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US Department of the Treasury releases statement and principles on voluntary carbon markets
Publication date: 28 May 2024
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US Department of the Treasury releases statement and principles on voluntary carbon markets
On May 28, the US Department of the Treasury, together with several other governmental agencies, announced a joint statement of policy and principles for responsible participation in voluntary carbon markets (VCMs). 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, governments, and others on a voluntary basis. This has the potential to play a role in channeling private capital to drive decarbonization efforts.
On May 28, the US Department of the Treasury, together with several other governmental agencies, announced a joint statement of policy and principles for responsible participation in voluntary carbon markets (VCMs). 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, governments, and others on a voluntary basis. This has the potential to play a role in channeling private capital to drive decarbonization efforts.
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