Understanding VCMs: Key considerations for CPAs
Many organizations are looking to carbon credits in Voluntary Carbon Markets to offset GHG emissions—here's what decision-makers should consider.
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Understanding voluntary carbon markets
This three-part series takes a deep dive into voluntary carbon markets and their challenges, providing insight into the world of carbon offsets for accountants, investors, regulators and policymakers.
Voluntary carbon markets (VCMs) have the potential to advance climate action by providing an avenue for organizations to offset their hard-to-abate greenhouse gas emissions. However, concerns about quality and integrity remain. This three-part series provides guidance in applying due diligence to decisions regarding VCMs and enhancing understanding of the potential for carbon markets as part of the infrastructure needed to support a sustainable transition. The research is a collaboration between CPA Canada, the International Federation of Accountants and the Institute for Sustainable Finance.
Based on this research, CPA Canada submitted a response to the International Organization of Securities Commissions (IOSCO) on their Consultation Report on Voluntary Carbon Markets. CPA Canada is supportive of IOSCOs efforts to promote the integrity, transparency and orderly functioning of VCMs and provided input regarding standardization initiatives, methodologies and qualifications required to validate and verify integrity as well as the importance of education to improve public knowledge of VCMs and the potential risks associated with them. Read our full submission and learn more about our other standards-setting and regulatory proposals.
Understanding VCMs: Canadian and Global use of VCMs
Financial accounting and disclosure of voluntary carbon credits have different considerations both nationally and globally. Here’s how to stay up to date on requirements.
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A CPA’s role in enhancing the integrity of VCMs
The third and final installment of our Voluntary Carbon Markets series will be available in 2025. Stay tuned.
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