Featured Research

from universities, journals, and other organizations

Voluntary Carbon Standard Lacks Credibility, WWF Argues

Date:
November 29, 2007
Source:
World Wildlife Fund
Summary:
A new standard for carbon offsets fails to guarantee climate benefits and promote sustainable development, and could further increase insecurity and volatility in the carbon offsets market, says WWF. Carbon buyers using the Voluntary Carbon Standard will remain exposed to significant risk, they say.

Niederaussem power plant , coal-fired (lignite), run by RWE. Near Cologne in North-Rhine Westphalia, Germany . Houses next to cooling towers.
Credit: Copyright WWF-Canon / Andrew Kerr

A new standard for carbon offsets fails to guarantee climate benefits and promote sustainable development, and could further increase insecurity and volatility in the carbon offsets market, says WWF.

The Voluntary Carbon Standard (VCS), launched by the Climate Group, the International Association for Emission Trading, and the World Business Council for Sustainable Development, is meant to set a minimum benchmark for the quality of carbon offsets. It is designed to offer the most basic set of rules, focused primarily on lowering transaction costs and carbon prices to consumers.

WWF argues, however, that the VCS cannot guarantee that accredited projects really reduce climate-damaging emissions, and its verification systems are insufficient. By waiving all environmental and social safeguards as well as requirements for stakeholder consultation, the VCS substantially increases the non-carbon risks of VCS projects.

"This new standard simply lacks credibility," says Liam Salter of WWF-Hong Kong.

"Carbon buyers using the VCS will remain exposed to significant risk. The VCS cannot guarantee that credits are real nor projects valuable to host countries."

WWF recommends buyers take extra steps to ensure they are acting responsibly.

Foregoing many essential checks and balances in terms of managing both carbon and non-carbon risk, the VCS appears to rely to a considerable degree on the goodwill and integrity of project developers whose commercial success depends on the sales of credits. WWF believes that this approach carries significant potential risk for buyers and the environment.

"The voluntary carbon offset market is becoming like the Wild West," says Hans Verolme, Director of WWF's Global Climate Change Programme.

"We are concerned that bad offset projects will register under the VCS to make a quick buck. If the VCS Board is serious about its standard they should screen its impact in a very transparent way and show they are ready to make improvements."

Carbon offsetting, if used appropriately, could play a limited part in strategies to reduce carbon emissions and contribute to sustainable development, helping to catalyze the transition globally to a low-carbon economy.

The voluntary market could also help: projects to be undertaken in countries where capacity and expertise in applying Clean Development Mechanism accreditation is lacking; enable small projects to gain access to the carbon markets; and provide a test bed that allows innovation and testing of new technologies and ideas.


Story Source:

The above story is based on materials provided by World Wildlife Fund. Note: Materials may be edited for content and length.


Cite This Page:

World Wildlife Fund. "Voluntary Carbon Standard Lacks Credibility, WWF Argues." ScienceDaily. ScienceDaily, 29 November 2007. <www.sciencedaily.com/releases/2007/11/071126143333.htm>.
World Wildlife Fund. (2007, November 29). Voluntary Carbon Standard Lacks Credibility, WWF Argues. ScienceDaily. Retrieved September 2, 2014 from www.sciencedaily.com/releases/2007/11/071126143333.htm
World Wildlife Fund. "Voluntary Carbon Standard Lacks Credibility, WWF Argues." ScienceDaily. www.sciencedaily.com/releases/2007/11/071126143333.htm (accessed September 2, 2014).

Share This




More Earth & Climate News

Tuesday, September 2, 2014

Featured Research

from universities, journals, and other organizations


Featured Videos

from AP, Reuters, AFP, and other news services

Raw: Thousands of Fish Dead in Mexico Lake

Raw: Thousands of Fish Dead in Mexico Lake

AP (Sep. 2, 2014) — Over 53 tons of rotting fish have been removed from Lake Cajititlan in western Jalisco state. Authorities say that the thousands of fish did not die of natural causes. (Sep. 2) Video provided by AP
Powered by NewsLook.com
Raw: Iceland Volcano Spewing Smoke

Raw: Iceland Volcano Spewing Smoke

AP (Sep. 2, 2014) — The alert warning for the area surrounding Iceland's Bardarbunga volcano was kept at orange on Tuesday, indicating increased unrest with greater potential for an eruption. Smoke is spewing from the volcano, and lava is spouting nearby. (Sept. 2) Video provided by AP
Powered by NewsLook.com
U.N. Says Ebola Travel Restrictions Will Cause Food Shortage

U.N. Says Ebola Travel Restrictions Will Cause Food Shortage

Newsy (Sep. 2, 2014) — The U.N. says the problem is two-fold — quarantine zones and travel restrictions are limiting the movement of both people and food. Video provided by Newsy
Powered by NewsLook.com
Sharks Off the Menu and on the Tourist Trail in Palau

Sharks Off the Menu and on the Tourist Trail in Palau

AFP (Sep. 2, 2014) — Tourists in Palau clamour to dive with sharks thanks to a pioneering conservation initiative -- as the island nation plans to completely ban commercial fishing in its vast ocean territory. 01:15 Video provided by AFP
Powered by NewsLook.com

Search ScienceDaily

Number of stories in archives: 140,361

Find with keyword(s):
 
Enter a keyword or phrase to search ScienceDaily for related topics and research stories.

Save/Print:
Share:  

Breaking News:
from the past week

In Other News

... from NewsDaily.com

Science News

Health News

Environment News

Technology News



Save/Print:
Share:  

Free Subscriptions


Get the latest science news with ScienceDaily's free email newsletters, updated daily and weekly. Or view hourly updated newsfeeds in your RSS reader:

Get Social & Mobile


Keep up to date with the latest news from ScienceDaily via social networks and mobile apps:

Have Feedback?


Tell us what you think of ScienceDaily -- we welcome both positive and negative comments. Have any problems using the site? Questions?
Mobile iPhone Android Web
Follow Facebook Twitter Google+
Subscribe RSS Feeds Email Newsletters
Latest Headlines Health & Medicine Mind & Brain Space & Time Matter & Energy Computers & Math Plants & Animals Earth & Climate Fossils & Ruins