SlideShare a Scribd company logo

8th Strategic Dialogue of the CMP - Mark Kenber, VCMI

Session 2B presentation from the 8th Strategic Dialogue of the Carbon Market Platform, 23-24 October 2023

1 of 13
Download to read offline
Voluntary Carbon
Markets Integrity
Initiative
Building integrity in voluntary carbon markets
CMP October 23rd 2023
1
About VCMI
@2021 Voluntary Carbon Markets Integrity Initiative 2
• Independent Multi-stakeholder initiative
• Mission: Enable VCMs that deliver for 1.5
1) Guidance for carbon credit buyers
2) Support country access
The VCMI Claims Code - A global and collaborative process
150
responses to the
provisional Code
through public
consultation
~70
companies
road-tested
~20
experts sitting
in our EAG
countries
represented in
our Country
Contact Group
50+ ~70
organisations
represented in
Stakeholder
Forum
Claims Code launched in
June 2023
STEP
ONE
Comply with the
Foundational
Criteria
STEP
TWO
Select a VCMI
Claim to make
STEP
THREE
STEP
FOUR
Meet the carbon
credit use and
quality thresholds
required
Obtain third-party
assurance following
the VCMI MRA
Framework
4 Steps for Making a VCMI Claim
STEP
ONE Comply with the Foundational Criteria
Foundational Criteria:
Maintain and disclose an
annual greenhouse gas
emissions inventory
Set and publicly disclose
validated science-based
near-term emissions
reduction targets, and
publicly commit to reaching
net zero emissions no later
than 2050
Demonstrate that the
company is on-track
towards meeting a near-
term emissions reduction
target and minimizing
cumulative emissions
over the target period
Demonstrate that the
company’s public policy
advocacy supports the goals
of the Paris Agreement
and does not represent a
barrier to ambitious climate
regulation
STEP
TWO Select a VCMI Claim to make
This is the most aspirational tier,
requiring the purchase and
retirement of high-quality carbon
credits equal to at least 100% of
a company`s remaining
emissions once it has made
adequate progress towards
meeting its
near-term targets
This tier is designed to be more
achievable than Platinum but still
requires the purchase and retirement
of a significant volume of high-quality
carbon credits equal to between 60%
and 100% of a company`s remaining
emissions once it has made adequate
progress towards meeting its
near-term targets
SILVER
This is the most accessible tier,
requiring the purchase and
retirement of high-quality carbon
credits equal to between 20%
and 60% of a company`s
remaining emissions once it has
made adequate progress
towards meeting its
near-term targets
GOLD PLATINUM

Recommended

presentation on voluntary carbon market.pptx
presentation on voluntary carbon market.pptxpresentation on voluntary carbon market.pptx
presentation on voluntary carbon market.pptxSahil731850
 
Climate Trust Capital Spotlight
Climate Trust Capital SpotlightClimate Trust Capital Spotlight
Climate Trust Capital SpotlightThe Climate Trust
 
8th Strategic Dialogue of the CMP - Amy Merrill, C2ES (on behalf of ICVCM)
8th Strategic Dialogue of the CMP - Amy Merrill, C2ES (on behalf of ICVCM)8th Strategic Dialogue of the CMP - Amy Merrill, C2ES (on behalf of ICVCM)
8th Strategic Dialogue of the CMP - Amy Merrill, C2ES (on behalf of ICVCM)OECD Environment
 
Cross Whitehall Prosperity Framework | Supplier Engagement
Cross Whitehall Prosperity Framework | Supplier Engagement Cross Whitehall Prosperity Framework | Supplier Engagement
Cross Whitehall Prosperity Framework | Supplier Engagement UKinBrazilNetwork
 
CIF Self Certification MSP Oct15
CIF Self Certification MSP Oct15CIF Self Certification MSP Oct15
CIF Self Certification MSP Oct15Jason Wyatt
 

More Related Content

Similar to 8th Strategic Dialogue of the CMP - Mark Kenber, VCMI

Ontario Cap & Trade - Time is Running Out for Small & Medium Business to Save
Ontario Cap & Trade - Time is Running Out for Small & Medium Business to SaveOntario Cap & Trade - Time is Running Out for Small & Medium Business to Save
Ontario Cap & Trade - Time is Running Out for Small & Medium Business to SaveDuncan Rotherham
 
Ontario Cap & Trade - Time is Running Out for Small & Medium Business to Save
Ontario Cap & Trade - Time is Running Out for Small & Medium Business to SaveOntario Cap & Trade - Time is Running Out for Small & Medium Business to Save
Ontario Cap & Trade - Time is Running Out for Small & Medium Business to SaveSheldon Fernandes, P.Eng., MBA
 
Advance notice amsupplychaininitiativefinal 1
Advance notice amsupplychaininitiativefinal 1Advance notice amsupplychaininitiativefinal 1
Advance notice amsupplychaininitiativefinal 1Dr Lendy Spires
 
Setting Science-based Targets for Apparel, Textiles and Footwear Sectors
Setting Science-based Targets for Apparel, Textiles and Footwear SectorsSetting Science-based Targets for Apparel, Textiles and Footwear Sectors
Setting Science-based Targets for Apparel, Textiles and Footwear SectorsScience Based Targets
 
