Climate Change Committee recommendations to government on voluntary carbon markets…

climate-change-committee-recommendations-to-government-on-voluntary-carbon-markets…

Climate Change Committee recommendations to government on voluntary carbon markets…

Climate Change Committee recommendations to government on voluntary carbon markets and offsetting
2022-10-18 22:50:00
The Climate Change Committee (CCC) has a new report, called “Voluntary Carbon Markets and Offsetting”.  It looks at the evidence on the risks and opportunities presented by voluntary carbon markets and ‘offsetting’, in relation to progress to “Net Zero” in the UK and beyond.  The role of voluntary carbon markets can only be limited.  The CCC says that before growing voluntary carbon markets, Government must put in place stronger guidance, regulation and standards to ensure purchase of carbon credits is not used as a substitute for vital direct business emissions reduction – also to improve the integrity and transparency of carbon credits. In the absence of these measures, there is a real risk that voluntary carbon markets slow progress towards Net Zero or damage other priorities such as climate adaptation and biodiversity. The CCC recommends that business should use measures with high integrity, but focus on actually cutting their direct emissions.  Voluntary carbon markets should result in lower overall CO2 emissions. They say carbon credit standards should better consider biodiversity and other ecosystem services, especially in biodiversity priority areas. Climate and nature should both be protected together. .Tweet   Voluntary Carbon Markets and Offsetting Climate Change Committee website. October 2022 https://www.theccc.org.uk/publication/voluntary-carbon-markets-and-offsetting/  1. Outline This report looks at the evidence on the risks and opportunities presented by voluntary carbon markets and ‘offsetting’ to progress to Net Zero in the UK and beyond. Voluntary carbon markets are markets where carbon credits are purchased, usually by organisations, for voluntary use rather than to comply with legally binding emissions reduction obligations. Voluntary carbon markets are growing, driven in part by demand from businesses looking to ‘offset’ their emissions. 2. Key messages High-integrity carbon credits purchased by businesses can play a small but important role in supporting the transition to Net Zero. But before growing voluntary carbon markets, Government must put in place stronger guidance, regulation and standards to ensure purchase of carbon credits is not used as a substitute for direct business emissions reduction, and to improve the integrity and transparency of carbon credits. In the absence of these measures, there is a real risk that voluntary carbon markets slow progress towards Net Zero or damage other priorities such as climate adaptation and biodiversity. We make three broad recommendations: 1. Encourage businesses to support high integrity nature-based and biological solutions and engineered removals, while focussing on achieving direct business emissions reduction. 2. Continue efforts to protect and raise the integrity of carbon credit projects, in the UK and globally, and to ensure voluntary carbon markets are resulting in lower overall global emissions and positive wider impacts. 3. Support the modest but useful role voluntary carbon markets can play in the UK Net Zero pathway, in tandem with other measures. 3. Supporting information, charts and data Voluntary Carbon Markets and Offsetting – Charts and data (XLSX • 305KB)https://www.theccc.org.uk/wp-content/uploads/2022/10/Voluntary-Carbon-Markets-and-Offsetting-Charts-and-data.xlsx Voluntary Carbon Markets and Offsetting     European airlines misleading customers with claims of “carbon-neutral” flights – study October 10, 2022 (Carbon Market Watch) By Gemma Bowcock A new study commissioned by Carbon Market Watch has revealed gaping holes in the effectiveness of voluntary climate action taken by eight major European airlines. Misleading claims of “carbon neutral” flying, a dependence on poor quality carbon offsets and the low cost of a tonne of CO2 that customers can pay to offset are just a few o

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