The voluntary carbon market (VCM) has been criticized for its lack of integrity and transparency, causing many to lose faith in its potential impact on carbon emissions. However, the VCM remains an essential tool in the fight against climate change, and there are ways to improve its credibility. Firstly, companies should shift from carbon neutrality to measured climate impact and focus on reducing emissions at their source while investing in climate actions to balance out residual emissions. Secondly, there needs to be higher standards, consistency, and regulation across the market, with the Integrity Council for the VCM releasing its Core Carbon Principles and Assessment Framework to ensure high-integrity carbon credits that are credible and trustworthy. Thirdly, scaling technologies that improve the accuracy and credibility of VCM claims, such as digital monitoring, reporting, and verification software, are essential. Lastly, actors across the sector need a good dose of humility to acknowledge the VCM’s flaws and focus on continuing to improve the market’s credibility and impact. By implementing these changes, the VCM can be used to channel funding towards much-needed climate-impact initiatives, including those that struggle to access finance or do not fall within a company’s supply chains. It is essential to maintain a continuous-improvement mindset, focus on impact, and follow a science-based approach.
The groundbreaking net zero school in the UK reaches its highest point of construction.
Construction firm Morgan Sindall has held a "topping out" ceremony at the Buntingford First School in Hertfordshire, which is set...