- News -
Published August 17, 2021
A new initiative has been launched to improve the integrity of carbon offsets to help them play a credible role in the mitigation of climate change.
The Voluntary Carbon Markets Integrity Initiative (VCMI) aims to address concerns about the credibility of carbon offsets. The VCMI will focus on critical gaps in the market.
In order to mitigate global warming, carbon credits need to be high-quality, used in addition to decarbonisation, and deliver benefits to the communities that host the projects.
VCMI aims to develop guidance on the use of carbon credits and transparent claims and to promote multi-stakeholder engagement and partnerships.
VCMI will also support countries to access high-quality climate finance, working with governments and the UNDP to channel private finance from carbon offsets towards national climate priorities.
The initiative is supported by the COP26 Presidency and United Nations Development Programme.