Quality assurance scheme for offsetting uk gov. 090909-scheme-requirements-...
Quality assurance scheme for offsetting   uk gov. 090909-scheme-requirements-...Quality assurance scheme for offsetting   uk gov. 090909-scheme-requirements-...
Quality assurance scheme for offsetting uk gov. 090909-scheme-requirements-...Ioa Kar
 
How oil and gas companies can respond to unprecedented disruption
How oil and gas companies can respond to unprecedented disruptionHow oil and gas companies can respond to unprecedented disruption
How oil and gas companies can respond to unprecedented disruptionaccenture
 
RR Donnelley November 2015 Regulatory Update
RR Donnelley November 2015 Regulatory UpdateRR Donnelley November 2015 Regulatory Update
RR Donnelley November 2015 Regulatory UpdateRobert McNamara
 
Mba 1 mm-1 u-4.3 international market entry strategies
Mba 1 mm-1 u-4.3 international market entry strategiesMba 1 mm-1 u-4.3 international market entry strategies
Mba 1 mm-1 u-4.3 international market entry strategiesRai University
 
Mba 1 mm-1 u-4.3 international market entry strategies
Mba 1 mm-1 u-4.3 international market entry strategiesMba 1 mm-1 u-4.3 international market entry strategies
Mba 1 mm-1 u-4.3 international market entry strategiesRai University
 
CRTO 101_Mar 2021 (1).pdf
CRTO 101_Mar 2021 (1).pdfCRTO 101_Mar 2021 (1).pdf
CRTO 101_Mar 2021 (1).pdfNaveen Kumar C
 
The Fashion Climate Fund and Climate Solutions Portfolio
The Fashion Climate Fund and Climate Solutions PortfolioThe Fashion Climate Fund and Climate Solutions Portfolio
The Fashion Climate Fund and Climate Solutions Portfolioringoyu2
 
8th Strategic Dialogue of the CMP - Takayuki Shigematsu, Japan
8th Strategic Dialogue of the CMP - Takayuki Shigematsu, Japan8th Strategic Dialogue of the CMP - Takayuki Shigematsu, Japan
8th Strategic Dialogue of the CMP - Takayuki Shigematsu, JapanOECD Environment
 

Similar to 8th Strategic Dialogue of the CMP - Mark Kenber, VCMI (20)

Ontario Cap & Trade - Time is Running Out for Small & Medium Business to Save
Ontario Cap & Trade - Time is Running Out for Small & Medium Business to SaveOntario Cap & Trade - Time is Running Out for Small & Medium Business to Save
Ontario Cap & Trade - Time is Running Out for Small & Medium Business to Save
 
Ontario Cap & Trade - Time is Running Out for Small & Medium Business to Save
Ontario Cap & Trade - Time is Running Out for Small & Medium Business to SaveOntario Cap & Trade - Time is Running Out for Small & Medium Business to Save
Ontario Cap & Trade - Time is Running Out for Small & Medium Business to Save
 
Advance notice amsupplychaininitiativefinal 1
Advance notice amsupplychaininitiativefinal 1Advance notice amsupplychaininitiativefinal 1
Advance notice amsupplychaininitiativefinal 1
 
Setting Science-based Targets for Apparel, Textiles and Footwear Sectors
Setting Science-based Targets for Apparel, Textiles and Footwear SectorsSetting Science-based Targets for Apparel, Textiles and Footwear Sectors
Setting Science-based Targets for Apparel, Textiles and Footwear Sectors
 
Quality assurance scheme for offsetting uk gov. 090909-scheme-requirements-...
Quality assurance scheme for offsetting   uk gov. 090909-scheme-requirements-...Quality assurance scheme for offsetting   uk gov. 090909-scheme-requirements-...
Quality assurance scheme for offsetting uk gov. 090909-scheme-requirements-...
 
How oil and gas companies can respond to unprecedented disruption
How oil and gas companies can respond to unprecedented disruptionHow oil and gas companies can respond to unprecedented disruption
How oil and gas companies can respond to unprecedented disruption
 
RR Donnelley November 2015 Regulatory Update
RR Donnelley November 2015 Regulatory UpdateRR Donnelley November 2015 Regulatory Update
RR Donnelley November 2015 Regulatory Update
 
Mba 1 mm-1 u-4.3 international market entry strategies
Mba 1 mm-1 u-4.3 international market entry strategiesMba 1 mm-1 u-4.3 international market entry strategies
Mba 1 mm-1 u-4.3 international market entry strategies
 
Mba 1 mm-1 u-4.3 international market entry strategies
Mba 1 mm-1 u-4.3 international market entry strategiesMba 1 mm-1 u-4.3 international market entry strategies
Mba 1 mm-1 u-4.3 international market entry strategies
 
Webinar | Compliance ABC - 01042020
Webinar | Compliance ABC - 01042020Webinar | Compliance ABC - 01042020
Webinar | Compliance ABC - 01042020
 
articles-58850_doc_pdf.pdf
articles-58850_doc_pdf.pdfarticles-58850_doc_pdf.pdf
articles-58850_doc_pdf.pdf
 
Climate-newsletter.pdf
Climate-newsletter.pdfClimate-newsletter.pdf
Climate-newsletter.pdf
 
