{"id":4801,"date":"2024-02-15T17:44:45","date_gmt":"2024-02-15T14:44:45","guid":{"rendered":"https:\/\/www.cfwt.sua.ac.tz\/foresteconomics\/?p=4801"},"modified":"2024-02-15T17:44:45","modified_gmt":"2024-02-15T14:44:45","slug":"challenges-in-voluntary-carbon-markets","status":"publish","type":"post","link":"https:\/\/www.cfwt.sua.ac.tz\/foresteconomics\/challenges-in-voluntary-carbon-markets\/","title":{"rendered":"Challenges in voluntary carbon markets"},"content":{"rendered":"

In voluntary carbon markets, buyers (like big companies with emissions) voluntarily purchase and trade in offsets generated from emissions reduction or removal projects elsewhere. And in early 2023 momentum was building for them, but that soon collapsed as evidence of greenwashing grew: forestry programs were significantly overestimating their value. Allegra Dawes at CSIS lays out the background before explaining that systems must be put in place to ensure carbon credits represent real, additional, and permanent emissions reductions. At present, most\u00a0carbon credits<\/a>\u00a0are purchased with little standardization in contracts.<\/p>\n

Any standardization comes from multiple independent organizations that use different\u00a0methodologies to certify projects and credits<\/a>. Dawes looks at three recent developments that can help. In the U.S. the Commodities Futures\u00a0Trading Commission is proposing regulated<\/a>\u00a0exchanges. At\u00a0COP28<\/a>, six of the largest independent crediting programs agreed to collaborate to align standards. And in\u00a0Japan<\/a>, the government has got involved in shaping and regulating the voluntary market. Done correctly, voluntary markets can be a useful tool to\u00a0combat climate change<\/a>\u00a0and accelerate the energy transition, says Dawes.<\/p>\n

What\u2019s Plaguing Voluntary Carbon Markets?
\n<\/strong>Voluntary carbon markets (marketplaces in which buyers voluntarily purchase and trade in offsets generated from emissions reduction or removal projects) have long been the center of a divisive debate. Proponents of these markets in which companies and other buyers can purchase\u00a0carbon credits to offset<\/a>\u00a0their emissions argue that they are essential for increasing climate finance and enabling companies to reach their net-zero targets. Critics argue that voluntary arrangements are little more than elaborate greenwashing mechanisms.<\/p>\n

In early 2023, it seemed that momentum was building for\u00a0voluntary markets<\/a>. A growing number of companies looked to implement net-zero\u00a0strategies<\/a>, contributing to a\u00a0thriving market.\u00a0Developing countries<\/a>\u00a0announced\u00a0ambitious plans\u00a0to use revenues from credits generated from domestic forests to boost their economies. New market arrangements promised\u00a0that\u00a0carbon credits could\u00a0kickstart climate<\/a>\u00a0finance\u00a0and\u00a0spur innovation\u00a0in clean technologies.<\/p>\n

Additionally, new initiatives emerged to tackle the credibility challenge including organizations like the Science Based Targets Initiative, the Voluntary\u00a0Carbon Credit<\/a>\u00a0Integrity Initiative (VCMII), and The Integrity Council for the Voluntary Carbon Market (ICVCM). These developments bolstered assessments that the voluntary\u00a0trade of carbon credits<\/a>\u00a0would boom, with some analysts predicting a market size of $250 billion by 2050.<\/p>\n

Despite this activity,\u00a0last year was a difficult one for\u00a0voluntary carbon markets<\/a>. Across all categories of\u00a0carbon credits,\u00a0prices slumped\u00a0throughout the year<\/a>. Major corporate buyers stepped back from purchasing\u00a0carbon credits<\/a>\u00a0as\u00a0accusations of greenwashing grew. Additionally, continuing debates over\u00a0Article 6<\/a>\u00a0of the Paris Agreement at the 2023 UN Climate Change Conference (COP28) left the role of voluntary markets in achieving nationally determined contributions unclear.<\/p>\n

