Carbon credits and compensation claims: the state of the VCM

The latest available data on global carbon credits exchanges (2023).
18.01.2024

The voluntary carbon market (VCM) involves the trading of carbon credits, where individuals or companies can purchase credits to compensate for their carbon emissions. These credits can represent investments in different types of projects that reduce or capture greenhouse gas emissions, such as renewable energy initiatives, afforestation or carbon removal projects.  The latest available data shows that the total value of carbon credits trading in 2022 was around $1.5 billion, corresponding to approximately 200 Mt of CO2. Carbon dioxide removal (CDR) represents 3% of all VCM transactions in terms of…

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How to build a robust framework for the certification of high-quality carbon removals?

A visual guide by Clean Air Task Force, Bellona, and Carbon Gap
16.11.2023

Next week, the European Parliament will vote on the Carbon Removal Certification Framework. We call on MEPs to support the ENVI Committee report, which paves the way for constructive trilogue negotiations. We, alongside our colleagues at Clean Air Task Force Bellona, are thrilled to unveil a visual guide detailing the crucial steps towards achieving a robust and scientifically sound carbon dioxide removal (CDR) certification, with a particular focus on monitoring, reporting, verification and liability. Indeed, an effective CDR certification is a pivotal move in seamlessly integrating carbon removal into EU climate policies. It signifies…

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Carbon Dioxide Removal and Certification – What is it and why is it needed?

A factsheet by Clean Air Task Force, Bellona, and Carbon Gap
21.12.2022

To ensure environmental and consumer protection, stakeholders need to measure, validate, and certify carbon removals. Presently, there is a lack of common rules and standards on accounting, and monitoring, reporting and verification (MRV), and the definition of carbon removals. Creating an effective certification framework can ensure that only high-quality and reliable CDR is credited. This is a first step toward helping the EU and other jurisdictions recognise and reward CDR without hampering decarbonisation, thereby aiding in the scale-up of carbon removals. Read our factsheet to learn more. Key takeaways To…

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The difference between CCS, CCU, and CDR – and why it matters

16.11.2022
Fact sheet explaining the difference between CCS CCU and CDR

Carbon capture and storage (CCS), carbon capture and utilisation (CCU), and carbon dioxide removal (CDR) will all need to play a role in the mitigation of climate change, yet differ in origin and destination of captured carbon, and therefore also in their impact on net greenhouse gas emission balances. To ensure effective action on climate change, it is essential to distinguish the different roles these so-called ‘carbon management’ options can and cannot play in climate change mitigation, to inform the use of the most appropriate tool in different contexts. We…

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Beyond offsetting – multiple use cases of certification

16.11.2022

Carbon removal certificates can be used in several contexts, from offsetting, which requires the quantification of carbon removed to balance the equivalent quantity of greenhouse gas emissions, to uses that do not include compensation claims or the exact measurement of carbon quantities removed. It is crucial to consider the variety of certification use cases, in order to determine the best use of carbon removal certificates given specific contexts and objectives.

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