US Principles for High Integrity Carbon Markets Could Drive Private Sector Climate Action

Today the Biden administration released a Joint Policy Statement and Principles for Responsible Participation in Voluntary Carbon Markets (VCMs) that codify the U.S. government’s approach to advance high-integrity VCMs. The Statement and Principles, signed by United States Treasury Secretary Janet Yellen, U.S. Secretary of Agriculture, Thomas Vilsack, U.S. Secretary of Energy, Jennifer Granholm and Senior Advisor for International Climate Policy John Podesta, among others, represent the U.S. government’s commitment to advancing the responsible development of VCMs, with clear incentives and guardrails in place to ensure that this market drives ambitious and credible climate action from the private sector, and generates economic opportunity. 

The following are statements from Environmental Defense Fund’s Amanda Leland and Angela Churie Kallhauge, both of whom participated in the event today in Washington officially announcing the Statement and Principles. 

Amanda Leland, EDF’s Executive Director, said: 

“By establishing a consistent and supportive policy framework for high integrity voluntary carbon markets, the U.S. is sending an important signal for private sector leadership that will complement other big steps taken by the Biden-Harris administration to dramatically reduce climate pollution using a variety of tools. When done right, carbon markets offer a powerful means to finance much-needed climate solutions now, while promoting transparent, inclusive and equitable economic development.” 

Angela Churie Kallhauge, EDF’s Executive Vice President of Impact, said:  

“We must build carbon markets that are transparent, equitable and effective, ensuring that every dollar invested translates into real climate action and benefits for communities worldwide. Today’s announcement is a real milestone as it signals the U.S. government’s determination to scale high integrity voluntary carbon markets. It also comes amid a general convergence around principles of quality and integrity we have been seeing.”