LoCI Controls, Inc.’s Post

The Biden-Harris Administration has released new Principles for Responsible Participation in Voluntary Carbon Markets (VCMs), aimed at advancing high-integrity VCMs that spur climate action and economic growth. According to the source, challenges like unreliable crediting methodologies have hindered market effectiveness, prompting a call for ensuring carbon credits meet credible standards, avoiding harm, and promoting transparency. Corporate buyers are urged to prioritize emissions reductions, and market participants encouraged to improve integrity. These principles aim to strengthen VCMs, restore confidence, and ensure they fulfill their climate goals effectively. Review the source for a better perspective: https://lnkd.in/e2w2U4-y

📢 Exciting News from the White House 📢 This week the Biden-Harris Administration announced new principles to ensure high integrity in voluntary carbon markets: https://hubs.la/Q02z69ms0 These principles focus on transparency, real decarbonization, and fair practices— reinforcing the need for robust and credible carbon credits. This initiative aims to boost confidence in the voluntary carbon markets after the battering they have taken in the media in recent years and ensure they effectively contribute to climate goals and provide the economic benefits they claim. 🌍 At Climate Vault, we applaud this new initiative. Since our inception, our commitment to transparent, verifiable, and high-quality climate action has been a cornerstone of our methodology and climate solutions. We were formed out of our Co- Founder Michael Greenstone's frustration over the inability of the voluntary carbon markets to deliver on their promised results time and time again. Our approach to carbon measurement, reduction + removal aligns perfectly with the new standards released by the White House, and we look forward to witnessing the meaningful climate impact and economic opportunities that arise from this week's announcement. #ClimateAction #CarbonMarkets #Sustainability #HighIntegrity

Last month, the US Government announced their approach to advancing high-integrity Voluntary Carbon Markets as part of broader plans to drive climate action and economic opportunity. A significant development, the announcement of these new principles highlights how VCMs are increasingly being recognised as beneficial to wider strategies to combat climate change, as long as a robust market is established and reliable, high-integrity credits are connected to credible buyers and environmental integrity is prioritised. Read the full fact sheet here: https://lnkd.in/e2w2U4-y #ClimateChange #Sustainability #ESG #VoluntaryCarbonMarkets

This morning, the federal government announced its commitment to seven principles for a high-integrity voluntary carbon market (VCM) and to the pivotal role that a high-integrity, efficient VCM could play in scaling decarbonization strategies, empowering local communities, and protecting critical ecosystems. These principles, supported by Treasury Secretary Janet Yellen, Agriculture Secretary Tom Vilsack, Energy Secretary Jennifer Granholm, Senior Advisor for International Climate Policy John Podesta, National Economic Advisor Lael Brainard, and National Climate Advisor Ali Zaidi are aligned with emerging best practices on carbon market integrity and quality, and will serve as the US government’s cohesive vision and standard for the VCM moving forward. The Carbon Markets team at RMI has been working tirelessly to increase trust and transparency in the VCM for several years. We are currently developing a data framework for carbon credit transparency and a buyer’s guide to identify high-quality data and carbon credits. These tools aim to ensure all data about carbon credit performance – namely, their verified emissions, community, and ecosystem impact and benefits – can be more accessible, digested, and useful to guide decisions. Today’s statement bolsters this work by creating a governance landscape that shares an emphasis on VCM data integrity and verified climate outcomes. We are excited to share more about the data framework and buyer’s guide in the coming months! RMI recognizes the scientific consensus that carbon removal and credits will likely be needed, alongside rapid and sustained emissions reductions, to avoid the worst outcomes of climate change. Today’s announcement is a positive step towards the critical financing mechanisms that will ensure we can scale the solutions we need for carbon removal and decarbonization. Access today’s press release below and learn more about RMI’s work in the carbon markets space by visiting bit.ly/RMICarbonMarkets. https://lnkd.in/e2w2U4-y

Important news on the global carbon markets this morning... The White House announced new guidelines for ensuring the integrity of carbon offsets. While these are in line with what industry leaders like The Integrity Council for the Voluntary Carbon Market (ICVCM) have been saying, the backing of the USG is meaningful. The carbon markets need to ramp given the warming and weather trends. As the WH statement says, "High-integrity, well-functioning VCMs [voluntary carbon markets] can accelerate decarbonization in several ways. VCMs can deliver steady, reliable revenue streams to a range of decarbonization projects, programs, and practices, including nature-based solutions and innovative climate technologies that scale up carbon removal. VCMs can also deliver important co-benefits both here at home and abroad, including supporting economic development..." https://lnkd.in/eyKtP-WQ