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Crystal world globe laying on miss surface

Denmark’s unprecedented carbon removals fund has facilitated the coexistence of corporate and national carbon claims in carbon accounting.

By Jean-Philippe Brisson, Paul A. Davies, Lars Kjølbye, John-Patrick Sweny, and Qingyi Pan

In the past few years, stakeholders in the carbon market have debated how to integrate the voluntary carbon market (VCM) and the emerging international carbon market governed by the Paris Agreement — Denmark’s recent move to allow stacking of voluntary carbon credits and nationally determined…

Coastal Temperate Rain Forest

The joint policy statement and principles provide integrity standards for carbon credits that both the US government and participants in the voluntary carbon market should aim to follow.

By Jean-Philippe Brisson, Michael Dreibelbis, Tal Carmeli, and Phil Goldberg

On May 28, 2024, the Biden Administration released the Voluntary Carbon Markets Joint Policy Statement and Principles for Responsible Participation in Voluntary Carbon Markets (the VCM Policy). The VCM Policy is co-signed by US Secretary of the Treasury Janet Yellen, US Secretary of Agriculture Tom Vilsack, US Secretary of Energy Jennifer Granholm, International Climate Policy Senior Advisor John Podesta, National Economic Advisor Lael Brainard, and National Climate Advisor Ali Zaidi.

The VCM Policy represents the executive branch of the US government’s position with respect to the role of the voluntary carbon market (VCM) in supporting decarbonization efforts in the United States and globally. This announcement is significant and timely because it was released at a time when some have questioned whether voluntary carbon credits are an appropriate tool for reducing greenhouse gas (GHG) emissions.

The draft New Measure aims to enhance the environmental integrity of China’s carbon market by introducing new requirements for project registration and credit issuance.

By Paul A. Davies, Jean-Philippe Brisson, Michael Dreibelbis, and Qingyi Pan

China is preparing to relaunch its carbon credits program, the Chinese Certified Emission Reduction (CCER) Scheme, after suspending the program for over six years. On July 7, 2023, the Ministry of Ecology and Environment (MEE) and the State Administration for Market Regulation (SAMR) of the People’s Republic of China jointly released the draft Measure for the Administration of Voluntary Emission Reduction Trading (the New Measure).

The public consultation for the draft New Measure ended on August 6, 2023, and on September 15, 2023, the MEE ministry conference reviewed and passed the New Measure in principle. The formal release is expected to happen in October 2023, upon which the New Measure would replace the previous set of rules and become the governing law of the CCER Scheme.

Together with the national emission trading scheme (the China ETS) launched two years ago, the CCER Scheme represents China’s continuous efforts towards adopting market-based mechanisms for achieving its climate pledges (peaking emissions before 2030 and reaching carbon neutrality before 2060).[i]