Redefining Environmental Impact - From Carbon Neutrality to Contribution Claims

On June 28, the Voluntary Carbon Markets Integrity Initiative (VCMI), a multi-stakeholder platform that promotes net-zero aligned participation in voluntary carbon markets, published the long-awaited Operational Claims Code of Practice.

Our experts have analyzed the Provisional Code of Claims published by VCMI. Some changes have been made since the previous publication, including:

• The 1st step, formerly known as “Prerequisites”, is now called “Foundational Criteria”;
• Step 2 “Identify Claim(s) to Make” remains, but the previous Bronze, Silver, and Gold tier has been replaced with Silver, Gold, and Platinum, with Platinum representing the most ambitious claim;
• Step 3 still focuses on the purchase of high-quality carbon credits;
• Step 4, previously titled “report transparently on the use of carbon credits” is now “obtain third-party assurance following the VCMI Monitoring, Reporting & Assurance (MRA) Framework, scheduled to launch in November.