 <\/p>\n

Markets Falling Short of Lofty Goals
\n<\/strong>Why did the trade of credits decline in 2023? One reason is\u00a0companies\u2019 growing concern over potential reputational risks. Two high-profile studies pointed to systemic problems with credits generated from\u00a0nature-based<\/a>\u00a0projects. In January 2023, a report done by\u00a0TheGuardian, the German weekly\u00a0Die Zeit, and SourceMaterial assessed\u00a0credits certified by\u00a0Verra<\/a>, a leading carbon standard. The investigation found that\u00a0more than\u00a090 percent of their\u00a0forestry credits\u00a0did<\/a>\u00a0not represent real emissions reductions. In August, a study in\u00a0Science\u00a0assessed that\u00a0forestry programs\u00a0significantly overestimated\u00a0their prevention of deforestation.<\/p>\n

These reports are not necessarily novel. Offsets have long faced similar questions over integrity. However, they come at a time when companies are particularly sensitive to potential reputational risks over net-zero strategies. Lately, investment strategies led by environmental, social, and governance (ESG) standards have become more controversial. ESG funds have faced criticism from the right for prioritizing environmental\u00a0goals<\/a>\u00a0over investor returns and have seen a fall in investor support due to the poor performance of some funds. The\u00a0potential legal ramifications of using carbon credits<\/a>\u00a0have also grown. In May 2023, a class-action lawsuit was filed in California against Delta Air Lines arguing that the airline misrepresented itself as a\u00a0carbon neutral based on problematic carbon offsets<\/a>. This fits a growing trend; globally, between 2015 and 2022, 81 \u201cclimate washing\u201d cases were filed against companies.<\/p>\n

These challenges point to problems in both the supply and demand sides of voluntary\u00a0carbon markets<\/a>. First, the fundamental question over how to ensure\u00a0carbon credits<\/a>\u00a0represent real, additional, and permanent emissions reductions. In today\u2019s marketplace, most\u00a0carbon credits are purchased in bespoke trade<\/a>\u00a0with little standardization in contracts. Multiple independent standard organizations use different methodologies to\u00a0certify projects and credits<\/a>. This heterogeneity complicates efforts to certify projects and prevents buyers from having clear views of the quality of different credits.<\/p>\n

Second, there is also uncertainty on the demand side. How companies use\u00a0credits to achieve net-zero goals<\/a>\u00a0matters. While organizations like VCMII advocate for buyers to use credits as a supplement to overarching decarbonization pathways, there is little to no\u00a0direction for how best to use credits<\/a>\u00a0and what claims can be made. The lack of transparency on the usage of\u00a0carbon offsets complicates efforts to improve the credibility of voluntary<\/a>\u00a0arrangements.<\/p>\n

 <\/p>\n

New Models to Address the Credibility Challenge
\n<\/strong>The challenges voluntary markets are facing today are serious; the market is unruly with large informational asymmetries between project developers, standards organizations, certifiers, and buyers. The reputational concerns that companies face could\u00a0limit demand for offsets<\/a>. Without high-quality credits, the supply side will fail to deliver on their promises. However, despite these challenges, voluntary markets can improve; three recent developments point to promise amid the struggles.<\/p>\n

 <\/p>\n

Carbon Market Oversight by Financial Market Regulators
\n<\/strong>In December 2023, the\u00a0Commodities Futures Trading Commission released\u00a0proposed guidance\u00a0for voluntary carbon credit derivative contracts listed on designated contract markets (DCMs). Under the proposed regulation, these\u00a0regulated exchanges\u00a0would consider the characteristics of the underlying\u00a0carbon credit including the quality<\/a>\u00a0of the standards, the delivery points and facilities and the inspection provisions as relevant characteristics of carbon credits.<\/p>\n

The proposed guidance is a clear attempt to enforce some regulations on the secondary\u00a0market for carbon credits<\/a>. DCMs should consider whether crediting programs make procedures publicly available, whether\u00a0credits are truly additional<\/a>, and ensure that credits found to misrepresent emissions reductions are replaced. While the secondary market is expected to grow significantly, it remains a relatively niche market today meaning the impact of these policies would be limited. Additionally, the guidance would largely be reliant on market standards that exist today with little additional oversight.<\/p>\n

 <\/p>\n

Alignment of Independent Credit Standards
\n<\/strong>Independent organizations that set standards for projects that produce carbon offsets and certify carbon credits play a significant role in today\u2019s market. At COP28, six of the largest independent crediting programs, including\u00a0Verra<\/a>, Gold Standard, and the Global Carbon Council, agreed to collaborate and better coordinate their approaches to certification.<\/p>\n

