An article in Point Carbon this week has highlighted the importance of carbon offsetting in meeting the UK emissions target by 2020. According to Wayne Sharpe, CEO of Carbon Trade Exchange, “voluntary credits will be ‘vital’ if the UK is to have any chance of meeting its agreed mandate”.
The article alludes to the UK Department of Energy and Climate Change (DECC)’s Quality Assurance Scheme (QAS) for carbon offsets, with an important observation that VER credits are currently excluded from achieving this kite mark. This will have to change. Voluntary market standards are sufficiently robust to invalidate the arguments for CDM-only credits, and VERs and CERs should be considered on an equal footing.
Whatever government transpires from yesterday’s election, it is important that they consider the role that voluntary carbon credits can place in the national and global fight against climate change.
Read Point Carbon’s market summary on the need for voluntary credits here.