A key oversight body has approved new standards for nature-based offsets, a move that could help restore investors’ confidence in a market battered by greenwashing concerns.
More than 400 million nature-based offsets currently in the pipeline are set to be eligible for the Core Carbon Principles label set by the Integrity Council for the Voluntary Carbon Market. The credits fall under three so-called REDD+ methodologies newly approved by the body, with each credit representing a ton of CO2 emissions avoided through preventing deforestation. REDD+ refers to reducing emissions from deforestation and forest degradation in developing countries.
