Experts are divided on what constitute genuine carbon reductions
Task force faces huge task to legitimise VCM
Private sector faces tough goal of bringing together stakeholders to give structure to the voluntary carbon market
Efforts to give structure to the global voluntary carbon market (VCM) have stepped up in the last fortnight as hundreds of experts have begun work to develop market governance, quality assurance and legal underpinning for the $1.5bn/yr trade. Offsets represent emissions reduced or avoided compared with a preset baseline and have been used for more than 20 years to neutralise emissions made elsewhere. For more than a decade, the VCM trade has been self-regulated by its private sector participants, rather than any single entity or government. As a result, transactions are mostly bilateral, while clients carry out lengthy due diligence on proposed offsets to ensure they meet relevant criteria.
Also in this section
11 November 2025
Transition policies must recognise that significant industrial demand for carbon will continue even as economies hit net zero
6 November 2025
After years of pursuing ideologically driven climate leadership, Western powers are now stepping back under mounting political pressure and rising populist opposition—prompting concern essential climate action could be sidelined
17 October 2025
The business case for CCS is strengthening as costs decline, but deployment must accelerate to align with credible net-zero scenarios
17 October 2025
The black-tie gala recognised the energy industry’s leading innovations and thought leaders from across the value chain
