The Verified Carbon Market Collaborative
The Verified Carbon Market Collaborative (VCM+ Collaborative) is a global initiative uniting leaders across science, policy, finance, and practice to build the next-generation Verified Carbon Market—a market that is trusted, equitable, and capable of delivering 5 billion tons of high-integrity climate outcomes and mobilizing $100 billion in finance between 2026 and 2035.
Carbon markets operate across a distributed system of international rules, national policies, standards bodies, registries, and regulatory frameworks. No single institution governs the system end-to-end.
Rather than replace or duplicate the work of existing institutions, the Collaborative acts as a central coordinator—aligning efforts, mobilizing resources, and amplifying progress across this fragmented landscape. It supports scaled implementation and resources for both compliance and voluntary markets and actors.
The VCM+ Collaborative advances this role through four connected modes of work:
-
Supporting global conversations and alignment on shared priorities and needs across compliance and voluntary markets,
-
Convening expert-led sprints to develop targeted solutions to clearly defined needs;
Supporting piloting and testing of those solutions in real market contexts; and
-
Embedding successful approaches into the policies, regulations, standards, and institutional processes that govern the market.
Trusted communications
The VCM+ fosters a culture of transparency, accountability, and clarity in all market interactions. It restores confidence in high-integrity, market-based climate solutions through consistent, credible, and accessible communications that empower informed stakeholder engagement.
The VCM+ Collaborative’s vision defines what a high-performing, verified carbon market looks like. It is organized around five interconnected pillars that represent where coordinated reform can deliver the greatest impact across the system.
Our vision
High-integrity science
The VCM+ is grounded in rigorous scientific standards that ensure carbon credits effectively reduce or remove greenhouse gas emissions. It advances research, data systems, and methodologies that continuously improve market integrity and deepen understanding and implementations of carbon activities that support broader environmental and social goals.
Robust oversight
The VCM+ is governed by a strong legal and institutional framework and supported by modern, interoperable market infrastructure aligned with financial market principles. It enables the large-scale issuance of high-integrity carbon credits while ensuring Indigenous Peoples and Local Communities receive tangible benefits and are protected by robust social and environmental safeguards.
Targeted finance
The VCM+ mobilizes scaled, accessible capital through innovative carbon finance instruments that unlock high-impact mitigation projects. It equitably channels funding to local and frontline communities as key partners in climate action, advancing climate resilience and sustainable development.
Scaled demand
The VCM+ enables climate-ambitious companies and governments to meet climate goals by credibly purchasing and retiring high-integrity carbon credits at scale. It supports claim integrity and transparent use, driving sustained demand aligned with global climate objectives.
American Carbon Registry (ACR) Architecture for REDD+ Transactions (ART) Climate Action Reserve Plan Vivo Verra Voluntary Carbon Markets Integrity Initiative (VCMI)
Non Profit Standard
Setters
Market
oversight
- The Integrity Council for the Voluntary Carbon Market
Members of the VCM+ Collaborative
Membership in the Collaborative reflects support for the vision of the VCM+ only and does not constitute, nor should it be interpreted as, an endorsement by the Collaborative of any member organization, by any member organization of the Collaborative, or by one member organization of another.
Philanthropic
partners
- High Tide Foundation
- Instituto Clima e Sociedade (iCS)
- Three Cairns Group
- ZOMA LAB
Non-profit standard
setters
- American Carbon Registry (ACR)
- Architecture for REDD+ Transactions (ART)
- Climate Action Reserve
- Plan Vivo
- Verra
- Voluntary Carbon Markets Integrity Initiative (VCMI)
Financiers and
investors
- Acumen
- Artio
- Blended Finance Group
- Blue Forest
- BTG Pactual Timberland Investment Group
- Change Forces
- Climate Asset Management
- CrossBoundary
- Cultivo Land PBC
- Encourage Capital
- Envex Technologies Pvt Ltd
- FSD Africa
- Wild Assets
Non-profit market
participants
- American Forest Foundation
- Arbor Day Carbon
- Bonneville Environmental Foundation (BEF)
- Carrot
- Conservation International
- Cool Effect
- Emergent Forest Finance Accelerator
- Fair Carbon
- Proyecto Mirador
- Terraset
- The Climate Trust
- Worldview International Foundation
Advisors
- Arden Climate
- Climate Focus
- Dryas
- EY
- Foley & Lardner LLP
- Gordian Knot Strategies
- Green Strategies, Inc.