Aligning standards could also improve the efficiency and efficacy of auditing\u00a0projects and crediting schemes<\/a>. Rather than overseeing a heterogeneous market, with\u00a0carbon accounting and crediting<\/a>\u00a0principles that vary in sometimes substantial ways, there would be a centralised methodology and set of best practices. Ideally, this would\u00a0lead to better carbon credits<\/a>, faster recognition of problems when claims fall short, and transparent price discovery allowing buyers to differentiate between credits of higher or lower quality.<\/p>\n

Increasing Government Involvement in Voluntary Markets
\n<\/strong>There is a longer-term trend developing in which governments are taking larger roles in designing, moderating, and, to a limited extent, regulating voluntary markets. CSIS published\u00a0research in May\u00a0that reviewed some of these market arrangements that incorporate elements of government involvement in voluntary markets. Globally there are several market\u00a0initiatives in which governments<\/a>\u00a0have worked to create domestic voluntary markets. In\u00a0Japan, the GX league is a central component of the country\u2019s energy transition goals;\u00a0over 600 companies representing 40 percent of domestic emissions joined the league pledging to\u00a0reduce emissions<\/a>\u00a0and offset remaining emissions. These hybrid arrangements could help to regulate the demand side of the voluntary market and set expectations for the supply side of the market.<\/p>\n

While the results of these three efforts are uncertain, there is a growing recognition that voluntary markets need some guardrails. Today, voluntary markets are a Wild West\u2014a space in which rules are either missing or loosely enforced. The past year showed that companies are increasingly wary of the potential pitfalls that result from claims that are not backed up by credible emissions reductions. Despite this, voluntary markets can be a useful tool to combat\u00a0climate change and accelerate the energy<\/a>\u00a0transition. A global\u00a0carbon price<\/a>\u00a0is unlikely to emerge any time soon, but there is a real desire from many companies to reduce emissions and reach net zero. There is also a growing recognition that\u00a0financing the energy transition and climate<\/a>\u00a0mitigation in developing countries is of critical importance. Voluntary\u00a0carbon markets<\/a>\u00a0can help; the overarching problem is building infrastructure that enables greater information on projects, the quality of credits, and the goals of credit purchasers. These emerging initiatives aimed at better regulating the supply side of the market and better organizing the demand side could help to reset\u00a0voluntary markets on a better path<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

