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The Low Carbon Economy Ltd

20 Nov 2007 03:11:57

New standard aims to regulate carbon-offsetting

A new standard has been launched aiming to boost confidence and transparency in the carbon-offsetting market.

The Voluntary Carbon Standard (VCS) aims to certify voluntary carbon offsets bought by both businesses and individuals as they aim to reduce their carbon footprint.

Its developers hope that its introduction will encourage the continued growth of the carbon-offsetting sector, allowing anyone purchasing offsets to trust the scheme they are buying into.

In a statement, Mark Kenber, co-chair of the VCS steering committee, said: "The VCS means business and consumer buyers can now trust the offsets they buy."

"Its robust quality assurance will trigger a new global confidence in the voluntary market from corporate buyers, consumers, and policy-makers. The VCS is vital for the environment and for growth of an important global market," he added.

According to the VCS, annual transactions in the voluntary carbon market are set to reach $4 billion (£2 billion) within the next five years.ADNFCR-1235-ID-18362631-ADNFCR

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