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 Twitter Twitter 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 The UK | a resilient fintech investment environment Feb 2023 - Innovate Finance’s recent fintech Investment Landscape report for 2022 showed a tough year for fintech, but the UK stands out as a resilient market with a lot of promise. The UK | a resilient fintech investment environment Thought Piece Corporate Venture Capital: harnessing the UK’s potential Jan 2023 - Against a backdrop of rising rates and lowering valuations in tech, we take a closer look at venture capital opportunities for corporates, scale-ups and start-ups alike. Corporate Venture Capital: harnessing the UK’s potential Thought Piece Six sustainable finance developments to watch out for in 2023 Jan 2023 - 2023 is shaping up to be a landmark year in sustainable finance. Here are six key developments to watch out for. Six sustainable finance developments to watch out for in 2023 Case Study abrdn | making a long-term commitment to the US market Jan 2023 - We spoke to abrdn about the group's long-term expansion plans and the challenges of growing in the highly competitive US asset management market. abrdn | making a long-term commitment to the US market