OECD Parliamentary Days 2016 - COP21 Outcomes and implications
OECD Parliamentary Days 2016 - COP21 Outcomes and implicationsOECD Parliamentary Days 2016 - COP21 Outcomes and implications
OECD Parliamentary Days 2016 - COP21 Outcomes and implications
 
CRTO 101_Mar 2021 (1).pdf
CRTO 101_Mar 2021 (1).pdfCRTO 101_Mar 2021 (1).pdf
CRTO 101_Mar 2021 (1).pdf
 
Overview of CDB's new Procurement Framework
Overview of CDB's new Procurement FrameworkOverview of CDB's new Procurement Framework
Overview of CDB's new Procurement Framework
 
The Fashion Climate Fund and Climate Solutions Portfolio
The Fashion Climate Fund and Climate Solutions PortfolioThe Fashion Climate Fund and Climate Solutions Portfolio
The Fashion Climate Fund and Climate Solutions Portfolio
 
GHG Programs in the Compliance and Voluntary Markets
GHG Programs in the Compliance and Voluntary MarketsGHG Programs in the Compliance and Voluntary Markets
GHG Programs in the Compliance and Voluntary Markets
 
8th Strategic Dialogue of the CMP - Takayuki Shigematsu, Japan
8th Strategic Dialogue of the CMP - Takayuki Shigematsu, Japan8th Strategic Dialogue of the CMP - Takayuki Shigematsu, Japan
8th Strategic Dialogue of the CMP - Takayuki Shigematsu, Japan
 
Icsa Guernsey Fiduciary Update Aug 16
Icsa Guernsey Fiduciary Update Aug 16Icsa Guernsey Fiduciary Update Aug 16
Icsa Guernsey Fiduciary Update Aug 16
 
Graham Brogden
Graham BrogdenGraham Brogden
Graham Brogden
 

More from OECD Environment

OECD Global Forum on the Environment dedicated to Per- and Polyfluoroalkyl Su...
OECD Global Forum on the Environment dedicated to Per- and Polyfluoroalkyl Su...OECD Global Forum on the Environment dedicated to Per- and Polyfluoroalkyl Su...
OECD Global Forum on the Environment dedicated to Per- and Polyfluoroalkyl Su...OECD Environment
 
OECD Global Forum on the Environment dedicated to Per- and Polyfluoroalkyl Su...
OECD Global Forum on the Environment dedicated to Per- and Polyfluoroalkyl Su...OECD Global Forum on the Environment dedicated to Per- and Polyfluoroalkyl Su...
OECD Global Forum on the Environment dedicated to Per- and Polyfluoroalkyl Su...OECD Environment
 
OECD Global Forum on the Environment dedicated to Per- and Polyfluoroalkyl Su...
OECD Global Forum on the Environment dedicated to Per- and Polyfluoroalkyl Su...OECD Global Forum on the Environment dedicated to Per- and Polyfluoroalkyl Su...
OECD Global Forum on the Environment dedicated to Per- and Polyfluoroalkyl Su...OECD Environment
 
OECD Global Forum on the Environment dedicated to Per- and Polyfluoroalkyl Su...
OECD Global Forum on the Environment dedicated to Per- and Polyfluoroalkyl Su...OECD Global Forum on the Environment dedicated to Per- and Polyfluoroalkyl Su...
OECD Global Forum on the Environment dedicated to Per- and Polyfluoroalkyl Su...OECD Environment
 
OECD Global Forum on the Environment dedicated to Per- and Polyfluoroalkyl Su...
OECD Global Forum on the Environment dedicated to Per- and Polyfluoroalkyl Su...OECD Global Forum on the Environment dedicated to Per- and Polyfluoroalkyl Su...
OECD Global Forum on the Environment dedicated to Per- and Polyfluoroalkyl Su...OECD Environment
 
OECD Global Forum on the Environment dedicated to Per- and Polyfluoroalkyl Su...
OECD Global Forum on the Environment dedicated to Per- and Polyfluoroalkyl Su...OECD Global Forum on the Environment dedicated to Per- and Polyfluoroalkyl Su...
OECD Global Forum on the Environment dedicated to Per- and Polyfluoroalkyl Su...OECD Environment
 
OECD Global Forum on the Environment dedicated to Per- and Polyfluoroalkyl Su...
OECD Global Forum on the Environment dedicated to Per- and Polyfluoroalkyl Su...OECD Global Forum on the Environment dedicated to Per- and Polyfluoroalkyl Su...
OECD Global Forum on the Environment dedicated to Per- and Polyfluoroalkyl Su...OECD Environment
 
OECD Global Forum on the Environment dedicated to Per- and Polyfluoroalkyl Su...
OECD Global Forum on the Environment dedicated to Per- and Polyfluoroalkyl Su...OECD Global Forum on the Environment dedicated to Per- and Polyfluoroalkyl Su...
OECD Global Forum on the Environment dedicated to Per- and Polyfluoroalkyl Su...OECD Environment
 
OECD Global Forum on the Environment dedicated to Per- and Polyfluoroalkyl Su...
OECD Global Forum on the Environment dedicated to Per- and Polyfluoroalkyl Su...OECD Global Forum on the Environment dedicated to Per- and Polyfluoroalkyl Su...
OECD Global Forum on the Environment dedicated to Per- and Polyfluoroalkyl Su...OECD Environment
 
