The voluntary carbon markets emissions1.
with domestic or international emissions reduction regimes.
carbon dioxide equivalent . 15 projects and issued 74 MtCO2e in credits.
The rapid growth in the VCMs will accelerate in the coming years, especially as more companies announce Net Zero commitments.
The value of the voluntary markets is estimated to grow in parallel to this demand.
Such a rapid scaling of the VCMs will present challenges.
accounting books.
Another challenge in scaling the VCMs is how to get enough high-quality credits to market in time to meet demand. of the CDM, the system was flooded with new offset projects.
validators, even some of the project developers.
credits more efficiently than the CDM did in its first few years.
Companies looking to acquire only carbon removal credits may face greater procurement challenges.
into market.
Promising efforts are underway to harmonize and scale up the currently fragmented VCMs to address growing demand. could be priced based on the underlying attributes.
5.
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