In voluntary carbon markets, buyers (like big companies with emissions) voluntarily purchase and trade in offsets generated from emissions reduction or removal projects elsewhere. And in early 2023 momentum was building for them, but that soon collapsed as evidence of greenwashing grew: forestry programs were significantly overestimating their value. Allegra Dawes at CSIS lays out […]<\/p>\n","protected":false},"author":4,"featured_media":4803,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-4801","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-latest-news"],"yoast_head":"\nChallenges in voluntary carbon markets - Department of Forest and Environment Economics| Sokoine University of Agriculture<\/title>\n<meta name=\"description\" content=\"In voluntary carbon markets, buyers (like big companies with emissions) voluntarily purchase and trade in offsets generated from emissions reduction or removal projects elsewhere. And in early 2023 momentum was building for them, but that soon collapsed as evidence of greenwashing grew: forestry programs were significantly overestimating their value.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.cfwt.sua.ac.tz\/foresteconomics\/challenges-in-voluntary-carbon-markets\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Challenges in voluntary carbon markets - Department of Forest and Environment Economics| Sokoine University of Agriculture\" \/>\n<meta property=\"og:description\" content=\"In voluntary carbon markets, buyers (like big companies with emissions) voluntarily purchase and trade in offsets generated from emissions reduction or removal projects elsewhere. And in early 2023 momentum was building for them, but that soon collapsed as evidence of greenwashing grew: forestry programs were significantly overestimating their value.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.cfwt.sua.ac.tz\/foresteconomics\/challenges-in-voluntary-carbon-markets\/\" \/>\n<meta property=\"og:site_name\" content=\"Department of Forest and Environment Economics| Sokoine University of Agriculture\" \/>\n<meta property=\"article:published_time\" content=\"2024-02-15T14:44:45+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.cfwt.sua.ac.tz\/foresteconomics\/wp-content\/uploads\/2024\/02\/iStock-1423404077_0.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"768\" \/>\n\t<meta property=\"og:image:height\" content=\"432\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Clever Gwakabale\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Clever Gwakabale\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"7 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.cfwt.sua.ac.tz\/foresteconomics\/challenges-in-voluntary-carbon-markets\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.cfwt.sua.ac.tz\/foresteconomics\/challenges-in-voluntary-carbon-markets\/\"},\"author\":{\"name\":\"Clever Gwakabale\",\"@id\":\"https:\/\/www.cfwt.sua.ac.tz\/foresteconomics\/#\/schema\/person\/1b270a0264d8aafad47aaab086e052cc\"},\"headline\":\"Challenges in voluntary carbon markets\",\"datePublished\":\"2024-02-15T14:44:45+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.cfwt.sua.ac.tz\/foresteconomics\/challenges-in-voluntary-carbon-markets\/\"},\"wordCount\":1497,\"image\":{\"@id\":\"https:\/\/www.cfwt.sua.ac.tz\/foresteconomics\/challenges-in-voluntary-carbon-markets\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.cfwt.sua.ac.tz\/foresteconomics\/wp-content\/uploads\/2024\/02\/iStock-1423404077_0.jpg\",\"articleSection\":[\"Latest News\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.cfwt.sua.ac.tz\/foresteconomics\/challenges-in-voluntary-carbon-markets\/\",\"url\":\"https:\/\/www.cfwt.sua.ac.tz\/foresteconomics\/challenges-in-voluntary-carbon-markets\/\",\"name\":\"Challenges in voluntary carbon markets - Department of Forest and Environment Economics| Sokoine University of Agriculture\",\"isPartOf\":{\"@id\":\"https:\/\/www.cfwt.sua.ac.tz\/foresteconomics\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.cfwt.sua.ac.tz\/foresteconomics\/challenges-in-voluntary-carbon-markets\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.cfwt.sua.ac.tz\/foresteconomics\/challenges-in-voluntary-carbon-markets\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.cfwt.sua.ac.tz\/foresteconomics\/wp-content\/uploads\/2024\/02\/iStock-1423404077_0.jpg\",\"datePublished\":\"2024-02-15T14:44:45+00:00\",\"author\":{\"@id\":\"https:\/\/www.cfwt.sua.ac.tz\/foresteconomics\/#\/schema\/person\/1b270a0264d8aafad47aaab086e052cc\"},\"description\":\"In voluntary carbon markets, buyers (like big companies with emissions) voluntarily purchase and trade in offsets generated from emissions reduction or removal projects elsewhere. And in early 2023 momentum was building for them, but that soon collapsed as evidence of greenwashing grew: forestry programs were significantly overestimating their value.