The Voluntary Carbon Markets Integrity Initiative (VCMI), a global task force initiated to monitor the integrity of voluntary markets for the purchase and sale of carbon offset credits, held a global launch event and issued its consultation report (VCMI Report) in late July. The VCMI Report seeks to provide further guidance for assessing carbon credits and the emissions reductions they represent.

In a related statement, John Kerry, the US special presidential envoy for climate, praised the VCMI principles: “We welcome the VCMI’s focus on clear norms for companies to use high-quality carbon credits, including toward their net zero targets in a way that is credible, transparent, and aligned with the goal to limit global warming to 1.5 degrees.”

Continue reading on for more detail on the VCMI Report.