Biden Administration Introduces Stricter Guidelines for Voluntary Carbon Markets

New principles aim to restore confidence and ensure real emissions reductions amid widespread skepticism and past failures.

The guidelines emphasize credible and verifiable emissions reductions and environmental justice safeguards.
Corporations must prioritize reducing their own emissions before purchasing carbon credits.
The principles align with recommendations from nonprofit governance bodies like the Integrity Council for Voluntary Carbon Markets.
Critics argue that nonbinding guidelines may not be enough to address fundamental issues in the carbon offset market.
The Biden administration views high-integrity carbon markets as essential for achieving climate goals and attracting private investment.