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Zooming Out: The VCM is Integral to Climate Goals

Zooming Out: The VCM is Integral to Climate Goals

February 2, 2023

Flowcarbon is keenly aware that in recent weeks, several criticisms of the voluntary carbon market—and, in particular, of the REDD+ methodology—have been brought to light. We believe that these conversations are beneficial, and that they enable those involved in the space to improve and create an ever more efficient and robust mechanism for the verification and purchasing of carbon credits as part of an overall decarbonization strategy.

This next year is poised to be a critical inflection point for the voluntary carbon market, and the industry stands on the brink of incredible growth, depending on the path it chooses. Furthermore, we are at the beginning of a tidal wave of tech innovation converging on this market, which will serve to dramatically increase the accuracy and quality of the data that underpins all methodologies and the climate impact of projects. 

We at Flowcarbon believe the VCM is extremely important for a range of reasons, including:

  1. Carbon credits offer what is likely humanity’s best chance to close the massive funding gap that exists, estimated to be some $267 billion annually by 2030, for nature based solutions. Companies that participate in the voluntary carbon market are actually more likely to have set strong carbon reduction targets–and, long-term, it is widely accepted (including by the IPCC) that removals need to play a material role in the world’s efforts to get to net zero by 2050 or before. Corporations, via the VCM, can play a critical role in driving much-needed finance to projects, especially removals projects.
  2. The voluntary carbon market offers the best means of protecting our most valuable endangered forests, and encourages participants to support these projects through carbon finance.
  3. Offsetting through the voluntary carbon market is necessary for individuals, corporations and other entities to compensate for or neutralize emissions that have not yet been eliminated, by financing projects that reduce emissions or remove greenhouse gasses from the atmosphere. A scaled VCM increases the flow of capital to these projects, playing a critical role in meeting imperative international net zero goals.

Flowcarbon has always been committed to bringing efficiency, transparency and integrity to all aspects of the Voluntary Carbon Market. We encourage the tough conversations that take place every day around the industry, and are confident that the future for this market is robust. 

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