OECD Global Forum on the Environment dedicated to Per- and Polyfluoroalkyl Su...
OECD Global Forum on the Environment dedicated to Per- and Polyfluoroalkyl Su...OECD Global Forum on the Environment dedicated to Per- and Polyfluoroalkyl Su...
OECD Global Forum on the Environment dedicated to Per- and Polyfluoroalkyl Su...OECD Environment
 
OECD Global Forum on the Environment dedicated to Per- and Polyfluoroalkyl Su...
OECD Global Forum on the Environment dedicated to Per- and Polyfluoroalkyl Su...OECD Global Forum on the Environment dedicated to Per- and Polyfluoroalkyl Su...
OECD Global Forum on the Environment dedicated to Per- and Polyfluoroalkyl Su...OECD Environment
 
OECD Global Forum on the Environment dedicated to Per- and Polyfluoroalkyl Su...
OECD Global Forum on the Environment dedicated to Per- and Polyfluoroalkyl Su...OECD Global Forum on the Environment dedicated to Per- and Polyfluoroalkyl Su...
OECD Global Forum on the Environment dedicated to Per- and Polyfluoroalkyl Su...OECD Environment
 
OECD Global Forum on the Environment dedicated to Per- and Polyfluoroalkyl Su...
OECD Global Forum on the Environment dedicated to Per- and Polyfluoroalkyl Su...OECD Global Forum on the Environment dedicated to Per- and Polyfluoroalkyl Su...
OECD Global Forum on the Environment dedicated to Per- and Polyfluoroalkyl Su...OECD Environment
 
OECD Global Forum on the Environment dedicated to Per- and Polyfluoroalkyl Su...
OECD Global Forum on the Environment dedicated to Per- and Polyfluoroalkyl Su...OECD Global Forum on the Environment dedicated to Per- and Polyfluoroalkyl Su...
OECD Global Forum on the Environment dedicated to Per- and Polyfluoroalkyl Su...OECD Environment
 
OECD Global Forum on the Environment dedicated to Per- and Polyfluoroalkyl Su...
OECD Global Forum on the Environment dedicated to Per- and Polyfluoroalkyl Su...OECD Global Forum on the Environment dedicated to Per- and Polyfluoroalkyl Su...
OECD Global Forum on the Environment dedicated to Per- and Polyfluoroalkyl Su...OECD Environment
 
OECD Global Forum on the Environment dedicated to Per- and Polyfluoroalkyl Su...
OECD Global Forum on the Environment dedicated to Per- and Polyfluoroalkyl Su...OECD Global Forum on the Environment dedicated to Per- and Polyfluoroalkyl Su...
OECD Global Forum on the Environment dedicated to Per- and Polyfluoroalkyl Su...OECD Environment
 
OECD Global Forum on the Environment dedicated to Per- and Polyfluoroalkyl Su...
OECD Global Forum on the Environment dedicated to Per- and Polyfluoroalkyl Su...OECD Global Forum on the Environment dedicated to Per- and Polyfluoroalkyl Su...
OECD Global Forum on the Environment dedicated to Per- and Polyfluoroalkyl Su...OECD Environment
 
OECD Global Forum on the Environment dedicated to Per- and Polyfluoroalkyl Su...
OECD Global Forum on the Environment dedicated to Per- and Polyfluoroalkyl Su...OECD Global Forum on the Environment dedicated to Per- and Polyfluoroalkyl Su...
OECD Global Forum on the Environment dedicated to Per- and Polyfluoroalkyl Su...OECD Environment
 
OECD Global Forum on the Environment dedicated to Per- and Polyfluoroalkyl Su...
OECD Global Forum on the Environment dedicated to Per- and Polyfluoroalkyl Su...OECD Global Forum on the Environment dedicated to Per- and Polyfluoroalkyl Su...
OECD Global Forum on the Environment dedicated to Per- and Polyfluoroalkyl Su...OECD Environment
 
OECD Global Forum on the Environment dedicated to Per- and Polyfluoroalkyl Su...
OECD Global Forum on the Environment dedicated to Per- and Polyfluoroalkyl Su...OECD Global Forum on the Environment dedicated to Per- and Polyfluoroalkyl Su...
OECD Global Forum on the Environment dedicated to Per- and Polyfluoroalkyl Su...OECD Environment
 

More from OECD Environment (20)

OECD Global Forum on the Environment dedicated to Per- and Polyfluoroalkyl Su...
OECD Global Forum on the Environment dedicated to Per- and Polyfluoroalkyl Su...OECD Global Forum on the Environment dedicated to Per- and Polyfluoroalkyl Su...
OECD Global Forum on the Environment dedicated to Per- and Polyfluoroalkyl Su...
 
OECD Global Forum on the Environment dedicated to Per- and Polyfluoroalkyl Su...
OECD Global Forum on the Environment dedicated to Per- and Polyfluoroalkyl Su...OECD Global Forum on the Environment dedicated to Per- and Polyfluoroalkyl Su...
OECD Global Forum on the Environment dedicated to Per- and Polyfluoroalkyl Su...
 
OECD Global Forum on the Environment dedicated to Per- and Polyfluoroalkyl Su...
OECD Global Forum on the Environment dedicated to Per- and Polyfluoroalkyl Su...OECD Global Forum on the Environment dedicated to Per- and Polyfluoroalkyl Su...
OECD Global Forum on the Environment dedicated to Per- and Polyfluoroalkyl Su...
 
