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About Us

The Taskforce on Scaling Voluntary Carbon Markets is a private sector-led initiative working to scale an effective and efficient voluntary carbon market to help meet the goals of the Paris Agreement. 

The Taskforce was initiated by Mark Carney, UN Special Envoy for Climate Action and Finance; is chaired by Bill Winters, Group Chief Executive, Standard Chartered; and is sponsored by the Institute of International Finance (IIF) under the leadership of IIF President and CEO, Tim Adams. Annette Nazareth, senior counsel at Davis Polk and former Commissioner of the US Securities and Exchange Commission, serves as the Operating Lead for the Taskforce. McKinsey & Company provides knowledge and advisory support. 

The TSVCM’s over 250 member institutions, represent buyers and sellers of carbon credits, standard setters, the financial sector, market infrastructure providers, civil society, international organizations and academics. An advisory board of 20 environmental NGOs, investor alliances, academics and international organizations provide guidance on TSVCM recommendations. 
The Taskforce’s unique value proposition has been to bring all parts of the value chain to work intensively together and to provide recommended actions for the most pressing pain-points facing voluntary carbon markets.  

Recent Media Releases

Explanatory Note: Our Ambition, Timeline and Deliverables

This document offers a comprehensive overview of the Taskforce on Scaling Voluntary Carbon Markets, and our ambition to achieve a step-change in the scale of private, voluntary carbon markets in order to help limit global warming to 1.5 °C.

Private Sector Voluntary Carbon Markets Taskforce Established to Help Meet Climate Goals

Today, a private sector-led taskforce was launched to begin scaling Voluntary Carbon Markets, which need to be grown and consolidated to help meet the goals agreed in the Paris Climate Agreement.

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Phase II – Documents for Public Consultation

The Taskforce held Public Consultation between May 21st to June 21st 2021. Feedback from the consultation can be found below. The consultation contained three documents:

A main Public Consultation Report which covers four topics: A) Objectives and focus of the TSVCM B) Governance C) Legal Principles and Contracts D) Credit-Level Integrity

A deep-dive document on governance outlining the detailed terms of reference (ToR) for a new governance body and details on how interested parties can engage to discuss a potential role in the new governance body

A technical appendix containing the analyses which have informed the other two documents

Phase 2 – Feedback from the Public Consultation Held Between May 21st to June 21st, 2021

1. Structured public consultation survey responses covering questions as outlined in the Public Consultation Report.

2. Open letters with feedback

Phase 1- Final Report

In January 2021, 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
Sean Newsum, Boeing
Jeff Swartz, BP
Robert Coviello, Bunge
Edward Hanrahan, ClimateCare
Aliyu Suleiman, Dangote
Mikkel Larsen, DBS
Stephanie Zhu, Delta Airlines
Salla Sulasuo, DSM
Jane Ashton, easyJet
Gerald Maradan, Eco-Act
Zhao Jin Ling, Elion Resources
Maryam Bin Fares, Etihad
Urs Brodmann, First Climate
Uday Senapati, Geely
Owen Hewlett, Gold Standard
Kara Mangone, Goldman Sachs
Peter Zaman, HFW
Anthony Belcher, ICE
Kathy Benini, IHS Markit
Amy J. Bann, Independent
Jochen Gassner, Independent
Isabela Almeida, Itãu Unibanco
Joshua Were, KenGen
Claire Dorrian, London Stock Exchange Group
Scobie Mackay, Macquarie
Emma Mazhari, Mærsk
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, TotalEnergies
Rasmus Bach Nielsen, Trafigura
Huw Vansteenis, UBS
Thomas Lingard, Unilever
David Antonioli, Verra
Guillaume Quiviger, Vitol
Ingrid York, White & Case
John Melby, Xpansiv

