“Companies and the investment community are increasingly focused on supporting the transition to a net zero economy and developing credible transition plans. To achieve net zero, they will need to decarbonize and many will need to offset some emissions as part of the transition, creating a surge in demand for offsets. The financial sector can use their expertise in building market infrastructure to create a carbon offset market which connects this demand with supply. I am pleased that the experts from across the financial system as well as buyers and sellers of offsets will come together to create a blueprint for such a market. This collaboration could make an enormous contribution to supporting the whole economy transition required to achieve the climate goals that our society demands and future generations deserve."

“Since the Paris Agreement was signed five years ago, one of the key elements to support its goals, an effective international carbon market, has been missing. By scaling voluntary carbon markets and allowing a global price for carbon to emerge, companies will have the right tools and incentives to reduce emissions at least cost.

“I look forward to leading this group of highly talented market experts to help the private sector fully play its part in decarbonising the global economy through effective and efficient voluntary carbon markets”.

“Mitigating and adapting to climate change may be the most consequential challenge we face in our lifetime. Each of us has an obligation to future generations to do what we can, and the financial sector has a large role to play.

“By bringing experts from across the value chain to the table, this Taskforce will play an integral role in the development of an effective voluntary carbon market and will bring us a step closer to net zero emissions.”