Chaos In Voluntary Carbon Markets Will Either Doom Or Change Them

Chaos In Voluntary Carbon Markets Will Either Doom Or Change Them

Share to Linkedin Smoke pours out of a factory in Copsa Mica, Romania. The billowing, carcinogenic black clouds of ... [+] carbon black, used for dyes and tires, pollutes and poisons the enviroment and contributes to global warming. (Photo by ANDREW HOLBROOKE/Corbis via Getty Images) An international body representing the voluntary carbon market is suggesting to its members that they should oppose sovereign carbon credits created under the Paris climate agreement. Its reason: Corporations are faster than countries in the race to meet climate targets. The rough draft — The Evolving Voluntary Carbon Market and leaked to this reporter — says the voluntary carbon market is the most viable means to meet net-zero goals. But the International Emissions Trading Association misses the point at best and is deceptive at worst. Sovereign carbon credits created under the Paris agreement are an existential threat to the voluntary market, which does not want to undergo the same level of oversight. "The voluntary carbon market could be the primary mechanism to address any gap in corporates missing their science-based interim targets, which will occur as the market experiences unplanned shocks, as we have seen by the Ukraine war and the consequential increase in the