We Mean Business Coalition welcomes ICVCM approval of three REDD+ methodologies for VCM to accelerate credible nature investment
We Mean Business Coalition
The recent approval by the Integrity Council for the Voluntary Carbon Market (ICVCM) of three REDD+ methodologies for issuing high-integrity carbon credits is a watershed advancement in developing a next generation VCM that delivers results for climate, nature and people.
Reducing emissions from deforestation and forest degradation is necessary to achieve the goals of the Paris Agreement and ensure a safe and livable climate, with recent research by UNEP suggesting action on forests could deliver around 20 percent of the emissions reductions needed over the next decade. ICVCM’s approval of these first nature-related methodologies is an important recognition of conservation as a climate change mitigation strategy that can credibly be funded through the VCM. With REDD+ credits now eligible for the science-based CCP label, businesses and investors can confidently invest in high-integrity approaches to protect our forests, while reducing global emissions. We Mean Business congratulates the Integrity Council on its extensive work to elevate market integrity through these decisions and looks forward to further methodology decisions in the months ahead.