Initiative launched to rank corporate climate claims using carbon offsets

“We need to have something that provides coherence and consistency across corporate claims around carbon credit use, in conjunction with their decarbonisation,” Mark Kenber, VCMI executive director told Reuters in an interview.


A consultation for a global standard to assess companies’ claims about progress towards internal climate targets and their use of carbon offset credits launched on Tuesday, seeking to bring transparency to an unregulated market.

Many global companies such as Shell (SHEL.L) and Easyjet (EZJ.L) have set net zero emission targets, saying they would need to buy or generate carbon credits to offset residual greenhouse gases.

Offset credits, based on projects for planting trees or switching to less polluting fuels, currently trade in an unregulated, voluntary market with many different standards and approaches.

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