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 Related content Thought Piece Baku to Belém: Reflections from Net Zero Delivery Summit 2025 Jul 2025 - The Net Zero Delivery Summit marks the crucial halfway point between climate COPs. The message of the day was a celebration of action, and championed the central role of finance in the path to net zero. Baku to Belém: Reflections from Net Zero Delivery Summit 2025 Research Report The City of London Corporation's work in support of financial and professional services: annual review 2024/2025 Jul 2025 - Explore the progress we’ve made in championing the UK’s financial and professional services industry in 2024/2025. The City of London Corporation's work in support of financial and professional services: annual review 2024/2025 News Employer Pension Pledge Jul 2025 - The Employer Pension Pledge aims to enhance the value of pensions by promoting a focus on value for money rather than just cost when selecting pension providers Employer Pension Pledge Research Report The future of financial and professional services investment in the UK Jul 2025 - A proposition for the creation of a financial services Investment Hub, a single national platform to streamline investor engagement and unlock billions in capital for growth. The future of financial and professional services investment in the UK