IETA Issues Guidelines for High Integrity Use of Carbon Credits.

In the present day is Tuesday, 21 Could 2024.

Just a few days in the past the Worldwide Emissions Buying and selling Affiliation (IETA) unveiled its “Guidelines for High Integrity Use of Carbon Credits”, setting out clear steering on how company patrons ought to contemplate their use of carbon credit to progress in direction of the targets of the Paris Settlement.

IETA, a non-profit enterprise affiliation, was based in 1999 as the primary worldwide group dedicated to pricing and buying and selling greenhouse fuel reductions, Initially specializing in the Kyoto Protocol and the Clear Improvement Mechanism (CDM), over time it expanded to cowl the EU ETS and different nationwide and sub-national efforts throughout the Globe, creating coverage and market frameworks for Voluntary Carbon Markets (VCM).

The Tips are supposed for firms engaged on local weather motion and that belief VCM as an extra pathway in direction of reaching the Paris Settlement targets. Which means that buying and selling on the VCM is one thing that goes in parallel with inside companies decarbonisation and emissions reductions efforts, according to formidable near-and long-term web zero targets.

About IETA’s “Guidelines for the High Integrity Use of Carbon Credits”, briefly, are the next:

1 – Reveal assist for the Paris Settlement Targets

2 – Quantify and publicly disclose scope 1, 2 and three emissions profiles

3 – Set up a web zero decarbonisation pathway and near-term targets

4 – Use carbon credit according to the mitigation hierarchy

5 – Make sure that solely high-quality carbon credit are used

6 – Transparently disclose use of carbon credit

On web page 9 of the Tips there’s a nice desk evaluating 4 carbon credit utilization circumstances, from the views of 6 totally different steering, together with IETA itself, SBTi and VCMI.

Click on under to obtain the complete 20-pages doc.