The Challenges of the Voluntary Carbon Market: An analysis of its current state and the regulatory framework surrounding it
mr. drs. J.J.F. van der Meer en mr. G. Smit1Artikel kopen € 79,00 excl. BTW
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Abstract: Interest in the Voluntary Carbon Market (VCM) increased rapidly since 2020. Recently, however, the VCM has been faced with controversy and criticism. There are indications that the total market value may have already peaked in 2022. In view of the increased public interest, intensified regulatory oversight and other challenges of the VCM, this article examines its current state, regulatory framework and challenges, as well as considerations regarding mitigations of certain deficits surrounding this market.
1. Introduction
Globally, and particularly within Europe, companies are increasingly committed to decarbonising their operations and adapting to a lower-carbon future.2 States and other (non-state) actors, including companies, are working towards a reduction of greenhouse gases ("GHG")3 in the atmosphere. Direct reductions in emissions are preferred. Those are incentivised under various market-based instrument...
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