Last week, the Business Alliance for Climate Action (BACA) convened a roundtable in Brussels on Voluntary Carbon Markets (VCMs) and the Green Claims Directive (GCD) for representatives of EU industry, climate finance leaders, NGOs, think tanks, carbon markets intermediaries, and policymakers.

The session titled “A Business Case for Decarbonisation: Carbon Credits for Climate Action” focused on aligning climate goals with smart policy. Participants shared their views on the GCD ahead of the political trilogues scheduled to continue next week.

‍Key takeaways included:

• The GCD should bring clarity—not confusion—to companies and markets.
• Emissions reductions and removals are both vital to reaching net zero.
• Corresponding Adjustments (CAs) aren’t needed for VCM credit use.
• Requiring permanence could limit investment in Nature-Based solutions (NBS) —essential for near-term progress.
• Companies should be able to use carbon credits for all emissions, not just residuals.

In her closing remarks, BACA Co-Chair Jennifer Jenkins thoughtfully summarized the points of agreement shared by the diverse participants: The GCD should prioritize transparency, avoid regulatory overlap, support credible net-zero and carbon-neutral pathways, and back responsible NBS without stifling innovation. Good show!

👉 Learn more in Jennifer Jenkins and Janet Peace’s op-ed in Euractiv or watch our webinar: The GCD - Catalysing Climate Action.