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.cfwt.sua.ac.tz\/foresteconomics\/challenges-in-voluntary-carbon-markets\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.cfwt.sua.ac.tz\/foresteconomics\/challenges-in-voluntary-carbon-markets\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.cfwt.sua.ac.tz\/foresteconomics\/challenges-in-voluntary-carbon-markets\/#primaryimage\",\"url\":\"https:\/\/www.cfwt.sua.ac.tz\/foresteconomics\/wp-content\/uploads\/2024\/02\/iStock-1423404077_0.jpg\",\"contentUrl\":\"https:\/\/www.cfwt.sua.ac.tz\/foresteconomics\/wp-content\/uploads\/2024\/02\/iStock-1423404077_0.jpg\",\"width\":768,\"height\":432},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.cfwt.sua.ac.tz\/foresteconomics\/challenges-in-voluntary-carbon-markets\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.cfwt.sua.ac.tz\/foresteconomics\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Challenges in voluntary carbon markets\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.cfwt.sua.ac.tz\/foresteconomics\/#website\",\"url\":\"https:\/\/www.cfwt.sua.ac.tz\/foresteconomics\/\",\"name\":\"Department of Forest and Environment Economics| Sokoine University of Agriculture\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.cfwt.sua.ac.tz\/foresteconomics\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.cfwt.sua.ac.tz\/foresteconomics\/#\/schema\/person\/1b270a0264d8aafad47aaab086e052cc\",\"name\":\"Clever Gwakabale\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.cfwt.sua.ac.tz\/foresteconomics\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/012035bf0488abcf0e0f96a15d5bf388c085b36297bd686469012c38bde512c8?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/012035bf0488abcf0e0f96a15d5bf388c085b36297bd686469012c38bde512c8?s=96&d=mm&r=g\",\"caption\":\"Clever Gwakabale\"},\"sameAs\":[\"https:\/\/www.cfwt.sua.ac.tz\/foresteconomics\"],\"url\":\"https:\/\/www.cfwt.sua.ac.tz\/foresteconomics\/author\/gwakabale\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Challenges in voluntary carbon markets - Department of Forest and Environment Economics| Sokoine University of Agriculture","description":"In voluntary carbon markets, buyers (like big companies with emissions) voluntarily purchase and trade in offsets generated from emissions reduction or removal projects elsewhere. And in early 2023 momentum was building for them, but that soon collapsed as evidence of greenwashing grew: forestry programs were significantly overestimating their value.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.cfwt.sua.ac.tz\/foresteconomics\/challenges-in-voluntary-carbon-markets\/","og_locale":"en_US","og_type":"article","og_title":"Challenges in voluntary carbon markets - Department of Forest and Environment Economics| Sokoine University of Agriculture","og_description":"In voluntary carbon markets, buyers (like big companies with emissions) voluntarily purchase and trade in offsets generated from emissions reduction or removal projects elsewhere. And in early 2023 momentum was building for them, but that soon collapsed as evidence of greenwashing grew: forestry programs were significantly overestimating their value.","og_url":"https:\/\/www.cfwt.sua.ac.tz\/foresteconomics\/challenges-in-voluntary-carbon-markets\/","og_site_name":"Department of Forest and Environment Economics| Sokoine University of Agriculture","article_published_time":"2024-02-15T14:44:45+00:00","og_image":[{"width":768,"height":432,"url":"https:\/\/www.cfwt.sua.ac.tz\/foresteconomics\/wp-content\/uploads\/2024\/02\/iStock-1423404077_0.jpg","type":"image\/jpeg"}],"author":"Clever Gwakabale","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Clever Gwakabale","Est. reading time":"7 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.cfwt.sua.ac.tz\/foresteconomics\/challenges-in-voluntary-carbon-markets\/#article","isPartOf":{"@id":"https:\/\/www.cfwt.sua.ac.tz\/foresteconomics\/challenges-in-voluntary-carbon-markets\/"},"author":{"name":"Clever Gwakabale","@id":"https:\/\/www.cfwt.sua.ac.tz\/foresteconomics\/#\/schema\/person\/1b270a0264d8aafad47aaab086e052cc"},"headline":"Challenges in voluntary carbon markets","datePublished":"2024-02-15T14:44:45+00:00","mainEntityOfPage":{"@id":"https:\/\/www.cfwt.sua.ac.tz\/foresteconomics\/challenges-in-voluntary-carbon-markets\/"},"wordCount":1497,"image":{"@id":"https:\/\/www.cfwt.sua.ac.tz\/foresteconomics\/challenges-in-voluntary-carbon-markets\/#primaryimage"},"thumbnailUrl":"https:\/\/www.cfwt.sua.ac.tz\/foresteconomics\/wp-content\/uploads\/2024\/02\/iStock-1423404077_0.jpg","articleSection":["Latest