- Recent press about global Voluntary Carbon Markets (VCMs) has, rightly, raised concerns about the integrity of some of the schemes available for investors looking to offset their carbon footprint.
- Not all VCMs are built the same, however. VCMs endorsed by the UK government use a methodology based on scientific consensus and are free from methodological subjectivities and uncertainties, which is in contrast with the international schemes currently attracting criticism.
- This means commonly cited concerns around VCMs overstatement of impact in other parts of the world are not relevant or applicable to the UK context.
- The UK Nature Impact team is well aware of this nuance. Indeed, the creation of the strategy and its UK-only investment universe was motivated by our believe in the integrity of the UK methodological VCM framework.
- We continue to monitor the situation and welcome progress on tightening non-UK VCM standards.