The UK Government has announced its framework for the Code of Best Practice for Carbon Offsetting. The Code is voluntary and offset providers can choose whether to seek accreditation for all, or some, of their offsetting products.
The Code initially covers only Certified Emissions Reductions (CERs), that are compliant with the Kyoto Protocol. The Government has also asked industry to develop a standard for Voluntary Emissions Reduction credits (VERs) which could be included in the Code in the future, subject to the verification of their robustness.
The following can be downloaded from the DEFRA web site:
increase consumers’ understanding of offsetting and its role in addressing climate change; increase consumer confidence in the integrity and value for money of the offset products available to them; provide signals to the UK offset sector on the quality and verification standards to which they should aspire, so that market participants can focus their attention on developing the UK’s position as a global market leader in the field; and encourage the provision of credit types which are consistent with the Government’s policies on meeting its Kyoto obligations and strategy for supporting the development of a robust and liquid global market infrastructure for carbon trading
AEA Energy & Environment have been appointed as the accreditation body for the scheme and comments on the draft Code should be sent to carbon_offset@aeat.co.uk