Consultative Group

Sandra Phlippen, ABN AMRO
Philippe Richard, Abu Dhabi Global Markets
Federico Di Credico, ACT
Daniel de Vries, ACT Commodities
Mark Cutis, ADNOC
Mohamed Al Obaidli, ADNOC
Giulia Torri, Aequilibria S.r.l.
Diego de Velasco, African Development Bank
Gareth Phillips, African Development Bank
Lucy Naydenova, African Development Bank
Mostyn Brown, AFRY
William Pazos, AirCarbon
Ali Adnan Ibrahim, Al Baraka Banking Group
Tommi Neuvonen, Allcot
Matthew Townsend , Allen & Overy LLP
Antony Longhurst, Alliances for Global Sustainability
Marc-Gregor Czaja, Allianz
Anton Root, Allied Crowds
Bill Kentrup, Allinfra
Jamie Dujardin, Altruistiq
Saif Hameed, Altruistiq
Christina Magerkurth, American Carbon Registry
Nora Lovell Marchant, American Express Global Business Travel
Tobias Parker, Anthesis
Natalia Moudrak, Aon
David Grundlingh, AQ Green TeC
Annie Heaton, ArcelorMittal
Eleanor Green, Argus Media
Kirstin Munro, Ashurst
Virender Kumar Duggal, Asian Development Bank
Bradley Campbell, Australian Securities Exchange
Bahram N. Vakil, AZB & PARTNERS
Ilona Millar, Baker McKenzie
Allison Fleming, Bank of America
Merida de la Pena, Bank of America
Vedant Walia, Barclays
Dewey McLemore, BCarbon
Marcel Steinbach, BDEW
Beibei Song, Beijing Qianyuhui International Environmental Investment Co., Ltd
Anna Ozga, BHP
Holly Buschman, BHP
Simon Manley, Biochar Works
Luisa Cotrim, Biofilica
Steve Zwick, Bionic Planet
Benjamin Massie, Bluesource
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
Oliver Miltenberger, Carbon A List
Jonathan Goldberg, Carbon Direct
Geoff Holmes, Carbon Engineering
Lori Guerte, Carbon Engineering
Anna Cockburn, Carbon Intelligence
Emma Watson, Carbon Intelligence
John Connor, Carbon Market Institute
Gilles Dufrasne, Carbon Market Watch
Sabine Frank, Carbon Market Watch
Mike Knight, Carbon Tracker
James Campbell, Carbon Trade Exchange (CTX)
Lee Barton, Carbon Trade Exchange (CTX)
Magda Korpal, Carbon Trade Exchange (CTX)
Phillipa Desiderio, Carbon Trade Exchange (CTX)
Brian McFarland, Carbonfund.org
Andrea Maggiani, carbonsink
Clarissa Lins, Catavento
Andrew Pisano, CBL Markets
Pedro Faria, CDP
Tyler Tarnoczi, Cenovus Energy
Mindy Lubber, Ceres
Fred Payne, CF Partners
Tim Atkinson, CF Partners
Julie Mulkerin, Chevron
Dominique Barker, CIBC
Larry She, CIBC
Robin Green, CIBC
Ryan Fan, CIBC
Belinda Ellington, Citi
Dougal Matthew Corden, Citi
Carla Sateriale, City of London
Ines Righi, 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
Adriaan Korthuis, Climate Focus
Charlotte Streck, Climate Focus
Thiago Chagas, Climate Focus
Christophe Reidi, Climate Neutral Commodity Initiative
Geir Robinson, Climate Neutral Commodity Initiative
Paul Sebastien, Climate Neutral Commodity Initiative
Sascha Lafeld, ClimatePartner
Edoardo Bertin, ClimateSeed
Edoardo Bertin, ClimateSeed
Jessica Denoyelle, ClimateSeed
Michelle Parra, ClimateSeed
Francisco Benedito, ClimateTrade
Jose Lindo, ClimateTrade
Tim Stumhofer, ClimateWorks Foundation
Erik Cramer, ClimeCo
Louis Uzor, Climeworks
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
Mark W. McDivitt, Context Labs
Jim Whitestone, Convergence.Tech
Dee Lawrence, Cool Effect
Siddharth Yadav, Cool Effect
Étienne Middleton , CPP Investment Board
Fallon Maclean, CPP Investment Board
Maria Montero, CPP Investment Board
Richard M. Manley, CPP Investment Board
Samantha Hill, CPP Investment Board
