This report constitutes the first global assessment of the agrifood sector in the voluntary carbon market (VCM), which is where carbon credits are issued, bought and sold in the private sector. The purpose is to better understand the status of the agrifood sector in the VCM, identify impacts and opportunities for scaling up, as well as trends and innovations for agrifood that can inform emerging national and international carbon market policy and programs. The agrifood sector has great global potential to remove carbon from the atmosphere, reduce emissions of greenhouse gases (GHG), and generate Sustainable Development Goals (SDG) co-benefits. However, the up-front investment needed and the lack of incentives to change and maintain farming practices hold back adoption and upscaling. The VCM provides a source of additional private funding by unlocking finance flows from companies that purchase agrifood carbon credits as offsets to their corporate emissions or for positive contribution claims.
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