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As an increasing number of companies commit to reducing emissions, and investors demand clear, credible transition plans, a well-functioning voluntary carbon market will be critical to reaching net zero and net negative goals. To meet this growing demand the current market will need to scale at least 15x, and potentially 160x. 

The Taskforce on Scaling Voluntary Carbon Markets, launched by Mark Carney, UN Special Envoy for Climate Action and Finance Advisor to UK Prime Minister Boris Johnson for COP26, is chaired by Bill Winters, Group Chief Executive, Standard Chartered and sponsored by the Institute of International Finance (IIF) under the leadership of IIF President and CEO, Tim Adams. Annette Nazareth, a partner at Davis Polk and former Commissioner of the U.S. Securities and Exchange Commission, will serve as Operating Lead for the Taskforce, and McKinsey & Company will provide knowledge and advisory support.

The Taskforce itself is comprised of more than 40 leaders from six continents with backgrounds across the carbon market value chain. Participants bring expertise from the financial sector, market infrastructure providers, and buyers and suppliers of carbon offsets. 

In the coming months, the Taskforce will take stock of existing voluntary carbon markets and efforts to grow these markets, identify key challenges and impediments, build consensus on how best to scale up voluntary carbon markets and finally, present a blueprint of actionable solutions.
 

Recent Publications

Charter for Taskforce on Scaling Voluntary Carbon Markets – Phase 2

This document sets out the charter for Phase 2 of the Taskforce on Scaling Voluntary Carbon Markets.

Taskforce on Scaling Voluntary Carbon Markets Establishes Advisory Board and Working Groups to Drive the Development & Implementation Phase

Today, the Taskforce on Scaling Voluntary Carbon Markets formally launched the Development & Implementation Phase, with a newly formed Advisory Board and three Working Groups.

Taskforce Establishes Core Carbon Principles, Publishes Roadmap for Scaling Voluntary Carbon Markets

Today, the Taskforce on Scaling Voluntary Carbon Markets published its blueprint on creating a large-scale, transparent carbon credit trading market. To limit atmospheric warming to 1.5°C, the world must halve existing greenhouse gas emissions by 2030 and achieve net-zero emissions by 2050. Every business needs to adjust its business model and develop credible transition plans.

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TSVCM Final Report

Today, the Taskforce on Scaling Voluntary Carbon Markets published its blueprint on creating a large-scale, transparent carbon credit trading market. To limit atmospheric warming to 1.5°C, the world must halve existing greenhouse gas emissions by 2030 and achieve net-zero emissions by 2050. Every business needs to adjust its business model and develop credible transition plans.

A large-scale voluntary carbon market is critical to reaching the goals of the Paris Agreement – it will enable more companies to turn net-zero commitments into action through investments in emissions abatement projects, where they will have the most effect.

 

 

 

 

 

What We're Saying

 

 

Who We Are

TSVCM Members
Taskforce Members
Jeff Huang, AEX
Mary Grady, American Carbon Registry & ART
Jonathan Dean, AXA
Abyd Karmali, Bank of America
Ricardo Laiseca, BBVA
Sandra Boss, BlackRock
Kyle Harrison, Bloomberg NEF
Francois Carre, BNP
Amy J. Bann, Boeing
Enric Arderiu, BP
Robert Coviello, Bunge
Edward Hanrahan, ClimateCare
Aliyu Suleiman, Dangote
Mikkel Larsen, DBS
Stephanie Zhu, Delta Airlines
Kimberly Chan, DSM
Jane Ashton, easyJet
Gerald Maradan, Eco-Act
Zhao Jin Ling, Elion Resources
Maryam Bin Fares, Etihad
Jochen Gassner, First Climate Solutions
Uday Senapati, Geely
Owen Hewlett, Gold Standard
Kara Mangone, Goldman Sachs
Peter Zaman, HFW
Anthony Belcher, ICE
Kathy Benini, IHS Markit
Isabela Almeida, Itãu Unibanco
Joshua Were, KenGen
Claire Dorrian, London Stock Exchange Group
Scobie Mackay, Macquarie
Emma Mazhari, Mærsk Mc-Kinney Møller Center for Zero Carbon Shipping
Anirban Ghosh, Mahindra
Jonathan Shopley, Natural Capital Partners, ICROA
Esteban Mezzano, Nestlé
Wiebe Draijer, Rabobank
Paul Dawson, RWE
Jonty Rushforth, S&P Global Platts
Max Scher, Salesforce
Bill McGrath, Shell
Volker Hessel, Siemens
Ingo Puhl, South Pole
Chris Leeds, Standard Chartered
Koushik Chatterjee, Tata
Sebastien Pascual, Temasek
Pascal Siegwart, Total
Rasmus Bach Nielsen, Trafigura
Huw Vansteenis, UBS
Thomas Lingard, Unilever
David Antonioli, Verra
Guillaume Quiviger, Vitol
Ingrid York, White & Case
John Melby, XCHG

