May 04-The Department for Energy and Climate Change (DECC) s Quality Assurance Scheme for Carbon Offsetting is blocking the important voluntary market and discouraging its expansion, according to Wayne Sharpe, founder and ceo of the Carbon Trade Exchange.
The Department favours a global regulated market, ignoring the fact that voluntary offset purchases result in greenhouse gas reductions, which are additional to those required by law, he explained.
Currently, the DECC s Quality Assurance Scheme recognises only those offsets approved under formal UN standards, such as Certified Emission Reductions (CERs). The Department does not recognise Verified Emissions Reductions (VERs), which are based on voluntary certification standards and ensure good quality emissions reductions in most case equal to or even superior to CDM standards.
The current scheme is deeply flawed because of its failure to recognise VERs, said Sharpe. The political parties have all ignored this issue in the main, and seem to somehow assume that this problem is miraculously going to fix itself .
A total lack of effective policies or even meaningful discussion during this election campaign means they are defying Global and UN experts and are ruining efforts to address climate change while other countries are embracing voluntary carbon markets.
Despite the financial and environmental consequences of not meeting the UK s emissions targets, the build up to the election has barely touched upon the main parties plans for a low carbon economy, added Sharpe.
The Department favours a global regulated market, ignoring the fact that voluntary offset purchases result in greenhouse gas reductions, which are additional to those required by law, he explained.
Currently, the DECC s Quality Assurance Scheme recognises only those offsets approved under formal UN standards, such as Certified Emission Reductions (CERs). The Department does not recognise Verified Emissions Reductions (VERs), which are based on voluntary certification standards and ensure good quality emissions reductions in most case equal to or even superior to CDM standards.
The current scheme is deeply flawed because of its failure to recognise VERs, said Sharpe. The political parties have all ignored this issue in the main, and seem to somehow assume that this problem is miraculously going to fix itself .
A total lack of effective policies or even meaningful discussion during this election campaign means they are defying Global and UN experts and are ruining efforts to address climate change while other countries are embracing voluntary carbon markets.
Despite the financial and environmental consequences of not meeting the UK s emissions targets, the build up to the election has barely touched upon the main parties plans for a low carbon economy, added Sharpe.
