Scientific principles and transparency must lead the conversation about what 'counts' for carbon credits to build confidence in the voluntary carbon market (VCM). This report outlines a roadmap for the VCM to overcome recent criticism and rebuild trust through science by supporting projects that deliver real emissions reductions, as well as redistribute finance and meaningful co-benefits to local communities where projects are based.

Acknowledging the current limits of the VCM, the report provides guidance on the application of rigorous scientific principles across measurement, monitoring and reporting in order to create a reformed market that has potential to make a much-needed contribution to climate efforts. It also sets boundaries for the legitimate use of carbon credits, stressing that they cannot be used to leave carbon removal and carbon sink preservation to market forces, nor can vulnerable ‘green’ carbon sinks meaningfully offset ‘black’ carbon emissions (i.e., GHG).

The report further emphasises the need for standardisation of monitoring, reporting and verification (MRV) practices within the VCM in order to ensure emissions reductions delivered by each credit are real and verifiable.

CCAG also recommends the establishment of independent oversight bodies at a national, regional, and global level to regulate and standardise carbon credits based on quality and performance rather than quantity of offsets.