3 Oct 2024
ICVCM has seen the announcements of the CFTC, US Attorney and the SEC in relation to C-Quest Capital companies and former C-Quest Capital employees, following the June announcement by C-Quest Capital of its former CEO’s wrongdoing, which allegedly resulted in the over-issuance of millions of carbon credits.
The ICVCM agrees with the statement of the US Attorney Damian Williams that the voluntary carbon market is an “important part of the fight against climate change”, and ICVCM strongly believes that behaviours that have undermined the integrity of the market must stop, and appropriate enforcement actions taken where allegations are proven. A high integrity, professional and well-supervised voluntary carbon market will play an important role in mobilising private finance at scale for climate solutions and channelling investment to the Global South.
In view of the ongoing enforcement actions, the ICVCM will not comment on any aspects of the cases. ICVCM will review any outcomes of the enforcement processes when they are made public to determine if any further steps are required per the ICVCM assurance processes, which address CCP-Eligible carbon-crediting programs and their adherence to the ICVCM Core Carbon Principles. ICVCM also notes that assessment of relevant methodologies is ongoing, and we do not comment on ongoing assessments....
Read the full news release here
