International Carbon Registry - Reykjavík, Iceland

There is an urgent need for decisive climate action, with the resources to finance a transition to a low-carbon economy becoming ever more pressing. Achieving the 1.5 degree Celsius target set by the Paris Agreement requires that global net-zero emissions be reached by 2050. The voluntary carbon market has the potential to speed up the effort to address climate change and meet the goals set out in the Paris Agreement. Many new and expensive low-carbon technologies are unable to attract the investment they need due to their risk and return profile. Carbon offsetting mechanisms based on the principles of initiatives such as Clean Development Mechanism can be used to direct capital towards low-carbon technologies. Carbon credits allow organizations to offset their emissions by financing  

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emissions reductions or greenhouse gas removal from other sources, contributing to the global goal of net-zero emissions. Carbon credits can also help reduce the cost of emerging climate technologies, making them more accessible to the market. It is therefore essential to identify and support new and expensive technologies, and to finance and deploy these solutions now, so that economic growth can continue on all parts of the globe.