US government backs the carbon credit industry’s push to fix itself
Published on 29/05/2024, 2:07pm
The Biden administration throws its weight behind the industry’s attempts to boost integrity in the beleaguered market
President Joe Biden speaks at an Earth Day event on April 22, 2024 in Triangle, VA. (Photo by Samuel Corum/Sipa USA)
By Matteo Civillini and Joe Lo
The US government is seeking to bolster support for carbon offsets by putting its weight behind industry-led efforts to reform a market that has faced growing criticism.
The Biden administration has laid out for the first time a set of principles that attempt to define how “high-integrity” carbon credits can play “a meaningful role” in helping cut greenhouse gas emissions and channelling “a significant amount of private capital” to combat climate change.
A 12-page policy document released by the US government on Tuesday includes provisions to ensure that carbon credit projects deliver real emission reductions, avoid harming local communities and encourage companies to decarbonise their own operations before buying offsets.
https://www.climatechangenews.com/2024/05/29/us-government-backs-the-carbon-credit-industrys-push-to-fix-itself/
