Why The US Government’s Voluntary Carbon Market Principles Are a Positive Step Forward For Tackling Climate Change

The We Mean Business Coalition welcomes the U.S. government's principles for high-integrity voluntary carbon markets, arguing that well-designed market mechanisms are essential for directing finance toward underfunded priorities like nature-based solutions. The author notes that nature-based solutions could provide 30% or more of the mitigation needed by 2030 but currently receive less than 10% of international climate finance. The document emphasizes that the U.S. approach aligns with the need for credible credits, public disclosure, and the prioritization of emission reductions within corporate value chains. It also highlights a decline in climate finance through voluntary carbon markets in 2023, which dropped by over $1 billion compared to 2022, urging other governments to follow the lead of the U.S., Colombia, and Singapore.

• Nature-based solutions (NbS) have the potential to provide 30% or more of the mitigation required to meet global climate goals by 2030, yet they currently receive less than 10% of international climate finance.
• The U.S. government's principles for voluntary carbon markets focus on ensuring credits are credible, represent actual decarbonization, avoid harm, and provide co-benefits, while requiring buyers to prioritize reductions in their own value chains and maintain public disclosure.
• Climate finance channeled through voluntary carbon markets experienced a significant decline in 2023, decreasing by more than $1 billion relative to 2022 levels.
• The U.S. government's announcement supports the work of the Integrity Council for the Voluntary Carbon Markets (ICVCM) and its Core Carbon Principles in developing high-integrity carbon credits on a global scale.

APA

Ahlen, J. (2024). Why The US Government’s Voluntary Carbon Market Principles Are a Positive Step Forward For Tackling Climate Change. We Mean Business Coalition. https://www.wemeanbusinesscoalition.org/blog/why-the-us-governments-voluntary-carbon-market-principles-are-a-positive-step-forward-for-tackling-climate-change/

Chicago

Ahlen, Jenny. Why The US Government’s Voluntary Carbon Market Principles Are a Positive Step Forward For Tackling Climate Change. We Mean Business Coalition, 2024. https://www.wemeanbusinesscoalition.org/blog/why-the-us-governments-voluntary-carbon-market-principles-are-a-positive-step-forward-for-tackling-climate-change/.

Wikipedia

{{cite press release |last1=Ahlen |first1=Jenny |title=Why The US Government’s Voluntary Carbon Market Principles Are a Positive Step Forward For Tackling Climate Change |publisher=We Mean Business Coalition |date=30 May 2024 |url=https://www.wemeanbusinesscoalition.org/blog/why-the-us-governments-voluntary-carbon-market-principles-are-a-positive-step-forward-for-tackling-climate-change/ |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@misc{ahlen2024why, author = {Ahlen, Jenny}, title = {{Why The US Government’s Voluntary Carbon Market Principles Are a Positive Step Forward For Tackling Climate Change}}, publisher = {We Mean Business Coalition}, year = {2024}, month = may, url = {https://www.wemeanbusinesscoalition.org/blog/why-the-us-governments-voluntary-carbon-market-principles-are-a-positive-step-forward-for-tackling-climate-change/}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }