“As a global population, we need to achieve carbon neutrality by the mid-21st century if we are to avoid surpassing the Intergovernmental Panel on Climate Change (IPCC)’s recommended global temperature rise threshold of 1.5 degrees Celsius.2”
Companies are facing growing pressure to achieve carbon neutrality through carbon reduction efforts. As a result, more companies are turning to the VCM to play their part in the climate crisis and achieve net-zero emissions. Listed below are some of the primary benefits of participating in the VCM:
Demonstrating Commitment: By taking part in the VCM companies can demonstrate their commitment to sustainability and climate action.
Enhance Reputation: Engaging in voluntary carbon offsetting can enhance a company’s reputation and attract environmentally-conscious consumers and investors.
Meet Net-Zero Targets: Participating in the VCM helps companies meet their own carbon reduction goals and align with global efforts to combat climate change.
“By the end of 2021, more than 2,000 companies across 70 countries and 50 industries approved emission reduction targets or committed to the Science Based Target initiative (SBTi), indicating their pledge to achieve net zero emissions by mid-century or earlier.3”
“One in five of the world’s 2,000 largest publicly listed companies have committed to a ‘net-zero’ emissions target, as of 2021.4”
2. Global Warming of 1.5 ºC ipcc.ch
3. Companies committed to cut emissions in line with climate science now represent $38 trillion of global economy sciencebasedtargets.org
4. Net-zero emissions targets adopted by one-fifth of world's largest companies www.reuters.com