A cohort of leading corporations have signed up for the Voluntary Carbon Markets Integrity Initiative’s (VCMI) programme. Their objective: to leverage the VCMI’s Claims Code of Practice to affirm the integrity and effective application of high-quality carbon credits essential for decarbonisation efforts.
Close up on a local man working in a tree nursery, holding a seedling, Hongera Reforestation Project. DGB.
The VCMI recently unveiled the Early Adopters Program (EAP), welcoming inaugural members such as Bain & Company, BCG, Better Drinks, Natura, and Sendle. Spanning till December, the programme aims to guide companies in articulating claims associated with carbon credit utilisation.
Read more: VCMI launches Claims Code of Practice to ensure carbon industry standards
EAP participants will receive hands-on assistance in understanding the workings of the Claims Code. It includes equipping them with tools and resources to streamline communication on environmental action claims and credit utilisation.
Mark Kenber, the VCMI's executive director, praised the EAP as a testament to corporate environmental leadership. He emphasised the significance of integrity and transparency in their engagement with the VCM, a crucial factor often criticised for its absence.
Read more: The interconnected world of carbon: exploring key carbon market concepts
The Claims Code, established in June this year, acts as a guiding framework for companies, ensuring compliance when making environmental-related claims and utilising carbon credits to bolster decarbonisation efforts.
Advocating for integrity within these markets, the VCMI's Claims Code operates through three tiers—Platinum, Gold, and Silver—recognising investments beyond corporate actions that contribute to emissions reductions and removals aligned with science-based targets.
The VCMI's collaborative efforts with various entities aim to fortify this rulebook, combatting concerns over greenwashing and the quality of available credits, thereby fostering greater corporate confidence in engaging with these markets.
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