![Carbon Credits](/sites/default/files/styles/max_1000/public/media/image/voluntary%20carbon%20markets.jpg?itok=N1xae5y5)
Based on interviews with market participants and our own research, Chakravorti, Cook, DeAlto and Rioux make several recommendations to improve transparency, efficiency, and trust in VCMs. Today, corporates are facing increasing pressure to make net-zero commitments whereby their residual greenhouse gas (GHG) emissions are completely offset. By purchasing offsets in voluntary carbon markets (VCMs), corporates fund projects globally that avoid GHG emissions or remove CO2 equivalents (CO2e) from the atmosphere. However, VCMs are fragmented and relatively unregulated. Furthermore, some offset projects have not removed or avoided GHG emissions as claimed. Even with these challenges, VCMs provide a market-based mechanism for corporates to fund climate projects globally to enable us to meet our climate goals.