The Carbon Market Institute has welcomed the release of a new international code of practice on carbon credits integrity.
The Voluntary Carbon Markets Integrity Initiative (VCMI) released its Claims Code of Practice overnight.
The Claims Code enables companies around the world to understand how they can use carbon credits in their climate strategies in a way that is accepted by investors, governments, consumers, and non-government organisations.
“The VCMI Claims Code provides clear requirements, recommendations and guidance to businesses and other organisations on when they can credibly make voluntary use of carbon credits,” said the Carbon Market Institute’s acting chief executive Kurt Winter.
“It also provides guidance on the claims those businesses and organisations can make about their use of carbon credits,” he said.
“The Carbon Market Institute strongly supports the VCMI’s goal of ensuring that voluntary carbon markets make a significant and meaningful contribution to climate action and sustainable development,” Winter said.
“The Code is a ground-breaking contribution to the task of strengthening public confidence in voluntary carbon markets, and deepening understanding of the important role voluntary markets can play in delivering science-aligned decarbonisation action,” he said.
Winter said the Carbon Market Institute had been involved in consultations on the development of the Code and would contribute its views to the VCMI, including through participation in the VCMI’s formal Stakeholder Forum, as it develops associated supporting materials and seeks to maximise adoption of the Code.
The Claims Code is available here.
About the Carbon Market Institute
The Carbon Market Institute (CMI) is a member-based institute accelerating the transition towards a negative emissions, nature positive world. It champions best practice in carbon markets and climate policy, and its over 150 members include primary producers, carbon project developers, Indigenous organisations, legal, technology and advisory services, insurers, banks, investors, corporate entities and emission intensive industries. The positions put forward constitute CMI’s independent view and do not purport to represent any CMI individual, member company, or industry sector.
For further information, contact Kurt Winter, Director Corporate Transition, Acting CMI Chief Executive
+61 424 320 909