Bill Spindle of Cipher reports on the carbon credit industry.
- Carbon markets have come under scrutiny after several projects were found to overestimate their emissions abatement and mislead investors.
- Despite this, lawmakers and the private sector remain bullish on carbon markets.
- The Biden administration recently released guidelines for “high quality” carbon credits and the Integrity Council for the Voluntary Carbon Market has issued a new set of what it calls Core Carbon Principles that high quality projects must follow to get its stamp of approval.
“Supporters of using carbon credits, which include influential climate advocacy groups such as the Bezos Earth Fund, the Rockefeller Foundation and multinational banks tasked with financing economic development, say the two-year long effort to improve standards can make these credits a key source of desperately needed funds for decarbonization efforts in Africa, Latin America and South and Southeast Asia.”
Read the full article here.
The views and opinions expressed are those of the author’s and do not necessarily reflect the official policy or position of C3.
