Voluntary carbon markets can help unlock the power of private markets to reduce emissions, but that can only happen if we address significant existing challenges," said Treasury Secretary Janet Yellen.
The principles released today are an important step toward building high-integrity voluntary carbon markets.
The principles for 'responsible participation' in offset markets outlined by U.S. officials on Tuesday include strict standards to ensure that projects deliver real and quantifiable emissions reductions.
Credibility is literally the commodity," said Energy Secretary Jennifer Granholm at an event announcing the policy in Washington, D.C., on Tuesday.
#voluntary-carbon-credits #emissions-reduction #market-regulations #government-policy #climate-change
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