The Voluntary Carbon Market Integrity Initiative (VCMi) seeks to facilitate countries’ achievement of their climate targets by supporting their engagement with the voluntary carbon market. Uptake of the voluntary carbon market in many countries has been hindered by informational and capacity barriers.
This report summarizes essential issues surrounding governments’ – specifically of developing countries – engagement with the carbon market, with a view to help governments design appropriate and effective strategies that align with their policy priorities and national circumstances.
Governments can engage with carbon markets in a variety of ways; as regulators, activity proponents, or facilitators. Their responsibilities include designing regulations that ensure that projects align with national priorities and observe appropriate safeguards. Public agencies can also directly implement or finance programs or project activities and put in place incentives that attract carbon investments and direct them into priority sectors.
