23 June 2021, 23:00:00
Governing Voluntary Carbon Markets: Enhancing the ability of the TSVCM to contribute to climate
The Taskforce for Scaling the Voluntary Carbon Market (TSVCM) was established to create the conditions for the Voluntary Carbon Market to grow rapidly and so massively expand the flow of private finance to emissions reduction activities around the world and accelerate the transition to a Net Zero Economy. This is essential if we are to avoid the most dangerous potential climate change impacts and protect natural environments and the Taskforce is to be commended for the progress it has made to date.
As this process draws to its conclusion, we believe the Taskforce’s proposals can be strengthened by additions to the Mandate and Terms of Reference of the Governance Body. Our suggestions, set out in this note and co-developed with Climate Advisers, will help build trust in the Voluntary Carbon Market, strengthen its governance so it is best able to meet the challenges that lie ahead and so ensure that the work of the Taskforce achieves the success it deserves.