To support future Voluntary Carbon Markets (VCM) policy development, the Welsh Government asked the Wales Centre for Public Policy (WCPP) to investigate how other countries have developed schemes and policies, including regulations, relating to VCMs, and how lessons from these countries could be applied in Wales.
This report provides a series of country case studies. These case studies each present a qualitative analysis of policy documentation and supporting literature, highlighting key features of VCM policy development in the respective country. The report also evaluates key themes related to the application of VCMs and policies and regulations to control their use in Wales. These themes were distilled from desk research and engagement with Welsh Government officials early in the research process. The report concludes by drawing out lessons and implications from the country case studies for the Welsh Government to consider with respect to engaging with VCMs.
The Welsh Government expressed particular interest in the following two main questions that are explored in this report:
- How have other countries and regions developed and implemented policies, schemes and or/regulations on VCMs?
- How could lessons from these countries and regions be applied in Wales?