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A promise made is not a promise kept: Scaling voluntary carbon markets accountability with federal agency collaboration

Espenan, Nicholas
Abstract
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Voluntary carbon markets currently face challenges in standardization, quality assurance, trust, transparency, permanence, and additionality. A lack of standardization and quality assurance can lead to confusion and difficulty in comparing different carbon credits. Trust and transparency are essential for maintaining the market's integrity and attracting investment. Lastly, permanence and additionality are critical for driving new carbon reductions. These issues hinder the voluntary carbon market and limit the potential for carbon credits to reduce greenhouse gas emissions. This thesis suggests an effective federal regulatory policy focusing on the verification and standardization of carbon credit calculation in the voluntary carbon market in the United States. The CFTC, in cooperation with other agencies, has the authority to create a compliance measure that keeps projects and verifiers accountable. The policy should increase transparency and legitimacy of carbon credits in the voluntary market. Collaborative interagency efforts and shared enforcement among present market participants can enhance accessibility, transparency, and credibility of the voluntary carbon market while guaranteeing new carbon calculation methodologies to be legitimate.
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University of Wyoming. Libraries
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Keywords
Voluntary carbon market , Carbon markets , Carbon sequestration
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