The Voluntary Carbon Market (VCM) can be an important tool for leveraging private capital to fund climate action, but its complex landscape is hard to navigate. Employing a multi-method approach that combines desktop research with insights from interviews and roundtable discussions, this new paper explores the challenges, risks, and benefits related to the VCM. It puts a particular focus on assisting governments, especially in developing countries, in their decision-making processes, highlighting the imperative for governance tailored to the unique national contexts. The findings suggest that increased transparency and collaboration among stakeholders, an improved balance between government interventions and industry-led initiatives, and financial and technical support from developed countries are needed.
Kreibich, N; Eickhold, F.; Schulze-Steinen, M.; Melcher, L. (2024): VCM Host Country Perspective - Addressing risks and securing benefits of engaging on the voluntary carbon market. Wuppertal Institute for Climate, Environment and Energy. 57 pages. www.carbon-mechanisms.de//vcm-host-country-perspective.
Date:
July 2024
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