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The Paris Agreement, agreed by 195 countries in 2016, created a new framework for how countries should cooperate to set and achieve climate targets. The Core Carbon Principles (CCPs) complement this framework by providing consistent integrity standards across international carbon markets.
As part of the Paris Agreement, Article 6 lays out rules and guidance for countries to cooperate with each other to achieve their national emissions reductions targets via carbon crediting and carbon trading between governments. This gives countries the tools to work collaboratively and mobilise finance for projects that reduce and remove emissions while also delivering adaptation and sustainable development co-benefits.
Established at COP26 in Glasgow, the Integrity Council for the Voluntary Carbon Market is an independent governance body for the voluntary carbon market (VCM). Its Core Carbon Principles and related Assessment Framework together make up the first independent global standard for high-integrity carbon credits. The Integrity Council aims to provide standards and assurance for the voluntary carbon market that complement Article 6 and support companies and individuals to go further in their climate action.
It is critical that policy frameworks governing carbon market activity, including Article 6 and our Core Carbon Principles, align across compliance and voluntary markets. Here we explain how Article 6 and the Core Carbon Principles work together to speed up climate action.