Ken Newcombe, C-Quest Capital
Simon Göss, cr.hub
Murtaza Lilani, Deloitte
Liron Brish, Deveron
Steven Gray, DLA Piper UK LLP
Edwin Aalders, DNV
Angela Hepworth, Drax
Will Gardiner, Drax
Kimberley Chan, DSM
Ivano Iannelli, Dubai Carbon Centre of Excellence (DCCE)
Jose Tumkaya, Ecosecurities
Pablo Fernandez, Ecosecurities
Lisa Walker, Ecosphere
Michael Jenkins, Ecosystem Marketplace
Stephen J. Donofrio, Ecosystem Marketplace
Manuel Möller, EEX
Markus Hüwener, EEX
Aygul Avtakhova, EFET
Daria Nochevnik , EFET
Jan Haizmann, EFET
Eron Bloomgarden, Emergent
Marina Antonopoulou, Emirates Nature
Melissa Lindsay, emstream
John White, EMTEC
Pavan Kumar, EnKing
Sachhin Patra, EnKing
Yash Lakhotia, EnKing
Christa Ogata, Environmental Defense Fund
Bård I. Hamre, Equinor ASA
Angela Delfino, European Bank for Reconstruction and Development
Dmitry Halubouski, European Bank for Reconstruction and Development
Jan-Willem van de Ven, European Bank for Reconstruction and Development
Brian Rice, ever.ag
Alfonso Medrano Gutierrez, everis
Keeton Ross, Evok Innovations
Deborah North, FIA
Kyle Glenn, FIA
Walt Lukken, FIA
Athena Eastwood, FIA / Willkie Farr & Gallagher
Adrian Rimmer, Finsbury Glover Hering
Gesa Schöneberg, Foundation Development and Climate Alliance
Leda Ankel, Foundation Development and Climate Alliance
Olivia Henke, Foundation Development and Climate Alliance
Peter Renner, Foundation Development and Climate Alliance
Sue Phillips, Gender Tech Enterprises
Richard Stephenson, Gestion Maritime
Shang Thong Chie, gic
Kishor Rajhansa, Global Carbon Council
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
Dame Clara Furse, HSBC
Chris Williamson, ICBC Standard Bank
Jinny Yan, ICBC Standard Bank
Jeremy Manion, ICROA
Pedro Soares, IDESAM
Meian Chen, IFS Markets
Daisy Streatfeild, IIGCC
Jose Lazuen, IIGCC
Bruno de Almeida Castigioni, Imaflora
Renata Fragoso Potenza, Imaflora
Ben Readman, Independent
Domenic Carratu, Independent
Donna Lee, Independent
Gareth Hughes, Independent
Johan Van Vuuren, Independent
Marcel van Heesewijk, Independent
Mark Tercek, Independent
Paul DeNoon, Independent
Peter Ebsen, Independent
Ed Smith, Indigo
John Mulliken, Indigo
Kathryn Elmes, Indigo
Max DuBuisson, 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)
Kiyoshi Okumura, International Finance Corporation (IFC)
Wenxin Li, International Finance Corporation (IFC)
Thais Drozdowski, Inuk
Alp Eroglu, IOSCO
Kris Nathanail-Brighton, IOSCO
Anna Roberts, IOV42
Kris Rimar , IOV42
Derya Sargın Malkoç, İşbank
Peter Werner, ISDA
Scott O’Malia, ISDA
Junji Katto, Itãu Unibanco
Christopher Calger, JPMorgan Chase
Debra Stone, JPMorgan Chase
Marisa Buchanan, JPMorgan Chase
Stuart Kinder, JPMorgan Chase
Vijnan Batchu, JPMorgan Chase
Calvin Kwan, Link
Gaia De Battista, Lion's Head Global Partners
Emily Martin, Lloyds Banking Group
Hugo Brodie, London Metal Exchange
Ibrahim Al Zubi, Majid Al Futtaim Holding
Liz Willmott, Microsoft
Marley Gray, Microsoft
Maressa Brennan, Milken Institute
Masao Koyama, Mitsubishi
Yousuke Kuroda, Mitsubishi
Takashi Hongo, Mitsui & Co. Global Strategic Studies Institute
Hiroshi Endo, Mizuho
Ed Zabrocki, Morgan Stanley
Karen Kochonies, Morgan Stanley
Lisa Cherkas, Morgan Stanley
William McCoy, Morgan Stanley
David Lunsford, MSCI Climate Risk Center
Tatjana Greil-Castro, Muzinich & Co
Bill Gilbert, NatWest
James Close, NatWest
Naresh Vyas, NatWest
Anna Dubowik, Negative Emissions Platform
