05/08/23 - Philip's Carbon Market News
Updated: May 9
'Make or Break' Year for Voluntary Carbon Markets - Markets Media Chris Leeds, head of carbon markets development at Standard Chartered, said this year will be ‘make or break’ for the voluntary carbon market which needs to build trust and integrity. Leeds spoke on a panel on the prospects for voluntary carbon markets panel at the AFME European Sustainability Conference on 3 May in Amsterdam. Carbon markets are based on trading of allowances that enable an organization to offset its carbon output. Generally the idea is to cut back on all emissions possible and offset the remaining which split into compliance and voluntary categories. Compliance markets tend to be used by governments to establish a carbon price through laws or regulation by controlling the supply of credits which are traded within a controlled emissions trading scheme (ETS). In contrast, voluntary markets are not legally mandated.
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