In May 2024, the Biden-Harris administration recognised the potential of carbon credits to support decarbonization efforts, both within the US and globally. This includes emission reduction and removal as well as delivering co-benefits for people and biodiversity. This 12-page statement shares a series of principles for voluntary carbon markets and provides an overview of the state of the market until 2024.
Published in May 2024, Ecosystem Marketplace’s annual state of the voluntary carbon report provides an overview of dynamics in the voluntary carbon market. Drawing on interviews with project developers and credit resellers, it is relevant to those operating in both the supply and the demand sides of the market.
This research from IETA and AlliedOffsets investigates corporate demand for carbon credits and their potential to help mitigate greenhouse gas emissions. Published in April 2024, it revealed that 81% of companies have not yet set climate targets, highlighting the need to focus criticism and attention on the laggards, not the leaders, of climate action. Those companies that have set targets have exceeded emission reduction goals by an average of 26% for Scope 1 and 2.
Published in April 2024, IETA’s guidelines are designed to help companies incorporate carbon credits into their decarbonisation strategies with integrity. As well as its six specific recommendations, these guidelines contain a useful comparison of the different guidances currently available to companies.
This nature tech report from GSMA can be used by corporates looking to monitor and assess impact. Published in April 2024, it outlines current technologies being deployed including satellites, GIS, UAVs, bioacoustics, mobile apps, AI, blockchain, eDNA and the Internet of Things. It explores how mobile and digital technologies are addressing biodiversity loss in LMICs and the potential for biodiversity business models.
What’s preventing corporates from investing in carbon credits? Produced by We Mean Business, Intercontinental Exchange (ICE) and Bain & Company, this report found that many companies would be willing to double their carbon credit investments if doing so was more rewarded and recognised. Published in March 2024, it revealed that 71% of companies find engaging with the voluntary carbon market allows them to decarbonise more and 51% said that the money they invest in carbon credits would be reabsorbed if it wasn’t used for this purpose.
This report was produced by FAO, UNDP, UNEP and UN-REDD+ in March 2024. It contains a series of case studies from Africa, Asia, the Pacific, Latin America and the Caribbean to help REDD+ projects learn about land rights and tenure. REDD+ programmes should not solely link benefits to ownership because sometimes land rights are not formalised. In these instances, it should be linked to participation in programme activities.
S&P Global offer an overview of carbon credit issuances and retirements until February 2024 in its March 2024 report. Following indecision on Article 6 at COP28 in 2023, it predicts a new era of maturity for the voluntary carbon market. It also discusses the compliance market, predicting that it will experience growth in 2024.
Published in February 2024, this white paper from Sylvera discusses the possible convergence of voluntary carbon markets with compliance carbon markets. Sylvera considers the different opportunities convergence would bring, including greater efficiency, higher quality and more innovation.
Published in February 2024, this resource is Ideal for those overwhelmed by the volume of guidance for corporates in the voluntary carbon market. Climate Impact Partners has reviewed all the requirements and collected them in one, easy-to-navigate document to help corporates make high-integrity claims with confidence.