New Carbon Standard Brings Integrity and Transparency to Carbon Offsets

New Carbon Standard Brings Integrity and Transparency to Carbon Offsets

The Climate Group, the International Emissions Trading Association and the World Business Council for Sustainable Development launched a new global carbon offset standard at the London Stock Exchange to increase participation and confidence in the global voluntary carbon market.

The Voluntary Carbon Standard (VCS) provides a quality assurance check for voluntary offset projects. The existence of an international standard should lead to more investment into credible offset projects and emissions reductions, according to the World Business Council for Sustainable Development.

"The Voluntary Carbon Standard means business and consumer buyers can now trust the offsets they buy," said Mark Kenber, policy director of The Climate Group and co-chair of the VCS Steering Committee.

Market analysts estimate annual transactions in the voluntary carbon market could reach $4 billion in the next five years, an increase that will be made possible by the VCS.

Guarantees made about the VCS include: certified offsets will have environmental benefits, the VCS will stimulate greater innovation and investment in a wider range of low-carbon technologies without compromising environmental integrity, and the public will be able to access information on every VCS-approved offset project.

The VCS was born out of a two-year consultation among business, government and non-government organizations, led by The Climate Group, the International Emissions Trading Association and the World Business Council for Sustainable Development.

Visit the Voluntary Carbon Standard website for more details.
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