OECD Global Forum on the Environment dedicated to Per- and Polyfluoroalkyl Su...
OECD Global Forum on the Environment dedicated to Per- and Polyfluoroalkyl Su...OECD Global Forum on the Environment dedicated to Per- and Polyfluoroalkyl Su...
OECD Global Forum on the Environment dedicated to Per- and Polyfluoroalkyl Su...
 
OECD Global Forum on the Environment dedicated to Per- and Polyfluoroalkyl Su...
OECD Global Forum on the Environment dedicated to Per- and Polyfluoroalkyl Su...OECD Global Forum on the Environment dedicated to Per- and Polyfluoroalkyl Su...
OECD Global Forum on the Environment dedicated to Per- and Polyfluoroalkyl Su...
 
OECD Global Forum on the Environment dedicated to Per- and Polyfluoroalkyl Su...
OECD Global Forum on the Environment dedicated to Per- and Polyfluoroalkyl Su...OECD Global Forum on the Environment dedicated to Per- and Polyfluoroalkyl Su...
OECD Global Forum on the Environment dedicated to Per- and Polyfluoroalkyl Su...
 
OECD Global Forum on the Environment dedicated to Per- and Polyfluoroalkyl Su...
OECD Global Forum on the Environment dedicated to Per- and Polyfluoroalkyl Su...OECD Global Forum on the Environment dedicated to Per- and Polyfluoroalkyl Su...
OECD Global Forum on the Environment dedicated to Per- and Polyfluoroalkyl Su...
 
OECD Global Forum on the Environment dedicated to Per- and Polyfluoroalkyl Su...
OECD Global Forum on the Environment dedicated to Per- and Polyfluoroalkyl Su...OECD Global Forum on the Environment dedicated to Per- and Polyfluoroalkyl Su...
OECD Global Forum on the Environment dedicated to Per- and Polyfluoroalkyl Su...
 
OECD Global Forum on the Environment dedicated to Per- and Polyfluoroalkyl Su...
OECD Global Forum on the Environment dedicated to Per- and Polyfluoroalkyl Su...OECD Global Forum on the Environment dedicated to Per- and Polyfluoroalkyl Su...
OECD Global Forum on the Environment dedicated to Per- and Polyfluoroalkyl Su...
 
OECD Global Forum on the Environment dedicated to Per- and Polyfluoroalkyl Su...
OECD Global Forum on the Environment dedicated to Per- and Polyfluoroalkyl Su...OECD Global Forum on the Environment dedicated to Per- and Polyfluoroalkyl Su...
OECD Global Forum on the Environment dedicated to Per- and Polyfluoroalkyl Su...
 
OECD Global Forum on the Environment dedicated to Per- and Polyfluoroalkyl Su...
OECD Global Forum on the Environment dedicated to Per- and Polyfluoroalkyl Su...OECD Global Forum on the Environment dedicated to Per- and Polyfluoroalkyl Su...
OECD Global Forum on the Environment dedicated to Per- and Polyfluoroalkyl Su...
 
OECD Global Forum on the Environment dedicated to Per- and Polyfluoroalkyl Su...
OECD Global Forum on the Environment dedicated to Per- and Polyfluoroalkyl Su...OECD Global Forum on the Environment dedicated to Per- and Polyfluoroalkyl Su...
OECD Global Forum on the Environment dedicated to Per- and Polyfluoroalkyl Su...
 
OECD Global Forum on the Environment dedicated to Per- and Polyfluoroalkyl Su...
OECD Global Forum on the Environment dedicated to Per- and Polyfluoroalkyl Su...OECD Global Forum on the Environment dedicated to Per- and Polyfluoroalkyl Su...
OECD Global Forum on the Environment dedicated to Per- and Polyfluoroalkyl Su...
 
OECD Global Forum on the Environment dedicated to Per- and Polyfluoroalkyl Su...
OECD Global Forum on the Environment dedicated to Per- and Polyfluoroalkyl Su...OECD Global Forum on the Environment dedicated to Per- and Polyfluoroalkyl Su...
OECD Global Forum on the Environment dedicated to Per- and Polyfluoroalkyl Su...
 
OECD Global Forum on the Environment dedicated to Per- and Polyfluoroalkyl Su...
OECD Global Forum on the Environment dedicated to Per- and Polyfluoroalkyl Su...OECD Global Forum on the Environment dedicated to Per- and Polyfluoroalkyl Su...
OECD Global Forum on the Environment dedicated to Per- and Polyfluoroalkyl Su...
 
OECD Global Forum on the Environment dedicated to Per- and Polyfluoroalkyl Su...
OECD Global Forum on the Environment dedicated to Per- and Polyfluoroalkyl Su...OECD Global Forum on the Environment dedicated to Per- and Polyfluoroalkyl Su...
OECD Global Forum on the Environment dedicated to Per- and Polyfluoroalkyl Su...
 
OECD Global Forum on the Environment dedicated to Per- and Polyfluoroalkyl Su...
OECD Global Forum on the Environment dedicated to Per- and Polyfluoroalkyl Su...OECD Global Forum on the Environment dedicated to Per- and Polyfluoroalkyl Su...
OECD Global Forum on the Environment dedicated to Per- and Polyfluoroalkyl Su...
 