Consultative Group

Sandra Phlippen, ABN AMRO
Philippe Richard, Abu Dhabi Global Markets
Federico Di Credico, ACT
Mark Cutis, ADNOC
Mohamed Al Obaidli, ADNOC
Gareth Phillips, African Development Bank
Mostyn Brown, AFRY
William Pazos, AirCarbon
Ali Adnan Ibrahim, Al Baraka Banking Group
Tommi Neuvonen, Allcot
Antony Longhurst, Alliances for Global Sustainability
Marc-Gregor Czaja, Allianz
Anton Root, Allied Crowds
Bill Kentrup, Allinfra
Christina Magerkurth, American Carbon Registry
Tobias Parker, Anthesis
David Grundlingh, AQ Green TeC
Annie Heaton, ArcelorMittal
Eleanor Green, Argus Media
Kirstin Munro, Ashurst
Virender Kumar Duggal, Asian Development Bank
Ilona Millar, Baker McKenzie
Merida de la Pena, Bank of America
Allison Fleming, Bank of America
Vedant Walia, Barclays
Dewey McLemore, BCarbon
Marcel Steinbach, BDEW
Beibei Song, Beijing Qianyuhui International Environmental Investment Co., Ltd
Anna Ozga, BHP
Simon Manley, Biochar Works
Steve Zwick, Bionic Planet
Benjamin Massie, Bluesource
Jeff Swartz, BP
Eric Trusiewicz, Breakthrough Energy Ventures
David Wei, BSR/Transform to Net Zero
Thuy Phung, BSR/Transform to Net Zero
Antonio ValleNeto, Bunge
Geoff Sinclair, Camco Clean Energy
Peng Er, Capitaland
Christophe Jospe, Carbon A List
Jonathan Goldberg, Carbon Direct
Gareth Hughes, Carbon Engineering
Anna Cockburn, Carbon Intelligence
Emma Watson, Carbon Intelligence
John Connor, Carbon Market Institute
Sabine Frank, Carbon Market Watch
Mike Knight, Carbon Tracker
Magda Korpal, Carbon Trade Exchange (CTX)
Phillipa Desiderio, Carbon Trade Exchange (CTX)
Lee Barton, Carbon Trade Exchange (CTX)
James Campbell, Carbon Trade Exchange (CTX)
Brian McFarland, Carbonfund.org
Andrea Maggiani, carbonsink
Clarissa Lins, Catavento
Andrew Pisano, CBL Markets
Tyler Tarnoczi, Cenovus Energy
Mindy Lubber, Ceres
Tim Atkinson, CF Partners
Julie Mulkerin, Chevron
Robin Green, CIBC
Dougal Matthew Corden, Citi
Carla Sateriale, City of London
Lee Beck, Clean Air Task Force
Nasser Saidi, Clean Energy Business Council MENA
Mathias Elspass , Clifford Chance
Craig Ebert, Climate Action Reserve
Robert Lee, Climate Action Reserve
Sascha Lafeld, ClimatePartner
Edoardo Bertin, ClimateSeed
Jessica Denoyelle, ClimateSeed
Francisco Benedito, ClimateTrade
Tim Stumhofer, ClimateWorks Foundation
Erik Cramer, ClimeCo
Peter Freudenstein, Climeworks
Hendrik Rosenthal, CLP Group
Sandip Saha, CLP India
Julie Winkler, CME Group
Paul Chiplen, Co2Balance
Ben Jordan, Coca-Cola
Ingo Ramming, Commerzbank
Shyla Raghav, Conservation International
Jim Whitestone, Convergence.Tech
Dee Lawrence, Cool Effect
Richard M. Manley, CPP Investment Board
Ken Newcombe, C-Quest Capital
Simon Göss, cr.hub
Peter Renner, Development and Climate Finance Foundation
Liron Brish, Deveron
Steven Gray, DLA Piper UK LLP
Edwin Aalders, DNV GL
Will Gardiner, Drax
Ivano Iannelli, Dubai Carbon Centre of Excellence (DCCE)
Jose Tumkaya, Ecosecurities
Lisa Walker, Ecosphere
Michael Jenkins, Ecosystem Marketplace
Stephen J. Donofrio, Ecosystem Marketplace
Manuel Möller, EEX
Jan Haizmann, EFET
Daria Nochevnik , EFET
Aygul Avtakhova, EFET
Eron Bloomgarden, Emergent
Srdjan Susic, Emirates Nature
Melissa Lindsay, emstream
John White, EMTEC
Pavan Kumar, EnKing
Jan-Willem van de Ven, European Bank for Reconstruction and Development
Brian Rice, ever.ag
Walt Lukken, FIA
Sue Phillips, Gender Tech Enterprises
Richard Stephenson, Gestion Maritime
Shang Thong Chie, gic
