Resilient LLP (formerly DeMarco Allan LLP)
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Biden-Harris Administration Announces Principles for High-Integrity Voluntary Carbon Markets

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The Biden-Harris Administration (the Administration) today released the Voluntary Carbon Markets (VCM) Joint Policy Statement and Principles (the Principles), along with an accompanying fact sheet (the Fact Sheet). The Principles represent the U.S. government’s affirmation that high-integrity VCMs can and should play a meaningful role in reducing and removing global greenhouse gas (GHG) emissions and support the objective of global net-zero emissions by 2050. The Principles support the Administration’s commitment to ensuring VCMs effectively channel private capital into innovative technological and nature-based solutions, while also protecting natural ecosystems and supporting the U.S. and international partners in achieving their climate objectives.   The Principles follow other key U.S. climate-related legislation and policies, including the Inflation Reduction Act (see our earlier bulletin here), climate adaptation and resilience plans for federal agencies (see our earlier bulletin here), and the U.S. Department of the Treasury’s Principles for Net-Zero Financing and Investment, released last year, supporting the development and execution of strong net-zero commitments and transition plans by financial institutions, with a focus on Scope 3 financed and facilitated GHG emissions.   This bulletin briefly summarizes the Principles, their anticipated role in addressing climate change, and other ongoing U.S. government actions to support VCMs.    Principles for high-integrity VCMs. The Principles provide seven principles for high-integrity VCMs, drawing from existing best practices for credit certification standards, including the Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA), the G7’s Principles for High-Integrity Carbon Markets, the Commodity Futures Trading Commission’s proposed guidance regarding the listing of voluntary carbon credit derivative contracts (December 2023), the Integrity Council for Voluntary Carbon Markets (ICVCM) Core Carbon Principles (see our earlier bulletin here), and relevant decisions under Article 6 of the Paris Agreement. The Principles are as follows: Carbon credits and the activities that generate them should meet credible atmospheric integrity standards and represent real decarbonization. Credit-generating activities should avoid environmental and social harm and should, where applicable, support…

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Watch Lisa DeMarco at North American Climate Summit 2023

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Watch Resilient LLP’s Lisa DeMarco discuss important developments and insights on voluntary carbon markets during her interview on SmartMarkets™ as part of IETA’s 2023 North American Climate Summit (NACS) last September at Climate Week New York City. The interview explores the role of carbon markets to support corporate climate action and the need for increased (i) integrity, (ii) excellence and transparency, and (iii) ambition, and highlights the important work of the Integrity Council for Voluntary Carbon Markets and the Voluntary Carbon Markets Integrity Initiative to support and provide confidence to corporates and others to credibly use emission units, emission reduction units and removals towards emissions reduction targets. SmartMarkets™ has also compiled a selection of its NACS interviews (including Lisa’s interview) into a special episode (available here) covering how carbon markets support corporate strategy for climate action; how the challenges to operationalize the Article 6 markets, as well as the challenges to the reputation and growth of the voluntary carbon markets, affect corporate strategies; and what were the most important ideas being discussed at NACS.

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Public Policy Forum Publishes Article 6 Report

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We are pleased to announce the release of an Article 6 report published by Public Policy Forum, authored by Lisa DeMarco (Resilient LLP), Katie Sullivan (IETA), and Steve MacDonald (+SM). The report, entitled The Missing Article: How to Get Canada Back in the Game on Article 6, is available now on PPF’s website and sets out a pathway for Canada to maximize the opportunity and minimize the cost of energy transition through Article 6.

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Lisa DeMarco Elected Chair of IETA

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We would like to congratulate Lisa DeMarco who was elected Chair of the governing council of the International Emissions Trading Association (IETA) at its Annual General Meeting on November 9, 2021. Lisa is the first woman to serve as Chair of IETA and previously served as Vice Chair. She is Senior Partner and CEO of Resilient LLP and has more than two decades of experience in law, regulation, policy and advocacy relating to energy and climate change. Mary Grady, Executive Director of the American Carbon Registry, and Enric Arderiu, Global Head of Environmental Products at Mercuria Energy Trading S.A., were elected Vice Chairs. More information is available in IETA’s press release. IETA is the voice of business on carbon markets around the world. Established in 1999, IETA’s members include global leaders in the electricity, oil/gas, cement, aluminium, chemical, mining, technology, standards, verification, broking, trading, legal, finance, accounting and consulting industries. More information about IETA is available on its website.

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