OECD Global Forum on the Environment dedicated to Per- and Polyfluoroalkyl Su...
OECD Global Forum on the Environment dedicated to Per- and Polyfluoroalkyl Su...OECD Global Forum on the Environment dedicated to Per- and Polyfluoroalkyl Su...
OECD Global Forum on the Environment dedicated to Per- and Polyfluoroalkyl Su...
 
OECD Global Forum on the Environment dedicated to Per- and Polyfluoroalkyl Su...
OECD Global Forum on the Environment dedicated to Per- and Polyfluoroalkyl Su...OECD Global Forum on the Environment dedicated to Per- and Polyfluoroalkyl Su...
OECD Global Forum on the Environment dedicated to Per- and Polyfluoroalkyl Su...
 
OECD Global Forum on the Environment dedicated to Per- and Polyfluoroalkyl Su...
OECD Global Forum on the Environment dedicated to Per- and Polyfluoroalkyl Su...OECD Global Forum on the Environment dedicated to Per- and Polyfluoroalkyl Su...
OECD Global Forum on the Environment dedicated to Per- and Polyfluoroalkyl Su...
 

Recently uploaded

septic tank-biotech-biofilter-biofit-biofil-biotank-bio ipal
septic tank-biotech-biofilter-biofit-biofil-biotank-bio ipalseptic tank-biotech-biofilter-biofit-biofil-biotank-bio ipal
septic tank-biotech-biofilter-biofit-biofil-biotank-bio ipalBiotech Internasioanal
 
Social issues and the environment book material pdf
Social issues and the environment book material pdfSocial issues and the environment book material pdf
Social issues and the environment book material pdf077AnzrFyaz
 
澳大利亚国立大学毕业证制作流程ANU毕业证文凭学历学位认证
澳大利亚国立大学毕业证制作流程ANU毕业证文凭学历学位认证澳大利亚国立大学毕业证制作流程ANU毕业证文凭学历学位认证
澳大利亚国立大学毕业证制作流程ANU毕业证文凭学历学位认证8cuw8kc0
 
GFCM fish forum climate resilient fisheries
GFCM fish forum climate resilient fisheriesGFCM fish forum climate resilient fisheries
GFCM fish forum climate resilient fisheriesMark Dickey-Collas
 
2024-02-24 Composting at Home 101 without voucher for slideshare test 1.ppsx
2024-02-24 Composting at Home 101 without voucher for slideshare test 1.ppsx2024-02-24 Composting at Home 101 without voucher for slideshare test 1.ppsx
2024-02-24 Composting at Home 101 without voucher for slideshare test 1.ppsxEllen Book
 
Coffs Harbour Australie Handelsmissie presentatie
Coffs Harbour Australie Handelsmissie presentatieCoffs Harbour Australie Handelsmissie presentatie
Coffs Harbour Australie Handelsmissie presentatieMetaSus
 
Green Simple Building a Sustainable World Presentation (1).pdf
Green Simple Building a Sustainable World Presentation (1).pdfGreen Simple Building a Sustainable World Presentation (1).pdf
Green Simple Building a Sustainable World Presentation (1).pdfssuserf4565f2
 
Compact Hydrogen Refueling Station(CHRS)
Compact Hydrogen Refueling Station(CHRS)Compact Hydrogen Refueling Station(CHRS)
Compact Hydrogen Refueling Station(CHRS)HNO International
 
Solar KW Oxfordshire solar installations
Solar KW Oxfordshire solar installationsSolar KW Oxfordshire solar installations
Solar KW Oxfordshire solar installationsSolar KW Limited
 
Growth, rhizome yield and biochemical components of turmeric (Curcuma longa L...
Growth, rhizome yield and biochemical components of turmeric (Curcuma longa L...Growth, rhizome yield and biochemical components of turmeric (Curcuma longa L...
Growth, rhizome yield and biochemical components of turmeric (Curcuma longa L...Open Access Research Paper
 
Septic tank, septictank, septic tank biofil, biotech septic tank
Septic tank, septictank, septic tank biofil, biotech septic tankSeptic tank, septictank, septic tank biofil, biotech septic tank
Septic tank, septictank, septic tank biofil, biotech septic tankBiotech Internasioanal
 
Septic tank, septictank, septic tank biofil, biotech septic tank
Septic tank, septictank, septic tank biofil, biotech septic tankSeptic tank, septictank, septic tank biofil, biotech septic tank
Septic tank, septictank, septic tank biofil, biotech septic tankBiotech Internasioanal
 
Disaster_Management_A_Disaster_Managers (1).pdf
Disaster_Management_A_Disaster_Managers (1).pdfDisaster_Management_A_Disaster_Managers (1).pdf
Disaster_Management_A_Disaster_Managers (1).pdfLataJimma
 
#countupto100 LinkedIn Contest Answers and Winners
#countupto100 LinkedIn Contest Answers and Winners#countupto100 LinkedIn Contest Answers and Winners
#countupto100 LinkedIn Contest Answers and WinnersGeloTon
 
Revisions to the Enforcement Rules of the Climate Change Response Act
Revisions to the Enforcement Rules of the Climate Change Response ActRevisions to the Enforcement Rules of the Climate Change Response Act
Revisions to the Enforcement Rules of the Climate Change Response Actccappr
 
