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On discussing the accreditation and oversight of the voluntary carbon market and its verification bodies.
Meet the Dais
John Harris is a sophomore at Cypress Lake High School. This is his second year chairing at PantherMUNC, and he's excited to chair this topic. As Secretary-General, he has worked hard to
Helen Padron is a [] at Gateway High School. [go on] CO2
Topic Summary
In recent years, consumer pressure for corporations to reach net-zero carbon dioxide emissions has resulted in the creation of the voluntary carbon market (VCM). A company can generate a carbon credit by sponsoring or commissioning a project that removes one ton of carbon dioxide emissions. The project is approved by a registry and is certified by a private validation and verification body (VVB). Once everything is approved, the credits are awarded. In order for a company to claim it is “net-zero”, it must retire the credits through the registry they worked with, destroying the credits. Certain intergovernmental agencies and independent bodies have raised concerns about the validity or integrity of carbon credit registries and VVBs, specifically due to their lack of international regulation or accountability. These concerns might undermine confidence in carbon markets and affect investment decisions, climate commitments, and sustainable development goals. This committee will examine the role of potential frameworks for the accreditation, regulation, and oversight of carbon credit registries and verification bodies, with particular attention to the economic implications for global markets.
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