Voluntary Carbon Markets: Biden-Harris Administration Releases Joint Policy Statement & Principles on Voluntary Carbon Markets

– Today, U.S.

VCMs are markets in which carbon credits—each representing one tonne of carbon reduced or removed from the atmosphere—are bought and sold by companies, NGOs, governments, and others on a voluntary basis. In addition to their potential to drive decarbonization efforts, VCMs also have the potential to generate economic opportunity at home and abroad—including for farmers, ranchers, small suppliers, and through projects and programs in developing countries.

“With the right incentives and guardrails in place, VCMs can be a source of critical financing to drive decarbonization and clean energy solutions,” said“When President Biden thinks climate, he thinks jobs, and from day one, he’s positioned America to seize this massive opportunity,”“President Biden recognizes that the right rules of the road are key to durably advance not just our climate ambitions, but also economic opportunity and environmental justice.

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