ClimateCare has led the drafting and release of a joint statement from a coalition of eight leading carbon offset providers:
DEFRA Government Offsetting Code to remain open to quality VERs (Verified Emission Reductions).
Eight leading international carbon offset companies, together supplying both CERs and VERs to the beyond-compliance market, have today welcomed the UK Government’s Offsetting Code and its recognition of the important role played by Verified Emissions Reductions (VERs).
When Defra in the UK published its draft version of the Code (Jan 2007) ‘Kyoto-compliant’ carbon credits only were included. However, following a twelve month consultation that saw support for VERs from experts as varied as NGOs and academics through to Parliament’s own Environmental Audit Committee, Hilary Benn stated yesterday that “we recognise that credits from the unregulated market may be innovative and of a very high standard”.
As a group of eight leading carbon offsetting companies, representing most of the leading suppliers by volume in the beyond-compliance carbon (voluntary) market, we welcome the government’s adoption of the key principles already used by the market for selection of VER and CER emission reduction programmes – from additionality and leakage through to permanence and verification. It’s appropriate and welcome that Defra has listened to the market and is taking a lead from it.
The beyond-compliance carbon market, which kick-started carbon trading in the mid-nineties, is global, cross-sectoral and growing extremely fast. The industry has professionalised over the last 5 years, and has seen in the launch of new quality standards for VERs including the Gold Standard (GS VER) and the Voluntary Carbon Standard (VCS), with registries for the VCS and GS in development along with a planned project database linking the two. (see Notes below)
We firmly believe that there is increased interest from people and business in acting beyond compliance, i.e. reducing emissions because they want to not because they have to. This is the carbon market coming of age, and we look forward to working with the UK Government to keep them informed participants in the global development of this innovative and fast-paced emergent market – one that is already generating important investments and innovative solutions towards tackling climate change.
Jonathan Shopley, Executive Director,The CarbonNeutral Company
Jamal Gore, Managing Director, Carbon Clear
Edward Hanrahan, Chief Operating Officer, ClimateCare
Steve Green, Carbon Strategy and Partnerships Manager, Climate Friendly
Mike Rigby, Director,co2balance
Tom Stoddard, Vice President, NativeEnergy
Kerryn Schrank, Programme Director, targetneutral
Adam Stern, Vice President of Policy and Strategy, Terrapass