STS NEW BIODIVERSITY TODAY - General Education
STS NEW  BIODIVERSITY  TODAY - General EducationSTS NEW  BIODIVERSITY  TODAY - General Education
STS NEW BIODIVERSITY TODAY - General EducationCARLAPASCUAL5
 
bioremediation_microbial remediationppt.pptx
bioremediation_microbial remediationppt.pptxbioremediation_microbial remediationppt.pptx
bioremediation_microbial remediationppt.pptxSanghamitraMohapatra5
 

Recently uploaded (19)

septic tank-biotech-biofilter-biofit-biofil-biotank-bio ipal
septic tank-biotech-biofilter-biofit-biofil-biotank-bio ipalseptic tank-biotech-biofilter-biofit-biofil-biotank-bio ipal
septic tank-biotech-biofilter-biofit-biofil-biotank-bio ipal
 
Social issues and the environment book material pdf
Social issues and the environment book material pdfSocial issues and the environment book material pdf
Social issues and the environment book material pdf
 
Converging Ag Drainage with Water Quality Pt. 1
Converging Ag Drainage with Water Quality Pt. 1Converging Ag Drainage with Water Quality Pt. 1
Converging Ag Drainage with Water Quality Pt. 1
 
澳大利亚国立大学毕业证制作流程ANU毕业证文凭学历学位认证
澳大利亚国立大学毕业证制作流程ANU毕业证文凭学历学位认证澳大利亚国立大学毕业证制作流程ANU毕业证文凭学历学位认证
澳大利亚国立大学毕业证制作流程ANU毕业证文凭学历学位认证
 
GFCM fish forum climate resilient fisheries
GFCM fish forum climate resilient fisheriesGFCM fish forum climate resilient fisheries
GFCM fish forum climate resilient fisheries
 
2024-02-24 Composting at Home 101 without voucher for slideshare test 1.ppsx
2024-02-24 Composting at Home 101 without voucher for slideshare test 1.ppsx2024-02-24 Composting at Home 101 without voucher for slideshare test 1.ppsx
2024-02-24 Composting at Home 101 without voucher for slideshare test 1.ppsx
 
Coffs Harbour Australie Handelsmissie presentatie
Coffs Harbour Australie Handelsmissie presentatieCoffs Harbour Australie Handelsmissie presentatie
Coffs Harbour Australie Handelsmissie presentatie
 
Green Simple Building a Sustainable World Presentation (1).pdf
Green Simple Building a Sustainable World Presentation (1).pdfGreen Simple Building a Sustainable World Presentation (1).pdf
Green Simple Building a Sustainable World Presentation (1).pdf
 
Acoustic Doors | Fire Doors | Envirotech
Acoustic Doors | Fire Doors | EnvirotechAcoustic Doors | Fire Doors | Envirotech
Acoustic Doors | Fire Doors | Envirotech
 
Compact Hydrogen Refueling Station(CHRS)
Compact Hydrogen Refueling Station(CHRS)Compact Hydrogen Refueling Station(CHRS)
Compact Hydrogen Refueling Station(CHRS)
 
Solar KW Oxfordshire solar installations
Solar KW Oxfordshire solar installationsSolar KW Oxfordshire solar installations
Solar KW Oxfordshire solar installations
 
Growth, rhizome yield and biochemical components of turmeric (Curcuma longa L...
Growth, rhizome yield and biochemical components of turmeric (Curcuma longa L...Growth, rhizome yield and biochemical components of turmeric (Curcuma longa L...
Growth, rhizome yield and biochemical components of turmeric (Curcuma longa L...
 
Septic tank, septictank, septic tank biofil, biotech septic tank
Septic tank, septictank, septic tank biofil, biotech septic tankSeptic tank, septictank, septic tank biofil, biotech septic tank
Septic tank, septictank, septic tank biofil, biotech septic tank
 
Septic tank, septictank, septic tank biofil, biotech septic tank
Septic tank, septictank, septic tank biofil, biotech septic tankSeptic tank, septictank, septic tank biofil, biotech septic tank
Septic tank, septictank, septic tank biofil, biotech septic tank
 
Disaster_Management_A_Disaster_Managers (1).pdf
Disaster_Management_A_Disaster_Managers (1).pdfDisaster_Management_A_Disaster_Managers (1).pdf
Disaster_Management_A_Disaster_Managers (1).pdf
 
#countupto100 LinkedIn Contest Answers and Winners
#countupto100 LinkedIn Contest Answers and Winners#countupto100 LinkedIn Contest Answers and Winners
#countupto100 LinkedIn Contest Answers and Winners
 
Revisions to the Enforcement Rules of the Climate Change Response Act
Revisions to the Enforcement Rules of the Climate Change Response ActRevisions to the Enforcement Rules of the Climate Change Response Act
Revisions to the Enforcement Rules of the Climate Change Response Act
 
STS NEW BIODIVERSITY TODAY - General Education
STS NEW  BIODIVERSITY  TODAY - General EducationSTS NEW  BIODIVERSITY  TODAY - General Education
STS NEW BIODIVERSITY TODAY - General Education
 
bioremediation_microbial remediationppt.pptx
bioremediation_microbial remediationppt.pptxbioremediation_microbial remediationppt.pptx
bioremediation_microbial remediationppt.pptx
 

8th Strategic Dialogue of the CMP - Mark Kenber, VCMI

  • 1. Voluntary Carbon Markets Integrity Initiative Building integrity in voluntary carbon markets CMP October 23rd 2023 1
  • 2. About VCMI @2021 Voluntary Carbon Markets Integrity Initiative 2 • Independent Multi-stakeholder initiative • Mission: Enable VCMs that deliver for 1.5 1) Guidance for carbon credit buyers 2) Support country access
  • 3. The VCMI Claims Code - A global and collaborative process 150 responses to the provisional Code through public consultation ~70 companies road-tested ~20 experts sitting in our EAG countries represented in our Country Contact Group 50+ ~70 organisations represented in Stakeholder Forum Claims Code launched in June 2023
  • 4. STEP ONE Comply with the Foundational Criteria STEP TWO Select a VCMI Claim to make STEP THREE STEP FOUR Meet the carbon credit use and quality thresholds required Obtain third-party assurance following the VCMI MRA Framework 4 Steps for Making a VCMI Claim
  • 5. STEP ONE Comply with the Foundational Criteria Foundational Criteria: Maintain and disclose an annual greenhouse gas emissions inventory Set and publicly disclose validated science-based near-term emissions reduction targets, and publicly commit to reaching net zero emissions no later than 2050 Demonstrate that the company is on-track towards meeting a near- term emissions reduction target and minimizing cumulative emissions over the target period Demonstrate that the company’s public policy advocacy supports the goals of the Paris Agreement and does not represent a barrier to ambitious climate regulation
  • 6. STEP TWO Select a VCMI Claim to make This is the most aspirational tier, requiring the purchase and retirement of high-quality carbon credits equal to at least 100% of a company`s remaining emissions once it has made adequate progress towards meeting its near-term targets This tier is designed to be more achievable than Platinum but still requires the purchase and retirement of a significant volume of high-quality carbon credits equal to between 60% and 100% of a company`s remaining emissions once it has made adequate progress towards meeting its near-term targets SILVER This is the most accessible tier, requiring the purchase and retirement of high-quality carbon credits equal to between 20% and 60% of a company`s remaining emissions once it has made adequate progress towards meeting its near-term targets GOLD PLATINUM
  • 7. STEP THREE Meet the carbon credit use and quality thresholds required The Core Carbon Principles: Governance Emissions Impact Sustainable development 1. Effective governance 2. Tracking 3. Transparency 5. Robust independent third-party validation and verification 5. Additionality 6. Permanence 7. Robust quantification of emission reductions and removals 8. No double counting 9. Sustainable development benefits and safeguards 10. Contribution to net zero transition Carbon credits must be of the highest quality, to underpin the credibility of claims and help drive integrity across the market. Companies shall purchase and retire ‘CCP-Approved’ credits when they become available.
  • 8. Clearer and more detailed requirements which are fully assurable VCMI Measurement, Reporting and Assurance Framework to be published in November 2023 Transparent reporting of information is essential to demonstrate that: i. Foundational Criteria requirements has been met ii. VCMI Claim-specific requirements have been met iii. Key information related to the carbon credits used to make the VCMI Claims is disclosed STEP FOUR Obtain third-party assurance following the VCMI MRA Framework
  • 9. VCMI Claims Code: Requirements for disclosure and assurance align with emerging regulatory frameworks​ SEC CSRD UK TPT TCFD CDP Maintain and publicly disclose GHG inventory ✓ ✓ ✓ ✓ ✓ Set near-term targets and commit to long-term target ✓ ✓ ✓ ✓ ✓ Progress towards a near-term target ✓ ✓ ✓ ✓ ✓ Demonstrate public policy advocacy supporting Paris Agreement n/a n/a ✓ ✓ ✓ Transparency around carbon credits ✓ ✓ ✓ ✓ ✓ Foundational Criteria
  • 10. Clear support for the Claims Codes demonstrated by positive reaction ▪ A breadth of voices from governments, UN, and NGOs supported the Claims Code and our media outreach efforts in a variety of regions. ▪ Quality coverage in 40+ international publications, across a variety of geographies. Notable global titles include Reuters, The Guardian, Bloomberg, Politico and WSJ. ▪ Strong interest in our Claims Code since launch day (over 20,000 views on the Claims Code Webpage).
  • 11. Next steps – Additional Claims Code guidance to be published on 28th November Claims Code (June) 1) Monitoring, Reporting and Assurance Framework 2) VCMI Claims Branding 3) Additional VCMI Claims tier(s) Additional modules of guidance
  • 12. Window to limit warming to 1.5 narrowing – every tool needed to close emissions/ financing gap VCMs can rapidly mobilise and allocate capital, in complement to compliance and Article 6 VCMs come with significant reputational risk – but signs that integrity, and confidence, is building Companies must engage credibly, in addition to internal reductions Coordinated comms & air cover is needed to show support COP28 as critical moment COP28 Aim – To reaffirm role and collective support for high value, high integrity VCMs Key ask: country support, coordination, and collaboration to clarify what credible, high- integrity corporate climate action looks like (including the use of carbon credits)
  • 13. Thank you! To join VCMI’s Country Contact Group please email: george.hodgetts@vcmintegrity.org @2021 Voluntary Carbon Markets Integrity Initiative 13