Ecosphere+ welcomes the release today of the TSVCM’s final recommendations, which emphasise the important role that voluntary carbon markets can play in accelerating climate action to reach net zero and meet the goals of the Paris Agreement.
The report marks a critical moment for the carbon market, laying a blueprint for how to unlock greater investment in the carbon reduction, avoidance and removal projects that will be key in the net zero transition. The report establishes core principles and actions to put the carbon market on a credible pathway to contributing meaningful emission reductions, claiming the market will need to grow by at least 15 times by 2030.
Led by Mark Carney and Bill Winters, the Taskforce on Scaling Voluntary Carbon Markets is comprised of more than 40 experts from across six continents and supported by a Consultative Group, which includes Ecosphere+ CEO Lisa Walker.
Responding to the release of the recommendations, Lisa Walker said: “It is a privilege to be a part of this taskforce’s consultative group, and to work to build much needed consensus around the potential of a transparent, verifiable and robust carbon market. Ensuring high levels of market integrity and consensus on the legitimacy of offsetting to achieving net zero is absolutely critical, so we welcome this monumental report which establishes a roadmap for market credibility.”
Lisa Walker continued, “It is invigorating to see the voluntary carbon market validated and debated by such a leading and diverse taskforce. We are looking forward to continuing to collaborate with all stakeholders – corporates, project developers, governments and NGOs – to drive even greater growth of a market led by strong values and principles.”
Ecosphere+ works with clients from across the economy to support the development of transparent roadmaps to net zero, emphasising the importance of addressing scope 3 emissions and implementing reductions where possible before offsets, and designing products for clients to manage climate-related financial risks. With a large portfolio of best-in-class, double-verified forest carbon projects across Latin America and Southeast Asia, Ecosphere+ delivers market-leading natural climate solutions that go beyond immediate climate impact to generate broad environmental, social and economic benefits.
Watch the below conversation with Bill Gates, Mark Carney, Annette Nazareth and Bill Winters which introduces and discusses the findings of the recent Taskforce on Scaling Voluntary Carbon Markets. Hosted by the World Economic Forum as part of the 2021 Davos Agenda.