Published : January 2024
New research from The Climate Board shows strong corporate demand for carbon credits to help achieve climate targets, but key challenges around credibility and standardization must be addressed. 93% of companies surveyed with Scope 3 emissions goals face major difficulties meeting them. However, 70% believe carbon credits could enhance their climate strategies. The report informed recent Voluntary Carbon Markets Integrity Initiative updates providing guidance on limited credit usage to supplement internal reductions. There is great potential if issues regarding quality assurances and transparency can be resolved to enable credits to play a pivotal role per the Paris Agreement while benefiting communities.