Taskforce discloses the roadmap for large-scale carbon market
During the Davos event 2021, the Taskforce on Scaling Voluntary Carbon Markets (TSVCM) disclosed its blueprint to develop a large-scale carbon credit trading market. The Taskforce's roadmap aims to serve the global goals of limiting temperature increase to 1.5°C and achieving net-zero emissions by 2050.
The TSVCM report's launch took place at the Davos Agenda, in an online conversation involving high-level speakers as Bill Gates, Mark Carney, Annette L. Nazareth and Bill Winters.
The Taskforce is a major initiative launched in September 2020 by Mark Carney, United Nations Envoy for Climate and UK Government Financial Advisor for COP26. Carbonsink is the only Italian company to be part of the Advisory Group of experts who contributed to the work of the Taskforce, in the person of Andrea Maggiani, CEO and founder of Carbonsink.
Among the key finding, the TSVCM identified six key areas where efforts are required to achieve a large, transparent, verifiable, and robust voluntary carbon market:
- core carbon principles,
- core carbon reference contracts,
- offset legitimacy,
- market integrity,
- and demand signalling.
The TSVCM also declared that COP26 in November 2021 represented “a milestone for launching robust guidance on the use and claims of carbon credits to ensure that voluntary crediting contributes towards the Paris Agreement temperature goals”.
Read the full TSVCM report and summary here
Access the event “Carbon Markets: A Conversation with Bill Gates, Mark Carney, Annette Nazareth and Bill Winters” here