Wayne Sharpe, Global Environmental Markets
Ingmar Grebien, Goldman Sachs
Kelli Wright, Google
Tom Astor, Gresham House
Garret Zarembo, GZ Energy, LLC
Olivier Levallois, Hamerkop Climate Impacts
Ariel Perez, Hartree
Joseph Azrack, Harvard University
Grace Hui, Hong Kong Exchange
Chris Williamson, ICBC Standard Bank
Jinny Yan, ICBC Standard Bank
Pedro Soares, IDESAM
Meian Chen, IFS Markets
Daisy Streatfeild, IIGCC
Bruno de Almeida Castigioni, Imaflora
Ben Readman, Independent
Marcel van Heesewijk, Independent
Domenic Carratu, Independent
Paul DeNoon, Independent
Mark Tercek, Independent
Peter Ebsen, Independent
Johan Van Vuuren, Independent
Ed Smith, Indigo
Osamu Odawara, Inpex
Nick Blyth, Institute of Environmental Management and Assessment (IEMA)
Yunwen Bai, Institute of Finance and Sustainability (IFS)
Sacha Thacker, InterContinental Energy
Anup Jagwani, International Finance Corporation (IFC)
Thais Drozdowski, Inuk
Kris Nathanail-Brighton, IOSCO
Alp Eroglu, IOSCO
Anna Roberts, IOV42
Kris Rimar , IOV42
Derya Sargin Malkoç, Isbank
Scott O’Malia, ISDA
Junji Katto, Itãu Unibanco
Christopher Calger, JPMorgan Chase
Stuart Kinder, JPMorgan Chase
Debra Stone, JPMorgan Chase
Marisa Buchanan, JPMorgan Chase
Calvin Kwan, Link
Hugo Brodie, London Metal Exchange
Ibrahim Al Zubi, Majid Al Futtaim Holding
Liz Willmott, Microsoft
Masao Koyama, Mitsubishi
Karen Kochonies, Morgan Stanley
David Lunsford, MSCI Climate Risk Center
Tatjana Greil-Castro, Muzinich & Co
James Close, NatWest
Anna Dubowik, Negative Emissions Platform
Elisa de Wit, Norton Rose Fulbright
Angelica Kemene, Optima-X
Taku Ide, Origin Energy
William Swetra, Oxy Low Carbon Ventures
Julian Richardson, Parhelion
Kate Brown, Parhelion
Brennan Spellacy, Patch
Matthias Krey, Perspectives Climate Group
Scott Mather, PIMCO
Martijn Wilder, Pollination
Mark A Wilson, Preservation Advisors
Ian P. Milborrow, PricewaterhouseCoopers LLP
Dharsono Hartono, PT. Rimba Makmur Utama
Luke Shore, Quadrature Climate Foundation
Annette Harris, Rabobank
Alastair Handley, Radicle Balance
Louis Redshaw, Redshaw Advisors
Clive Bastin, RELX
Lisa DeMarco, Resilient LLP
Lena Hörnlein, responsAbility Investments AG
Paolo Natali, Rocky Mountain Institute
David Mann, Rocky Mountain Institute
Felix Euler, Rokos Capital
Steffan Kram, Santander
Storm Potts, Sasol South Africa
Jonny Gilson, SCB
Tom Enger, SGX
Xing'an GE, Shenzhen Green Finance Committee
Zack Parisa, SilviaTerra
Harriet Hunnable, Soft Power Capital
Jim Butterworth, Solidatus
John Tobin, Solidatus
Mike Christensen , South West Catchments Council
Juan Carlos Castilla Rubio, Spacetimeventures
Richard Jackson, Standard Gas
Nadine Chakar, State Street Corporation
Jeremy Grant, Stephenson Harwood
Derik Broekhoff, Stockholm Environment Institute
Fabio Moro, STX Group
Thomas Blackburn, SustainCERT
Cristiano Resende de Oliveira, Suzano
Julio Cesar Natalense, Suzano
Mauro Paradella da Silva, Suzano
Morten Rossé, Systemiq
Duncan Scott, T. Rowe Price
Richard Rose, Tabreed
Josh Brown, TASC
Leslie Durschinger, Terra Global Capital
Christopher Webb, The Nature Conservancy
Johan Krebbers, The Open Group
Oliver Toohey, The Pew Charitable Trusts
Raluca Dirjan, Total
Jonathan Gilmour, Travers Smith
Susan Zhu, Treasure Carbon
Wendy Miles, Twenty Essex
Tasos Zavitsanakis, UBS
Judson Berkey, UBS
Barbara Haya, UC Berkeley
Justin Macinante, University of Edinburgh
Eli Mitchell-Larson, University of Oxford
