Paris summit: VCMs are needed to counter lack of public funds, says Kerry

The creation of the Voluntary Carbon Markets Integrity Initiative could help to increase the quality of carbon credits and push ahead with the green transition, says US climate envoy John Kerry at the New Global Financing Pact summit.

Voluntary carbon markets are often dogged by negative headlines, but in a barnstorming speech at a side event during the Summit for a New Global Financing Pact in Paris, US climate envoy John Kerry insisted they were a vital part of the climate puzzle in terms of removing emissions and helping developing countries finance their energy transition, and referenced changes that were being wrought to bring more integrity to the market.