council have a shared goal of delivering end-to-end integrity across the voluntary carbon market, ensuring that carbon credits meet the highest quality threshold and that they are correctly used by the companies that purchase them.
Building on the partnership we announced in May, our aim is to deliver a high-integrity voluntary carbon market that the private sector can invest in, and governments can support, offering a vital complement to all efforts in rapidly decarbonizing value chains.
This work is instrumental in instilling credibility and confidence in the market. As we progress through 2023, a pivotal year for the development of the VCM development, today’s announcement from the Integrity Council signifies a major stride forward towards achieving our objectives.