Carbon Offsets Daily: When do you think the domestic voluntary carbon market will become a
compliance market and how will that change affect the environment?
: We think that the voluntary market will continue to thrive and flourish
as a necessary complement to the regulated market. We cannot see how
developed and developing economies will be able to track a
stabilization curve for global greenhouse gas emissions without a
vibrant voluntary market to fill the gap between regulated reductions
and those required for a stabilized climate.
That said, it is for the voluntary market to rise to this considerable
challenge. That means that we need to see voluntary action move from
tens of millions to gigatonnes of offsets per year, if this solution is
to play its rightful role. The voluntary market will need new
governance structures to ensure that it is able to step up to this
scale of activity. We believe the industry needs to be accountable to
the highest standards through well-developed self-governance processes
which are open and transparent. The standards for offsets used in
voluntary programmes is also an important area, and we expect that
regulated carbon credits (such as CERs created under and other national and state equivalents) and
those created under credible standards such as the Voluntary Carbon
Standard and the will dominate voluntary programmes.
With sound governance, credible offset instruments, and businesses and
consumers ready to play their part in material and urgent GHG
reductions, we see a substantial role for the voluntary market for
decades to come.
Sharon Corrigan
PR Manager
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