The International Emissions Trading Association (IETA), the business group devoted to pricing and trading greenhouse gas reductions, has unveiled its Guidelines for High Integrity Use of Carbon Credits, setting out clear guidance on how corporate buyers should consider their use of carbon credits to progress towards the goals of the Paris Agreement.

“New modelling by Allied Offsets shows that 81 per cent of the world’s largest companies have not set net-zero targets,” says Andrea Abrahams, IETA managing director, voluntary carbon markets. “The IETA Guidelines serve as a strategic framework for companies to mobilise finance and incorporate carbon credits into their climate strategies. The private sector has a critical role to play and we need to act now.”

Evidence from new modelling indicates there is a strong likelihood that companies may miss near- and long-term net-zero targets, risking an overshoot of the Paris Agreement’s objectives.

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