New quality standards for the $2bn carbon offsetting industry have been published to help guide buyers to high-quality credits following widespread concern that many are just hot air.Integrity Council for the Voluntary Carbon Market
To get the ICVCM stamp of approval, carbon credit certifiers such as Verra, Gold Standard and the American Carbon Registry will have to demonstrate how their credits were generated, show they are genuine emission reductions or removals with scientific methods, and adhere to rules on respecting the rights of indigenous and local communities.of carbon offsetting firms, indigenous representatives, banks, scientists and other experts.
Economist Nat Keohane, who is president of the Center for Climate and Energy Solutions and a senior adviser for the ICVCM, said the standards should help to improve trust in the market and channel billions of dollars to projects that help mitigate climate change. “The role of the integrity councils is to say what good looks like and we’re going to let the chips fall where they may. We are going to do it in a way that listens to all stakeholders and takes into account feasibility, but we are going to come out with what high integrity looks like,” said Keohane.a separate process going on to develop guidelines for the claims that