- Herzog Law
- Integrity Global Partners, Inc.
- Nordic Voice
- Resilient LLP
- Sotora Global
- Sylvestris Sustainability Global LTD
Non-profit organizations
and associations
- Africa Carbon Markets Initiative (ACMI)
- ABCDE TRUST KENYA
- Beyond Alliance
- CAP-A
- Climate Action Data Trust (CAD Trust)
- Climate Catalysts Indonesia
- Climate Collective
- Crosswalk Labs
- CTrees
- Environmental Defense Fund (EDF)
- Forest Trends' Ecosystem Marketplace
- Gateway Research
- Human Rights and Youth Justice Initiative (HRYJI)
- IETA
- LEAF Coalition
- Methane Mitigation Council (MMC)
- Natural Climate Solutions Alliance
- RMI
- Singapore Sustainable Finance Association (SSFA)
- The Nature Conservancy
- United Nations Development Programme (UNDP)
- Value Change Initiative
- WattTime
- Woodwell Climate Research Center
For-profit market
participants
- aDryada
- A-Gas
- Anew Climate
- Arbonics
- BeZero Carbon
- BioCarbon
- Boomitra
- Bennu Climate
- Bureau Veritas Group
- Carbon Balance
- Carbon Growth Partners
- CarbonTanzania
- Cercarbono
- Climate Impact X
- Climate Vault Solutions
- Chloris Geospatial
- Circular Impact
- CNaught
- Deep Sky
- Earthly
- EcoRegistry
- EcoAdvisors
- EFM Investments & Advisory
- Equitable Earth
- Funga
- Global Carbon Market Utility
- Goodcarbon
- Green Assets
- Green.Earth
- Green Diamond
- Greenline Climate
- GreenTrade Impact GmbH
- Grupo de Profesionales Ambientales Mundo Verde, S.A. DE C.V.
- hummingbirds
- Indigo Ag
- Integradora de Comunidades Indígenas y Campesinas de Oaxaca A.C. (ICICO)
- Isometric
- Joias Ecológicas
- Kanop
- Kita
- Klimate
- Mitti Labs
- Native
- Nideport S.A.
- NZ Forest Restoration Ltd.
- Oneshot earth
- Pachama
- Permian Global
- Planet
- RenewCred
- RootRisk
- Rubicon Carbon
- Sky Harvest
- Space Intelligence
- Straatos
- Sylvera
- Symbrosia
- SyndicatedCarbon
- Thryve.Earth
- Tradewater
- Trovio
- Value Network Ventures (VNV)
- Valitera
- Vibrant Planet PBC
- Virridy
- West Africa Blue
- Wovoka
- Xilva
- 3 Trees
American Forest Foundation Arbor Day Carbon Bonneville Environmental Foundation (BEF) Carrot Conservation International Cool Effect Emergent Forest Finance Accelerator Fair Carbon Proyecto Mirador Terraset The Climate Trust Worldview International Foundation
Non Profit Market
Participants
Africa Carbon Markets Initiative (ACMI) ABCDE TRUST KENYA Beyond Alliance CAP-A Climate Action Data Trust (CAD Trust) Climate Catalysts Indonesia Climate Collective Crosswalk Labs CTrees Environmental Defense Fund (EDF) Forest Trends' Ecosystem Marketplace Gateway Research Human Rights and Youth Justice Initiative (HRYJI) IETA LEAF Coalition Methane Mitigation Council (MMC) RMI Singapore Sustainable Finance Association (SSFA) The Nature Conservancy United Nations Development Programme (UNDP) Value Change Initiative WattTime Woodwell Climate Research Center
Non Profit Organizations
and Associations
High Tide Foundation Instituto Clima e Sociedade (iCS) Three Cairns Group ZOMA LAB
Philanthropic
Partners
Acumen Artio Blended Finance Group Blue Forest Change Forces Climate Asset Management CrossBoundary Cultivo Land PBC Encourage Capital FSD Africa Wild Assets
Financiers and
Investor
Arden Climate Climate Focus Dryas Gordian Knot Strategies Green Strategies, Inc. Herzog Law Integrity Global Partners, Inc. Nordic Voice Resilient LLP Sotora Global
Advisors
