WWF takes microscope to competing offset standards

Report compares and contrasts eight leading offset standards and endorses offset industry for aiding technology transfer and bolstering renewables capacity

The WWF has issued a new report that aims to make it easier for firms and consumers to make sense of the growing number of carbon offsetting standards that have emerged in recent years.

The Making Sense of the Voluntary Carbon Market: A Comparison of Carbon Offset Standards report assesses the growing market for both official and voluntary carbon offset credits and compares eight leading offset standards: the UN Clean Development Mechanism; Gold Standard; Voluntary Carbon Standard 2007; VER+; Chicago Climate Exchange; Voluntary Offset Standard; Climate, Community and Biodiversity Standards; and Plan Vivo.

The report assesses the merits of the various different standards and analyses the criteria they use to judge offsets credibility, including the additionality tests they carry out, the types of projects they exclude and whether or not they use a credit registry to tackle the problem of double counting.

It found that currently each standard has a different focus, with none so far emerging as the industry standard. It also argued that the different voluntary standards each boast different merits and pitfalls, noting that "some closely mirror compliance market standards while others take a more lenient approach in order to lessen the administrative burden [on carbon reduction projects]".

Keith Allott, climate change spokesman for WWF, said the number of standards in the market can be confusing for businesses and individuals. But he also argued that there was a case for a range of different standards on the ground that when selecting one over-arching standard there could be a temptation to use more relaxed criteria that enable as many credits as possible to enter the market.

The report also offers support to the embryonic offset industry, which has faced hefty criticism in recent years, with some commentators arguing it distracts from the more important issue of reducing carbon emissions at source.

The WWF report recognises these concerns, but argues the sector is delivering "sustainability co-benefits through technology transfer and capacity building". It also argues that the rapidly expanding voluntary offset market allows for broad public and corporate participation with environmental issues.