Summary
This report offers an overview of voluntary standards and initiatives for carbon management (VSICM), delving into their drivers, development, and implementation. It discusses various VSICMs, emphasizing their utility for private sector companies striving for net-zero emissions. The report states that VSICMs, spearheaded by NGOs, international organizations, and private sector entities, operate with greater agility compared to legally binding initiatives, resulting in a competitive landscape with overlapping but complementary goals. To navigate this complexity, IISD categorizes VSICMs into four types based on their objectives, aligning with the main steps in private sector carbon management: GHG inventories, carbon offsetting, climate-related information disclosure, and carbon/climate neutrality certification.