The Carbon Market Is Set for a Major Shake-Up

The voluntary carbon market (VCM) covers less than one-half percent of global greenhouse gas (GHG) emissions. It remains very small after many years of development and reform. It is recovering from a downturn after press revelations of overproduction of credits in Indonesia and elsewhere. The quality of credits, their actual accounting for removal or avoidance of 1 metric ton per credit, is a constant concern. Yet this small market plays an important niche role in testing methods and technologies. And it might become increasingly important as it…