Voluntary carbon market first to embrace REDD
21 Nov 2008
The Voluntary Carbon Standard (VCS) has become the first global carbon accounting standard to introduce robust rules designed to unlock vital funding for credible agriculture, forestry and other land use (AFOLU) projects.
Although agriculture and forestry together account for about a third of all global greenhouse gas emissions, it is the first time a standardised approach has included major project types - such as reduced emissions from deforestation and degradation (REDD) - and made them accessible to all market players in the $US330 million voluntary carbon market.
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