1、2The Role of Carbon Markets in Achieving Net-Zero Emissions:A Focus on Challenges of the Voluntary Carbon MarketIntroductionClimate change remains the most critical global challenge today.As of 2021,the Intergovernmental Panel on Climate Change(IPCC)confirmed that numerous adverse climate effects we
2、re now inevitable,with global warming already at 1.1C above preindustrial levels Advanced climate models paint a troubling picture of the future,forecasting severe storms,wildfires,species extinctions,and the collapse of ecosystems.This escalating crisis poses a direct threat to global businesses an
3、d communities,with the potential for increasingly severe disruptions unless decisive action is taken.Current research emphasizes the necessity of limiting the increase in global average temperature to below 1.5C above preindustrial levels to mitigate the most severe consequences of climate change.Ac
4、hieving this critical target requires reaching net-zero greenhouse gas(GHG)emissions by mid-century,including a substantial reduction of at least 50%by 2030 relative to 2010 levels.This strategy addresses both environmental risks and economic instability,helping to stabilize conditions by reducing t
5、he impacts of climate-related disruptions.A widely held view among global economic stakeholders is that it is in every companys best interest to prioritize efforts to avoid,reduce,and neutralize emissions sequentially within their operations and across their value chains.While carbon credits are val
6、uable tools,they should not be used to unjustifiably delay or substitute direct emission reductions.Nonetheless,carbon markets hold significant potential to complement these reduction efforts by offering financial incentives for additional emissions reduction projects.They also serve as catalysts,ac
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