Andrew Hedges, Norton Rose Fulbright
Elisa de Wit, Norton Rose Fulbright
Eduardo Platte, OGCI
Eliz Ozdemir, OGCI
Julien Perez, OGCI
Magali Falcon Bejot, OGCI
Vinicius de Araujo Lima, OGCI
Angelica Kemene, Optima-X
Taku Ide, Origin Energy
William Swetra, Oxy Low Carbon Ventures
Islay Lord, Parhelion
Julian Richardson, Parhelion
Kate Brown, Parhelion
Brennan Spellacy, Patch
Matthias Krey, Perspectives Climate Group
Greg Sharenow, PIMCO
Scott Mather, PIMCO
Steve Zhang, Ping An
Martijn Wilder, Pollination
Robert Jesudason, 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
Barbara Baarsma, Rabobank
Alastair Handley, Radicle Balance
Louis Redshaw, Redshaw Advisors
Clive Bastin, RELX
Lisa DeMarco, Resilient LLP
David Mazaira, responsAbility Investments AG
Lena Hörnlein, responsAbility Investments AG
​Paolo Natali, Rocky Mountain Institute
Charles Cannon, Rocky Mountain Institute
David Mann, Rocky Mountain Institute
Valentina Guido, Rocky Mountain Institute
Ben Nelson, Rokos Capital
Felix Euler, Rokos Capital
Paula VanLaningham, S&P Global Platts
Steffan Kram, Santander
Shamini Harrington, Sasol South Africa
Storm Potts, Sasol South Africa
Jonny Gilson, SCB
Tom Enger, SGX
Xing'an GE, Shenzhen Green Finance Committee
Zack Parisa, SilviaTerra
Anne Jenkins, Soft Power Capital
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
Noel Quinn, Sustainable Markets Initiative
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
Riyad Hammad, Tabreed
Josh Brown, TASC
Jason Norman, Temasek
Leslie Durschinger, Terra Global Capital
Dave Mann, TFS Energy Futures, LLC
Christopher Webb, The Nature Conservancy
Johan Krebbers, The Open Group
Oliver Toohey, The Pew Charitable Trusts
Kathy Hung, Timing Carbon Asset Management Co., Ltd.
Raluca Dirjan, Totsa
Jonathan Gilmour, Travers Smith
Susan Zhu, Treasure Carbon
Raymond Harte , Treehouse Markets
Wendy Miles, Twenty Essex
Judson Berkey, UBS
Tasos Zavitsanakis, UBS
Barbara Haya, UC Berkeley
Justin Macinante, University of Edinburgh
Eli Mitchell-Larson, University of Oxford
Hugo Barreto, Vale
Vivian MacKnight, Vale
Tim Mealey, VCMIi
Jerry Seager, Verra
Aymeric de Conde, Vertis
James Smith, WBCSD
Anna Lehmann, Wildlife Works
Angela Churie Kallhauge, World Bank Group
Chandra Shekhar Sinha, World Bank Group
Harikumar Gadde, World Bank Group
Marc Sadler, World Bank Group
Frances Seymour, World Resources Institute
John Holler, WWF
Adam Linton, Xange
Steven Witte, Xange
Cameron Prell, Xpansiv
Sean Donovan, Yara / Agoro
Justin d'Atri, Zurich
Maya Sidler, Zurich
Taskforce Observers
Marisa de Belloy, High Tide Foundation
Tom Owens, High Tide Foundation
Zoe Knight, HSBC
Marie de Bazelaire, HSBC
Dame Clara Furse, HSBC
John Denton, ICC
Dirk Forrister, IETA
Claire Mizutani, IETA
Stefano De Clara, IETA
Antoine Diemert, 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
Guenther Thallinger, Advisor
Ailun Yang, Bloomberg Philanthropies
Jay Dessy, Breakthrough Energy
Nicolette Bartlett, CDP
Jess Ayers, Children's Investment Fund Foundation
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
Jerome Fitzgerald, Sustainable Markets Initiative
Myles Allen, University of Oxford
Claire O'Neill, World Business Council for Sustainable Development
Cynthia Cummis, WRI, Science Based Targets Initative
Brad Schallert, WWF
Peter Boyd, Yale University
* Plus additional representatives from investor alliances and civil society