aDryada A-Gas Anew Climate Arbonics BeZero Carbon Boomitra Bennu Climate Bureau Veritas Group Carbon Balance Carbon Growth Partners CarbonTanzania Cercarbono Climate Impact X Climate Vault Solutions Chloris Geospatial Circular Impact CNaught Deep Sky Earthly EcoRegistry EcoAdvisors EFM Investments & Advisory Equitable Earth Funga Global Carbon Market Utility Green.Earth Green Diamond Greenline Climate GreenTrade Impact GmbH Grupo de Profesionales Ambientales Mundo Verde, S.A. DE C.V. hummingbirds Indigo Ag Integradora de Comunidades Indígenas y Campesinas de Oaxaca A.C. (ICICO) Isometric Joias Ecológicas Kanop Kita Klimate Mitti Labs Native Nideport S.A. NZ Forest Restoration Ltd. Oneshot.earth Pachama Permian Global Planet RenewCred Rubicon Carbon Sky Harvest Space Intelligence Straatos Sylvera Symbrosia SyndicatedCarbon Thryve.Earth Tradewater Trovio Value Network Ventures (VNV) Valitera Vibrant Planet PBC Virridy West Africa Blue Wovoka 3 Trees
For Profit Market
Participants
Frequently asked questions
About the Verified Carbon Market Collaborative
The Verified Carbon Market Collaborative (VCM+ Collaborative) acts as a worldwide partnership linking pioneers in research, policy, governance, and finance to develop a future-ready carbon market. We align diverse efforts, bridge gaps, and drive coordination. Our focus is moving proven ideas into active implementation.
The Verified Carbon Market (VCM+) encompasses the full spectrum of carbon pricing and credit systems, integrating both voluntary and mandatory market mechanisms.
A merger of systems is already happening. Voluntary rules are shaping new laws, and nations are folding carbon credits into official compliance frameworks to hit Paris Agreement targets. The next phase of carbon markets demands a unified base to ensure cross-market trust and efficiency. We are building the shared infrastructure needed for a global, transparent, and scalable system.
The market operates via a complex web of rules, registries, and institutions. Although vital changes are happening, they occur in isolation. Partnering with industry leaders, we synchronize efforts, pinpoint critical gaps, fast-track functional solutions, and foster unity among all market participants.
We function throughout the entire market geography. Our mission is to link and catalyze current industry work while resolving specific bottlenecks. Acting as a booster for current projects, we concentrate on unifying systemic reforms and streamlining execution across science, policy, and market infrastructure.
No, we do not function as a standard-setter. We act as an accelerator that translates high-level reforms into practical, unified action through ecosystem-wide alignment.
Current systems are the bedrock of what comes next. We work with groups like ICVCM and VCMI to harmonize efforts across the whole landscape. Our mission is to operationalize change by engaging everyone from local communities and developers to global investors. Professionalizing these systems ensures that new standards and reforms are not just written, but effectively used.
The initiative centers on five linked focus areas: Integrity-Driven Science Strong Governance Transparent Communications Strategic Finance Increased Demand These pillars constitute the essential framework required to expand high-quality carbon markets.
Our objective is a carbon market that delivers 5 billion tonnes of high-integrity climate impact and unlocks $100 billion in sustainable finance between 2026 and 2035.
We drive progress through three integrated paths: Building precise answers to market hurdles by bringing together institutional experts Guiding the testing of these models in live market settings Integrating proven strategies into the policies and infrastructure that define the global landscape
This framework serves as a blueprint for market evolution. It highlights the vital issues required for high-integrity results and directs where we apply our collective energy. It is built to offer a unified roadmap for the ecosystem, ensuring alignment between investors, policymakers, and organizations.
