A carbon credit is a unit of carbon equivalent that is either removed or avoided from the atmosphere according to a set of protocols determined by either regulators or third party registries.
In 2018, Verra, which manages the leading global program for the certification of GHG emission reduction projects, approved a voluntary carbon credit methodology for EV charging systems. The Verra methodology encourages further investment in EV charging infrastructure, which could be a catalyst for wider EV adoption.
Historically, it has been difficult for buyers and sellers to connect to execute a transaction in the voluntary carbon markets due to a lack of market infrastructure.
Its goals are improving transparency of voluntary carbon market transactions, increasing market efficiency, providing a trusted platform on which to settle transactions and allowing stakeholders to assess the quality of credits available.
Carbon credits are an additional tool which can help to achieve our climate ambition because ultimately, we all have an important role to play in tackling the climate emergency.