German Ministry for the Environment supports Gold Standard to frame transition of voluntary carbon market in line with Paris Agreement
The programme furthers Gold Standard’s work to ensure the voluntary carbon market represents the highest integrity and greatest impact in accelerating progress to Net Zero global climate targets.
GENEVA, SWITZERLAND – 15 October 2020:
The German Ministry of the Environment, Nature Conservation and Nuclear Safety (BMU) announced it is supporting Gold Standard to develop a framework to transition the voluntary carbon market for alignment with new rules emerging from the Paris Agreement in an effort to scale market impact. With clear science indicating an urgent need to decarbonise the global economy, alongside a growing willingness among companies to commit to climate action, the voluntary carbon market is poised to become a major solution to the climate emergency.
Gold Standard and partners that include government, civil society, and market stakeholders will develop Voluntary Carbon Market Transition Framework to serve as a roadmap to transition voluntary carbon standards to be (a) aligned with Article 6 of the Paris Agreement to remain ambitious and credible, (b) accessible and equitable for host countries and engaged parties, and (c) operational and scalable to contribute significantly to Paris climate goals.