LONDON - The Integrity Council for the Voluntary Carbon Market’s (ICVCM) latest guidelines provide a set of much-needed incremental improvements but fail to raise the quality of carbon credits sufficiently, an industry watchdog has warned.
Although broadly welcoming the ICVCM's new guidelines, analysts at Carbon Market Watch have raised concerns that the update will set a minimum threshold rather than a high bar for carbon markets, which in turn will leave too many loopholes and ambiguities to truly tackle the climate crisis.
