Call for Overhaul in Voluntary Carbon Market Standards
Carbon project developers are pushing for reforms in complaint procedures within the voluntary carbon market. Increased scrutiny and allegations of 'greenwashing' have led to projects being halted, raising concerns among developers. They seek more effective and anonymous complaint handling to maintain the industry's integrity.
Amid rising scrutiny over the voluntary carbon market, developers are calling for significant changes to the standards governing complaint procedures. Developers argue current processes damage the industry's credibility and are urging registry bodies for reformation.
The voluntary carbon market, which allows companies to purchase credits to offset emissions, faces criticism for generating allegedly fraudulent credits. Environmentalists claim such credits enable corporate 'greenwashing.' In response, some registries, including Verra, have halted projects, sparking debate over fairness and transparency.
Nick Marshall, chair of the Project Developers Forum representing over 60 projects, stressed the necessity of addressing both integrity and allegation responses, advocating for an anonymous whistle-blowing system. While Verra claims existing measures meet these needs, developers remain outspoken about necessary improvements.
(With inputs from agencies.)
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