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Is voluntary carbon market moving toward version 2.0?

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By illuminem briefings

· 2 min read

illuminem summarizes for you the essential news of the day. Read the full piece on Carbon Credits or enjoy below:

🗞️ Driving the news: According to Calyx Global, the voluntary carbon market (VCM) is showing signs of improved integrity
• Their report highlights efforts to enhance the quality of carbon credits, though high-quality credits remain rare due to the prevalence of large-scale projects with lower ratings

🔭 The context: The analysis includes ratings of over 500 projects, revealing that the VCM is maturing but still struggles with quality
• High-rated credits are scarce, particularly from mega-projects like REDD+ and large-scale renewable energy initiatives

🌍 Why it matters for the planet: Improved carbon credit quality is essential for restoring market confidence and ensuring effective climate change mitigation
• Higher integrity credits can lead to more impactful climate actions by companies

⏭️ What's next: Continued efforts are needed to phase out low-quality credits and fully integrate new quality standards
• The shift towards higher-quality credits is slow but necessary for the VCM’s evolution towards version 2.0

💬 One quote: “The quicker we improve carbon credit quality and restore confidence, the more effective companies can be at addressing climate change.” — Donna Lee, Co-founder of Calyx Global

📈 One stat: Only about 20% of credits issued in the past five years fall into the top half of Calyx Global’s rating scale (C+ and above)

Click for more news covering the latest on carbon markets

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