This report was developed by the Taskforce on Scaling Voluntary Carbon Markets, drawing on multiple sources, including a research collaboration with McKinsey & Company, which is providing knowledge and advisory support to the IIF. The Taskforce is responsible for the conclusions and recommendations of the research. Members of the Taskforce on Scaling Voluntary Carbon Markets provided insights across their particular fields of expertise. The findings in this report do not necessarily reflect the views of individual Taskforce members or contributors.

Carbon credits cannot be used for offsetting emissions instead of reducing emissions within corporate value chains, or for making ‘carbon neutral’ claims, under the Voluntary Carbon Markets Integrity Initiative (VCMI)’s Claims Code.

Instead, companies can use carbon credits to go “above and beyond” the decarbonisation of activities in their own value chain to “further contribute” to cutting emissions, said Ana Carolina Szklo, technical director at VCMI.

The Carbon Pricing Dashboard is maintained by the World Bank Group with the help of ICAP.

This interactive tool complements World Bank Group activities to advance well-designed carbon pricing systems around the world:

This report presents what is the first systematic analysis of significant emitters, looking at the robustness of net zero pledges as well as their scope. It looks for evidence that entities have components of a credible plan in place, such as interim targets, a reporting mechanism and clarity on use of offsets; it does not assess whether such plans are internally coherent nor compatible with a global trajectory to the 1.5°C Paris Agreement target.12 This report is an ‘opening snapshot’ that will allow the anticipated strengthening of net zero targets to be tracked over time.

This report provides an up-to-date overview of existing and emerging carbon pricing instruments around the world, including international, national and subnational initiatives. It also investigates trends surrounding the development and implementation of carbon pricing instruments and some of the drivers seen over the past year. Specifically, this includes the use of carbon taxes, emissions trading systems, and crediting mechanisms.

Published in August 2022, the report The Art of Integrity: The State of the Voluntary Carbon Markets, Q3 Insights Briefing, conducted by the NPO Ecosystem Marketplace, a Forest Trends’ initiative, provides an overview of the Voluntary Carbon Market (VCM) at the global level. It details and analyzes the various elements leading the expansion of this market currently peaking at $2Bn in December 2021.

This webpage provides the Decision 7/CMA.4, Guidance on the mechanism established by Article 6, paragraph 4, of the Paris Agreement.

This webpage provides the Decision 6/CMA.4, Matters relating to cooperative approaches referred to in Article 6, paragraph 2, of the Paris Agreement.

This webpage provides the Decision 3/CMA.3, Rules, modalities and procedures for the mechanism established by Article 6, paragraph 4, of the Paris Agreement

This webpage provides the Decision 2/CMA.3, Guidance on cooperative approaches referred to in Article 6, paragraph 2, of the Paris Agreement.