Voluntary Carbon Markets: U.S. Increases Focus On Ensuring Market Integrity

In May 2024, the White House announced a Joint Policy Statement and Principles (Statement ) on voluntary carbon markets (VCMs) in conjunction with the U.S. Department of Energy, the U.S. Department of the Treasury, and the U.S. Department of Agriculture. The Statement endorses the use of VCMs to reduce global greenhouse gas (GHG) emissions, reach global net-zero emissions by 2050, and limit warming to 1.5 °C. The White House also announced the semifinalists from which it will purchase the federal government's first carbon offset credits. These semifinalists included companies working on carbon storage, biomass projects using plants and algae, rock weathering, and mineralization.