Melaina Dyck

As the Voluntary Carbon Market (VCM) expands, it increasingly intersects with the lives and lands of Indigenous Peoples and local communities (IPs and LCs). Public and private entities approach these communities to develop carbon projects on their lands. While some communities explore project development themselves, others find themselves fighting against outside actors developing activities on their land without their consent.

Local actors in the Global South face roadblocks that limit the development of high-integrity carbon market activities. The recent UNDP and Climate Focus partnership will address some of these. Carbon markets are an important and growing source of finance for climate change mitigation.

Double counting of greenhouse gas (GHG) emission reductions or removals (ERRs) can undermine the integrity of carbon markets. Accounting provisions can help to address and avoid double counting and ensure that the impact of mitigation projects on GHG emissions levels is understood. In the case of the Paris Agreement, the double counting of ERRs among the Nationally Determined Contributions (NDCs) of Parties to the Paris Agreement is avoided through corresponding adjustments (CAs).