Hugo Barreto, Vale
Tim Mealey, VCMIi
Jerry Seager, Verra
Aymeric de Conde, Vertis
James Smith, WBCSD
Anna Lehmann, Wildlife Works
Marc Sadler, World Bank Group
John Holler, WWF
Adam Linton, Xange
Cameron Prell, Xpansiv
Maya Sidler, Zurich
Daniel de Vries, ACT Commodities
Diego de Velasco, African Development Bank
Lucy Naydenova, African Development Bank
Holly Buschman, BHP
Oliver Miltenberger, Carbon A List
Gilles Dufrasne, Carbon Market Watch
Pedro Faria, CDP
Fred Payne, CF Partners
Ines Righi, City of London
Edoardo Bertin, ClimateSeed
Michelle Parra, ClimateSeed
Jose Lindo, ClimateTrade
Siddharth Yadav, Cool Effect
Gesa Schöneberg, Development and Climate Finance Foundation
Leda Ankel, Development and Climate Finance Foundation
Olivia Henke, Development and Climate Finance Foundation
Angela Hepworth, Drax
Kimberley Chan, DSM
Pablo Fernandez, Ecosecurities
Markus Hüwener, EEX
Sachhin Patra, EnKing
Yash Lakhotia, EnKing
Christa Ogata, Environmental Defense Fund
Angela Delfino, European Bank for Reconstruction and Development
Dmitry Halubouski, European Bank for Reconstruction and Development
Deborah North, FIA
Kyle Glenn, FIA
Athena Eastwood, FIA / Willkie Farr & Gallagher
Jeremy Manion, ICROA
Jose Lazuen, IIGCC
Renata Fragoso Potenza, Imaflora
Wenxin Li, International Finance Corporation (IFC)
Kiyoshi Okumura, International Finance Corporation (IFC)
Peter Werner, ISDA
Marley Gray, Microsoft
Yousuke Kuroda, Mitsubishi
Takashi Hongo, Mitsubishi
Hiroyuki Nakamura, Mizuho
William McCoy, Morgan Stanley
Ed Zabrocki, Morgan Stanley
Lisa Cherkas, Morgan Stanley
Naresh Vyas, NatWest
Bill Gilbert, NatWest
Andrew Hedges, Norton Rose Fulbright
Greg Sharenow, PIMCO
Robert Jesudason, Pollination
Barbara Baarsma, Rabobank
David Mazaira, responsAbility Investments AG
Charles Cannon, Rocky Mountain Institute
Valentina Guido, Rocky Mountain Institute
Ben Nelson, Rokos Capital
Paula VanLaningham, S&P Global Platts
Shamini Harrington, Sasol South Africa
Anne Jenkins, Soft Power Capital
Noel Quinn, Sustainable Markets Initiative
Riyad Hammad, Tabreed
Jason Norman, Temasek
Vivian MacKnight, Vale
Harikumar Gadde, World Bank Group
Chandra Shekhar Sinha, World Bank Group
Angela Churie Kallhauge, World Bank Group
Steven Witte, Xange
Justin d'Atri, Zurich
Taskforce Observers
Marisa de Belloy, High Tide Foundation
Tom Owens, High Tide Foundation
Zoe Knight, HSBC
Marie de Bazelaire, HSBC
John Denton, ICC
Stefano De Clara, IETA
Antoine Diemert, IETA
Dirk Forrister, IETA
Claire Mizutani, IETA
Anne-Marie Warris, ISO
Edward Rumsey, Permian Global
Bryony Worthington, Quadrature Climate Foundation
Cressida Pollock, Quadrature Climate Foundation
Guy Turner, Trove Research
Teresa Hartmann, World Economic Forum
Advisory Board Members
Günther Thallinger, Advisor
Jay Dessy, Breakthrough Energy
Nicolette Bartlett, CDP
Agustin Silvani, Conservation International
Kelley Kizzier, Environmental Defense Fund
Alexia Kelly, High Tide Foundation
Paula DiPerna, Independent Advisor
Tajinder Singh, IOSCO
Ben Pincombe, PRI
Mark Kenber, Quadrature Climate Foundation
Jon Creyts, Rocky Mountain Institute
Blas L. Perez Henriquez, Stanford University
Joe Murphy, Sustainable Markets Initiative
Myles Allen, University of Oxford
Peter Boyd, Yale University
Claire O'Neill, World Business Council for Sustainable Development
Cynthia Cummis, World Resources Institute
* Plus additional representatives from investor alliances and civil society