In this newsletter, we reflect on COP26 in Glasgow, specifically on the now-finalized international rules for Article 6 of the Paris Agreement and what they mean for voluntary carbon markets. We welcome the adoption – finally – of international rules for the operation of Article 6 of the Paris Agreement, which confirm our understanding that the voluntary market will not be regulated under Article 6. Read our full COP26 reflections on our website. Also, please join us for a COP26 Debrief Webinar on Monday, 22 November, 9:00 am – 10:00 am EST.
Glasgow also featured a well-attended event to celebrate the Voluntary Carbon Markets Global Dialogue (VCM-GD), which Verra initiated earlier this year with the aim of bringing the voices of developing countries to the center of discussions about the future of voluntary carbon markets. The final report contains a six-point action agenda that will provide a robust platform for future work:
- Governments can use the VCM to tap into additional mitigation potentials;
- Governments, companies, and GHG crediting programs should promote clear and transparent VCM accounting;
- Carbon credit buyers and investors should prioritize transformational VCM investments with broader development benefits and verified SDG contributions;
- The VCM can empower and strengthen the rights of Indigenous Peoples and Local Communities;
- Governments and private partners should cooperate in developing VCM transactions at sectoral and jurisdictional scales;
- Governments, companies, and carbon market facilitators should initiate regional and national VCM dialogues.
Please read on for more Verra updates below.
The Verra Team
- Verra Releases Version 4 of the Verra Registry
- Webinar: Proposed Updates to AFOLU Project Baseline Requirements under the VCS Program
- Verified Carbon Standard (VCS) Program – Public Consultation
- Video: The VCS Program as Catalyst for Natural Climate Solutions