This resource from The Nature Conservancy is perfect for those looking to familiarize themselves with Article 6 of the Paris Agreement. Published in February 2024, it contains a useful graphic to explain Article 6.2, Article 6.4 and Article 6.8. It also discusses the outcomes of COP28 in Dubai in 2023 and what these decisions mean for the voluntary carbon market.
This report draws upon SBTi research to consider the barriers and incentives for private sector adoption of Beyond Value Chain Mitigation (BVCM). Published in February 2024, it proposes a toolbox for accelerating corporate adoption and implementation and sets out recommendations for different actors.
This report from the SBTi explores the business case for companies to adopt Beyond Value Chain Mitigation (BVCM) and describes the suggested steps involved in making a BVCM pledge. Published in February 2024, it also provides illustrative examples to show how companies in a range of sectors might implement BVCM in line with the suggestions provided.
Abatable’s report contains informative visuals to communicate the landscape for project developers in 2023. Published in February 2024, it predicts that the market will move at two speeds during 2024 with project developers at different stages with respect to Corsia and Article 6. It also expects project developers will start to diversify their pipelines and start to collaborate for corresponding adjustments.
Published in February 2024 by the University of Oxford, these revisions to the 2020 Oxford Principles call for a ‘course correct’ for the VCM. It states that ‘current approaches are unlikely to deliver the level of emissions reduction needed to achieve global climate goals. NOTE: Despite the strong call to scale action, the Principles are supportive and clear. It says that each credit type offers different co-benefits and has a unique role to play in decarbonisation. The world needs avoidance and removal, just as it needs both nature and tech.
This paper was published in January 2024 in Nature Communications. It addresses natural climate solutions and how they will benefit corporates as they assess potential carbon credit projects. It outlines five principles that will help leaders define, implement, and measure effective natural climate solutions. It is highly recommended reading for those buying from and investing in, NCS projects.
The resource from the Cambridge Institute for Sustainability Leadership (CISL) highlights the importance of private finance in climate and nature solutions. Published in November 2023, it suggests that directing funding to nature-based solutions is currently more cost-effective than investing in tech-based solutions. However, it notes that financing for nature currently lags behind finance for climate.
This report, published by MSCI in November 2023, considers the impact of allowing companies to meet their science-based emission reduction targets using carbon credits. Using detailed modelling, it shows how carbon credits can help those companies who are already on track to meet their emission reduction targets. If just these companies used credits, it would rapidly scale demand.
This report from MSCI finds that companies using carbon credits decarbonise on average twice as fast as those that do not use carbon credits. Published in June 2023, this finding is based on the emissions data of 4,156 companies over five years. It revealed a statistically significant trend that companies using a material amount of carbon credits reduce emissions faster than those that do not. Companies using higher integrity credits were found to be cutting their emissions quicker than those with low integrity credits.
The voluntary carbon market is not just about carbon. It’s also about people, biodiversity and nature. In this whitepaper, the Compensate Foundation explains non-offset claims such as beyond value chain mitigation, climate finance, and insetting. Published in June 2023, it is relevant for corporates looking to distinguish between their offset and non-offset claims and the differing value each offers their businesses.