High-integrity voluntary carbon credit markets (VCMs), as well as carbon credit markets more broadly, have the potential to support decarbonization efforts within the United States and globally, accelerating net emissions reductions while reducing their cost. They can achieve this by further unlocking capital and demand for real, additional, lasting, and independently verified emissions reductions and removals.
While VCMs remain relatively small today, they have the potential to grow in the coming years and channel a significant amount of private capital to support the energy transition and combat climate change, with the right incentives and guardrails in place. This paper “Voluntary Carbon Markets Joint Policy Statement and Principles” by The White House provides observations on the current state of VCMs and their potential.
It then outlines voluntary principles that U.S. market participants should embrace as they engage in these markets. These principles will also guide how the U.S. Government engages with VCMs. Much of the content speaks to the development and operation of carbon credit markets generally.
Access the complete paper here
