A standard to assess companies' claims about progress towards internal climate targets and their use of carbon offset credits was launched by a global initiative seeking to bring transparency and confidence to an unregulated market. Many companies have set net zero emission targets but acknowledge they will need to buy or generate carbon credits to offset emissions they are unable to eliminate from their operations. The Claims Code of Practice launched by the Voluntary Carbon Markets Integrity Initiative (VCMI), backed by the British government, seeks to help investors establish whether claims made by companies using carbon offsets are credible.

Source: Reuters