IETA issues guidelines for using carbon credits with high integrity.

As we speak is Tuesday, Might 21, 2024.

Just a few days in the past, the Worldwide Emissions Buying and selling Affiliation (IETA) launched its “Guidelines for Using Carbon Credits with High Integrity” ( Tips for Excessive Integrity Use of Carbon Credit ) establishing clear steerage on how company patrons ought to think about using carbon credit in the direction of the targets of the Paris Settlement.

IETA, a non-profit enterprise affiliation, was based in 1999 as the primary worldwide group devoted to pricing and buying and selling greenhouse fuel reductions. Initially focusing on the Kyoto Protocol and the Clear Improvement Mechanism (CDM), over time it additionally expanded its focus to the EU ETS and different nationwide and subnational efforts all over the world, growing insurance policies and frameworks for Voluntary Carbon Markets. (VCM).

The Tips are geared toward firms concerned in local weather motion and who imagine in VCM as a further path to reaching the targets of the Paris Settlement. Because of this VCM enterprise goes hand in hand with firms’ inside decarbonization and emissions discount efforts, in step with formidable brief and long-term internet zero targets.

About IETA’s “Guidelines for the High Integrity Use of Carbon Credits”, in abstract, they’re as follows:

1 – Show assist for the Paris Settlement Targets

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

3 – Set up a internet zero decarbonization path and short-term targets

4 – Use carbon credit aligned with the mitigation hierarchy

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

6 – Transparently disclose using carbon credit

On web page 9 of the Tips there’s a nice desk evaluating 4 use instances for carbon credit, from the angle of 6 completely different tips, together with these from IETA, SBTi and VCMI.

Click on beneath to obtain the complete 20-page doc.