Posted: 8 Dec 2022 Resource Type: Research Report Download Back Climate change is a global issue that requires a co-ordinated global response. The Sharm el-Sheikh Implementation Plan agreed at COP27 concluded that a global transformation to a low-carbon economy is expected to require investment of at least USD $4-6 trillion a year. The City of London Corporation, the UK Voluntary Carbon Markets Forum, and Clifford Chance LLP have collaborated on this research paper to identify and help address some of the most pertinent uncertainties and other issues facing the Paris mechanisms and the Voluntary Carbon Market (VCM). It is intended to promote useful discussion on the topic globally and drive forward progress. As the need for climate action becomes increasingly urgent, and the number of firms committing to net-zero continues to grow rapidly, the VCM could reach USD $50 billion in value by 2030. However, uncertainties surrounding Article 6 of the Paris Agreement and its implications for the VCM are holding back activity. The VCM presents an opportunity for immediate climate action by delivering the significant private funding to climate positive investments. The VCM also enables companies to support decarbonisation beyond their own carbon footprint and accelerate the broader transition to a lower carbon future. Download the executive summary. Share: Share to LinkedIn LinkedIn Share to X Share to Facebook Facebook Share to WeChat WeChat Share to WhatsApp WhatsApp Share to Email Email Download The Global City sustainable finance hub London and the UK are positioned to take a leading role in galvanising the action needed to drive progress across the global ESG agenda. Visit the sustainable finance hub Related content Thought Piece Navigating Nature’s Value | Insights into the Biodiversity Credit Market May 2024 - Nature sustains both economies and livelihoods. Yet despite the alarming risks that society faces from nature loss, nature restoration and conservation projects still face a significant financing gap. Navigating Nature’s Value | Insights into the Biodiversity Credit Market Thought Piece International financial & professional services firms access the workers they need in the UK May 2024 - The UK’s talent pool is the bedrock of its world-class FPS sector. This competitive edge explains why so many international financial and professional services (FPS) firms choose to locate in the UK. International financial & professional services firms access the workers they need in the UK Research Report The UK | a top destination for financial and professional services investment Apr 2024 - Research led by the City of London Corporation shows that the UK continues to be Europe's most popular destination for foreign direct investment in financial and professional services The UK | a top destination for financial and professional services investment News Women pivoting to digital Apr 2024 - Announcing a new taskforce taking action around women pivoting from non-technical backgrounds into digital roles Women pivoting to digital