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Net-Hero News


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Valued member of the Net-Hero community,

 

I would like to thank you for your unwavering support to NET-HERO and give you an update on what’s been happing in carbon markets.

 

Some pivotal developments have occurred amongst the regulatory bodies that provide guidance on the use of carbon credits.

 

Kind regards,

Dario Galli-Zugaro

 

Managing Director

Net-Hero Ltd


 

In April of 2024, The International Emissions Trading Association (IETA) released its guidelines for the use of High integrity Carbon credits. This followed the earlier statement released by the Science Based Targets Initiative (SBTI) which revised its stance, now intent on permitting the use of high integrity carbon credits to offset scope 3 emissions.


We've summarised the four key takeaways for you:


Urgency in action:


IETA's latest guidelines advocate for the deployment of High Integrity carbon credits, not just as a stand-alone solution but as a complement to broader emission reduction strategies across all scopes. This integrated approach is vital to prevent any delays in crucial carbon credit projects, amplifying our collective push towards global decarbonization.


Critical Role of the VCM:


The Voluntary Carbon Market (VCM) remains at the forefront of our financial strategies, channelling essential funds to pivotal regions and technologies. These include initiatives in the global south, advancements in carbon dioxide removal technologies, and projects focused on forest and biodiversity conservation. Each of these efforts plays a part in supporting the United Nations Sustainable Development Goals (UN SDGs).


Guidelines for Integrity:


In line with best practices observed within the VCM, IETA has established comprehensive guidelines to ensure that the use of carbon credits by companies is transparent, quantifiable, and accountable. These standards are designed not only to support credible claims about emission reductions but also to foster market consensus.


Our Position:


Net-Hero, thanks to BeZero’s data driven and scientific approach in rating carbon

credit projects, has been utilizing High Integrity carbon credits for several years now and accompanying are members in their decarbonization efforts.



Tommy Ricketts, CEO and Co-founder of BeZero Carbon had this to say to the Net-Hero community.

 

“A high-integrity voluntary carbon market is possible and invaluable. While reductions should be prioritised, high-quality carbon credits have a central role to play in driving genuine climate action now, funding crucial carbon projects globally. We need to scale the market to spur reductions at the rate needed to meet international climate targets. A raft of innovations from the sector mean companies can be more confident than ever before in their investments, thanks to carbon ratings and insurance providers, advances in Earth-observation technology and multiple market-led initiatives. A high-integrity, transparent market is within reach, but needs critical infrastructure to thrive"


ETA Guidelines for High Integrity Use of Carbon Credits


Guideline 1: Demonstrate support for The Paris Agreement Goals

Guideline 2: Quantify and publicly disclose Scope 1, 3 and 3 emissions

Guideline 3: Establish a Net Zero decarbonisation pathway and near-term targets

Guideline 4: Use carbon credits in line with the mitigation hierachy

Guideline 5: Ensure that only high-quality carbon credits are used

Guideline 6: Transparently disclose use of carbon credits

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