ICVCM Co-Hosts VCM Day at New York Climate Week 2024

The Integrity Council for the Voluntary Carbon Market participated in New York Climate Week 2024, co-hosting a flagship event focused on scaling high-integrity voluntary carbon markets. Speakers from more than a dozen governments and international organisations reaffirmed the importance of integrity and transparency as the foundation for a reformed voluntary carbon market.

The Integrity Council co-hosted VCM Day alongside the Global Carbon Markets Utility and the Voluntary Carbon Markets Integrity Initiative, drawing high-level speakers from governments including the US, UK, Singapore, Japan, Brazil, and several African and Latin American nations. Annette Nazareth, Chair of the Integrity Council, announced a new partnership with the Africa Carbon Markets Initiative aimed at scaling high-integrity carbon markets across Africa. The UK government also shared its intention to consult on reforms to strengthen the voluntary carbon market.

Representatives of Indigenous Peoples and local communities delivered a prominent message at VCM Day, stressing their role as stewards of the world's critical ecosystems. Onel Masardule, Co-chair of the VCM Engagement Forum, noted that Indigenous Peoples manage 40% of the world's intact landscapes and must be integral to shaping the future voluntary carbon market. Francisco Souza, an Indigenous Peoples member of the Integrity Council's Board, underscored that despite representing just 5% of the global population, Indigenous communities manage critical carbon sinks pivotal to climate mitigation.

CEO Amy Merrill outlined the potential of transition credits linked to national decarbonisation strategies, noting that social safeguards and sustainable development must be core elements. The Integrity Council announced a new Continuous Improvement Work Programme to explore how carbon crediting can support a just transition away from fossil fuels. Merrill concluded that scaling the voluntary carbon market requires simultaneous action on reductions and removals, nature and technology, and corporate decarbonisation alongside investment in high-integrity credits.

Key figure — 40% of the world's intact landscapes managed by Indigenous Peoples