PCCMs facilitate the generation, trading, and retirement of carbon credits from projects that remove, reduce, or avoid greenhouse gas emissions. By creating a revenue stream from verified climate outcomes, PCCMs help decarbonization projects attract financing that might otherwise be unavailable. Moreover, some projects provide co-benefits, such as the preservation of land, forests, water, and biodiversity. PCCMs have expanded rapidly since their emergence, but the growth has stalled in recent years due to concerns about credit integrity.
Voluntary standards have made significant progress in strengthening credit integrity, but their non-binding nature limits their capacity to provide enforceable safeguards, consistent oversight, or dependable recourse for market participants. For PCCMs to gain credibility and function with integrity, countries need regulatory frameworks that can fill these gaps. To better understand the varying evolution of regulations for PCCMs across the globe, CGEP combined comparative research with expert convenings to examine how national regulations have been developing globally and assessed whether these frameworks could help close the integrity gap in these markets.
This webinar follows CGEP’s publication of a white paper from this effort that takes stock of the regulatory landscape for PCCMs across G20 countries and Singapore. The webinar begins with a brief presentation on the main findings from CGEP’s research and will be followed by a moderated panel discussion of PCCM regulations with experts from the UK, the EU, and Singapore, who speak about the motivation behind establishing regulations in each of their respective countries, where implementation currently stands, and what remains to be done. Relatedly, the World Bank has produced a toolkit that offers countries a practical pathway to develop or strengthen their regulatory frameworks for high-integrity carbon credit transactions.
For more information about the event, please contact [email protected].
