UK Strengthens Integrity in Voluntary Carbon Markets for Climate Goals

The Voluntary Carbon Markets Integrity Initiative (VCMI) welcomes the UK Government’s consultation launch to strengthen voluntary carbon and nature markets.

• The consultation proposes adoption of VCMI’s voluntary standards as best practice to enhance market integrity and scale climate finance.
• VCMI’s Claims Code of Practice is recognized by the UK Government as critical for market integrity.
• The focus is on tackling corporate scope 3 greenhouse gas emissions, which often represent the largest and most challenging emission source in companies’ value chains.
• The UK Government is exploring high-integrity carbon credits as a tool to address unabated scope 3 emissions.
• VCMI will publish its Scope 3 Action Code of Practice to guide companies on this issue.
  This initiative aims to clarify best practices and scale finance for climate action especially in emerging markets and developing economies.