Commodities in Focus Weekly: Issue 38
Demand & Integrity in the Voluntary Carbon Markets – The Publication of the VCMI Claims Code of Practice
This week's CIF Weekly article explores the voluntary carbon market's evolving approach to the use of carbon credits with the recent publication of the VCMI's Claims Code of Practice. The use case for carbon credits is still subject to scrutiny, and ensuring integrity is seen as a crucial step to boost prices and expand this emerging market. The article explains how the still developing Claims Code of Practice proposes that companies approach the use of carbon credits, in particular distinguishing between the "value chain" targets which companies should pursue without using carbon credits and the "beyond value chain mitigation" efforts for which they are encouraged to use carbon credits. With the recent crack-down by regulators and action by other interested parties on companies perceived to engage in 'greenwashing', it is increasingly important that companies have clear strategies on when and how to use carbon credits in a credible and transparent manner.
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