At COP 28 several independent carbon crediting standards have announced a collaboration to increase the impact of activities under their standards.

The six crediting programmes (ICPs) are joining forces to amplify the impact of carbon markets in achieving real mitigation and supporting countries in implementing Article 6 and their Nationally Determined Contributions. Signatory crediting programmes are ACR, ART, CAR, GCC, GS, Verra/VCS.

“Carbon markets have been a critical driver of private sector investment in tangible climate action in developing countries for over 20 years,” the coalition said. “Under this collaboration, we have a shared commitment to steps that will accelerate countries’ mitigation efforts and assist them in achieving their NDCs and the Paris goals.”

Carbon markets have leveraged more than $36bn in finance to developing countries in the last two years, and the new coalition is hoping to grow the pipeline of funding for impactful projects around the globe.

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