News"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.cfwt.sua.ac.tz\/foresteconomics\/challenges-in-voluntary-carbon-markets\/","url":"https:\/\/www.cfwt.sua.ac.tz\/foresteconomics\/challenges-in-voluntary-carbon-markets\/","name":"Challenges in voluntary carbon markets - Department of Forest and Environment Economics| Sokoine University of Agriculture","isPartOf":{"@id":"https:\/\/www.cfwt.sua.ac.tz\/foresteconomics\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.cfwt.sua.ac.tz\/foresteconomics\/challenges-in-voluntary-carbon-markets\/#primaryimage"},"image":{"@id":"https:\/\/www.cfwt.sua.ac.tz\/foresteconomics\/challenges-in-voluntary-carbon-markets\/#primaryimage"},"thumbnailUrl":"https:\/\/www.cfwt.sua.ac.tz\/foresteconomics\/wp-content\/uploads\/2024\/02\/iStock-1423404077_0.jpg","datePublished":"2024-02-15T14:44:45+00:00","author":{"@id":"https:\/\/www.cfwt.sua.ac.tz\/foresteconomics\/#\/schema\/person\/1b270a0264d8aafad47aaab086e052cc"},"description":"In voluntary carbon markets, buyers (like big companies with emissions) voluntarily purchase and trade in offsets generated from emissions reduction or removal projects elsewhere. And in early 2023 momentum was building for them, but that soon collapsed as evidence of greenwashing grew: forestry programs were significantly overestimating their value.","breadcrumb":{"@id":"https:\/\/www.cfwt.sua.ac.tz\/foresteconomics\/challenges-in-voluntary-carbon-markets\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.cfwt.sua.ac.tz\/foresteconomics\/challenges-in-voluntary-carbon-markets\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.cfwt.sua.ac.tz\/foresteconomics\/challenges-in-voluntary-carbon-markets\/#primaryimage","url":"https:\/\/www.cfwt.sua.ac.tz\/foresteconomics\/wp-content\/uploads\/2024\/02\/iStock-1423404077_0.jpg","contentUrl":"https:\/\/www.cfwt.sua.ac.tz\/foresteconomics\/wp-content\/uploads\/2024\/02\/iStock-1423404077_0.jpg","width":768,"height":432},{"@type":"BreadcrumbList","@id":"https:\/\/www.cfwt.sua.ac.tz\/foresteconomics\/challenges-in-voluntary-carbon-markets\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.cfwt.sua.ac.tz\/foresteconomics\/"},{"@type":"ListItem","position":2,"name":"Challenges in voluntary carbon markets"}]},{"@type":"WebSite","@id":"https:\/\/www.cfwt.sua.ac.tz\/foresteconomics\/#website","url":"https:\/\/www.cfwt.sua.ac.tz\/foresteconomics\/","name":"Department of Forest and Environment Economics| Sokoine University of Agriculture","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.cfwt.sua.ac.tz\/foresteconomics\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.cfwt.sua.ac.tz\/foresteconomics\/#\/schema\/person\/1b270a0264d8aafad47aaab086e052cc","name":"Clever Gwakabale","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.cfwt.sua.ac.tz\/foresteconomics\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/012035bf0488abcf0e0f96a15d5bf388c085b36297bd686469012c38bde512c8?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/012035bf0488abcf0e0f96a15d5bf388c085b36297bd686469012c38bde512c8?s=96&d=mm&r=g","caption":"Clever Gwakabale"},"sameAs":["https:\/\/www.cfwt.sua.ac.tz\/foresteconomics"],"url":"https:\/\/www.cfwt.sua.ac.tz\/foresteconomics\/author\/gwakabale\/"}]}},"_links":{"self":[{"href":"https:\/\/www.cfwt.sua.ac.tz\/foresteconomics\/wp-json\/wp\/v2\/posts\/4801","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.cfwt.sua.ac.tz\/foresteconomics\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.cfwt.sua.ac.tz\/foresteconomics\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.cfwt.sua.ac.tz\/foresteconomics\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/www.cfwt.sua.ac.tz\/foresteconomics\/wp-json\/wp\/v2\/comments?post=4801"}],"version-history":[{"count":2,"href":"https:\/\/www.cfwt.sua.ac.tz\/foresteconomics\/wp-json\/wp\/v2\/posts\/4801\/revisions"}],"predecessor-version":[{"id":4804,"href":"https:\/\/www.cfwt.sua.ac.tz\/foresteconomics\/wp-json\/wp\/v2\/posts\/4801\/revisions\/4804"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.cfwt.sua.ac.tz\/foresteconomics\/wp-json\/wp\/v2\/media\/4803"}],"wp:attachment":[{"href":"https:\/\/www.cfwt.sua.ac.tz\/foresteconomics\/wp-json\/wp\/v2\/media?parent=4801"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.cfwt.sua.ac.tz\/foresteconomics\/wp-json\/wp\/v2\/categories?post=4801"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.cfwt.sua.ac.tz\/foresteconomics\/wp-json\/wp\/v2\/tags?post=4801"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}