Shell reiterates its commitment to the voluntary carbon market (VCM) with plans to spend $450 million on carbon offsetting. Concerns are growing though about the type of credits to be bought, as worry about baselines for afforestation credits raises greenwash concerns.
Verra, a leading standards organisation and registry for carbon offsets, has been accused of issuing credits that fail to represent genuine emissions reductions. The resulting controversy is likely to come as a major setback to the development of the voluntary carbon market.
Thallo has signed a deal to sell up to €50 million worth of carbon credits to IMPT over ten years. It has several implications for voluntary carbon market (VCM) trading, including opening up participation to individuals through their online retail shopping activities, and the tokenisation of credits.