Corporate commitments to eliminate deforestation from commodity supply chains really took off in 2014 with the New York Declaration of Forests. It had become increasingly clear that commercial agriculture – namely soy, palm oil, cattle, and timber – was behind the majority of deforestation. Today, anti-deforestation commodity commitments cover $96.8B in export value. In parallel, […]
Carbon credits can provide flexibility for more efficient and impactful use of capital where low carbon portfolios are overvalued or if ESG strategies are failing to deliver meaningful climate change mitigation. The financial sector’s transition to net zero should include widespread use of high integrity carbon credits (1), as a supplement to robust decarbonization targets […]
Mangrove forests are excellent at storing carbon particularly in their soil. But these critical forest ecosystems are under threat of conversion, degradation, and destruction. The Climate Action Reserve is working to protect and restore mangrove ecosystems and recently registered the first-ever mangrove forest offset project in Mexico. The Manglares San Crisanto/San Crisanto Mangroves project is demonstrating the ability of mangrove forests to become viable offset projects and deliver important co-benefits to local communities.
ACR prohibits the tokenization of its carbon offset credits unless explicitly authorized, as a first step in the development of a set of guardrails to protect market integrity in the face of unregulated cryptocurrencies.
India will ban firms from exporting carbon credits until the nation meets its climate goals; Hon’ble Cabinet Minister (Power, New & Renewable Energy) told lawmakers debating changes to the country’s energy conservation law on Monday. This brings more confusion to the carbon market. There is a need to have a clearer pathway under the carbon market. Author’s observations are discussed in the article.
This is a developing story.
New Market Analysis Published from Ecosystem Marketplace
According to the latest State of the Voluntary Carbon Markets report from Ecosystem Marketplace, the VCM grew in value towards $2 Billion in 2021. This quadrupling in market value from 2020 was driven by an acceleration of nature-based solutions trading volume and higher prices for these and other projects with non-carbon environmental and social benefits, such as clean cookstoves and water purification devices.
With the aim of setting a definitive and consistent benchmark for credible, high-integrity carbon credits, The Integrity Council for the Voluntary Carbon Market has developed a draft set of Core Carbon Principles (CCPs), Assessment Framework (AF) and Assessment Procedure. The public consultation is now open.