This roadmap emerged from deep dialogue with members and market voices across finance, community groups, research, and policy. We prioritized topics that: block trust, investment, or interoperability; demand broad cooperation; and allow for practical, scalable results.
The Action Agenda empowers market actors to pinpoint urgent workstreams, harmonize tasks, minimize overlap, and quicken the pace of high-integrity transformation. It likewise shapes our yearly strategy and helps decide where to boost current projects, enhance coordination, or spark new efforts to fix remaining systemic flaws.
Existing organizations are already pushing forward many Action Agenda goals. In these scenarios, our role is to offer support, build bridges, and scale the impact of that ongoing work. For untapped areas or alignment hurdles, we initiate time-bound, expert-led task forces to create and test new solutions.
We focus on producing functional tools that integrate into current registries, regulatory codes, and accounting systems. The actual enforcement of rules remains with governing institutions. We facilitate adoption by collaborating with policy writers and market leaders to ensure these outputs become standard practice.
Collaborative membership and participation
The VCM+ Collaborative brings together organizations across the carbon market ecosystem, including scientists, standard-setters, project developers, buyers, investors, Indigenous and community organizations, NGOs, registries, financial institutions, philanthropies, policy experts, and technology providers.
Collaborative members span both voluntary and compliance market systems and represent expertise across global geographies.
The Collaborative includes a rapidly growing network of organizations from across the global carbon market ecosystem. Membership continues to expand as additional organizations join in support of the Collaborative’s shared vision for a high-integrity, equitable, and scalable verified carbon market. See the current list of Collaborative members here.
No. Membership reflects support for the VCM+ Collaborative vision and objectives. It should not be interpreted as an endorsement of any individual organization, project, or market activity by the Collaborative or by other members.
Organizations can engage with the Collaborative by joining as members, participating in technical working groups and expert sprints, partnering on implementation and pilots, or supporting catalytic funding of activities across the Collaborative’s five pillars.To learn more and get involved, contact us here.
Carbon markets and market reform
Climate finance is a critical infrastructure for enabling large-scale mitigation, resilience, and sustainable development. Carbon markets play an important role in directing capital toward emissions reductions and removals, creating financial incentives for climate action, and expanding participation from both public and private sector actors.
As one of the most effective mechanisms of channeling climate finance at a global scale, carbon markets represent a significant opportunity to accelerate mitigation and adaptation investment and infrastructure.
By creating interoperable systems for pricing, trading, and financing greenhouse gas mitigation, internationally connected carbon markets can also support carbon pricing. across jurisdictions.
The next several years represent a critical window for building internationally aligned systems for carbon markets as countries implement Article 6 of the Paris Agreement, governments explore integration of carbon credits into compliance systems, and demand for high-integrity climate finance continues to grow.
Many of the concerns associated with early carbon markets were valid and reflected gaps in the ecosystem across infrastructure, governance, and scientific rigor — pillars crucial for integrity at scale.
In response to external and internal feedback, the market has undertaken significant reforms across standards development, scientific research, monitoring technologies, and market governance. The Collaborative focuses on accelerating and coordinating those reforms to improve transparency, integrity, and climate impact across the market.
Scale and integrity are interconnected. Scaling high-integrity markets requires strong scientific methodologies, standardized contracts, interoperable data systems, transparent registries, and clear legal and financial frameworks. These systems both improve integrity and enable greater investment and market participation.
It is crucial that the verified carbon market is accessible to Indigenous Peoples, local communities, underrepresented market participants, and smaller project developers. The Collaborative advances this high-integrity accessible market by supporting capacity building and technical assistance, access to data and tools, financing structures that help reduce early-stage project risk, and enabling policy environments. The Collaborative also works to improve transparency and strengthen collaboration between governments, philanthropies, investors, and local stakeholders.
We also serve as a platform to elevate and amplify diverse global voices and initiatives helping shape the future of carbon markets, such as our VCM+ Fellows Program.