A global initiative designed to grow the voluntary carbon market outlined standards that it hopes will bring transparency to the USD2bn market, which has struggled for credibility. The Integrity Council for the Voluntary Carbon Market (ICVCM), an independent governance body for the market, released the guidance to help what is currently an unregulated, voluntary market with many different standards and approaches. Demand for carbon offsets, generated through projects such as tree planting or using cleaner cooking fuel, is expected to grow as companies seek to use the credits to help meet net-zero emissions goals.

Source: Reuters