Redefining Environmental Impact – From Carbon Neutrality to Contribution Claims

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.

VCMI’s Operational Claims Code of Practice Step 1, referred to as “The Foundational Criteria”, involves disclosing an annual GHG emissions inventory, establishing and disclosing science-based emissions targets for the near term, publicly committing to a…