What is the voluntary carbon market (VCM)?

The voluntary carbon market (VCM) allows organizations and individuals to purchase carbon credits on a voluntary basis — outside of compliance obligations — to offset emissions, meet net-zero targets, or support climate action. Credits represent verified emission reductions or removals from projects like renewable energy, forest conservation (REDD+), direct air capture, and biochar.

What is an Environmental Attribute Certificate (EAC)?

An Environmental Attribute Certificate (EAC) decouples the environmental attributes of a low-carbon product from its physical delivery using a book-and-claim chain of custody model. For cement and concrete, EACs allow buyers to financially support low-carbon production and claim Scope 3 inventory benefits without requiring the physical product to be delivered to their project site.

What is the difference between EACs and RECs?

RECs (Renewable Energy Certificates) represent the environmental attributes of renewable electricity generation and are used for market-based Scope 2 accounting. EACs (Environmental Attribute Certificates) are a broader category that can apply to products beyond energy — including cement, concrete, steel, and other materials — and are primarily used for Scope 3 claims. Both use a book-and-claim approach to decouple environmental attributes from physical delivery.

What makes a carbon offset 'high integrity'?

High-integrity carbon offsets must demonstrate additionality (the emission reduction would not have happened without the offset revenue), permanence (the reduction is durable and not easily reversed), measurability (emissions reductions are quantified using robust methodologies), avoidance of leakage (the project doesn't shift emissions elsewhere), and no double counting. The ICVCM Core Carbon Principles and VCMI Claims Code provide the leading frameworks for assessing offset integrity.

What is Climate Decode's Canopy?

Canopy is Climate Decode's AI-powered residual emission procurement platform built for managing the last 20% of emissions that remain after compliance reductions. It provides an end-to-end workflow: Scope 3 strategy and residual calculation, AI-curated origination of offsets, EACs, and RECs, RFQ management and portfolio optimization, procurement tracking from PO to retirement, and audit-ready compliance reporting for CSRD, AB1305, and VCMI.

Who leads Climate Decode's VCM Series?

The VCM Series is led by Abhishek Das at Climate Decode. Abhishek works on voluntary carbon markets and residual emission procurement strategy, bridging industrial decarbonization with emerging book-and-claim frameworks and credible residual balancing approaches.

VCM Series — Voluntary Carbon Markets, EACs, RECs & High-Integrity Offsets | Climate Decode

Climate Decode's VCM Series covers voluntary carbon markets (VCM), Environmental Attribute Certificates (EACs), Renewable Energy Certificates (RECs), high-integrity carbon offsets, SBTi fundamentals, GHG Protocol Scope 2, RE100, and the procurement frameworks for residual emission balancing. Nine articles by Abhishek Das and Koorosh Behrang: (1) SBTi Net Zero Standard V2 — From Abatement Only to Abatement Plus Responsibility: Analysis of the second consultation draft, OER replacing BVCM, demand quantification for 10,000+ SBTi companies. (2) SBTi 101 — Comprehensive guide to the Science Based Targets Initiative, the net-zero framework, 5-step target-setting process. (3) How Voluntary REC Markets Really Work — Complete REC lifecycle from issuance through M-RETS and WREGIS tracking to retirement, double-counting prevention, Green-e certification, additionality. (4) Understanding GHG Protocol Scope 2 — Dual reporting framework, location-based vs market-based emissions accounting, Quality Criteria for contractual instruments. (5) RE100 & Renewable Energy Certificates — Technical framework for corporate 100% renewable electricity targets, 15-year commissioning rules, 2027 EAC mandates, procurement types. (6) EACs — Book and Claim for Cement: How EACs Could Reshape Scope 3 Strategy. (7) VCM 101 — How voluntary carbon markets work (coming soon). (8) High Integrity Offsets — ICVCM Core Carbon Principles and VCMI Claims Code (coming soon). (9) RECs — Scope 2 accounting and procurement best practices (coming soon). Powered by Canopy — Climate Decode's AI-powered residual emission procurement platform.

Topics and Keywords

VCM, voluntary carbon market, carbon offsets, carbon credits, EAC, environmental attribute certificate, REC, renewable energy certificate, book and claim, Scope 2, Scope 3, SBTi, VCMI, ICVCM, Core Carbon Principles, Claims Code, high integrity offsets, additionality, permanence, co-benefits, nature-based solutions, NBS, REDD+, CDR, carbon dioxide removal, residual emissions, net zero, Canopy, Climate Decode, Abhishek Das.

Canopy • VCM Series

Voluntary Carbon Markets, EACs & RECs

From offset integrity and book-and-claim frameworks to REC procurement and residual emission strategy — the intelligence layer for voluntary action.

9 Articles

By Abhishek Das & Koorosh Behrang • Updated March 2026

Articles • Series Lead • Canopy

Published & Upcoming Articles

SBTi Net Zero • OER • VCM Demand

V2 Draft Analysis Latest

SBTi Net Zero Standard V2: From Abatement Only to Abatement Plus Responsibility

The most significant revision to corporate net-zero target setting in a decade. What V2 proposes, how Ongoing Emission Responsibility replaces BVCM, the avoidance-to-removals phase-out, demand quantification for 10,000+ SBTi companies, and what sustainability teams should be doing now.

By Abhishek Das • March 2026 • 14 min read

Read Article →

SBTi Companies

10,000+

Min VCM Demand

100M+ /yr

Status

Second Draft

SBTi Fundamentals

101

SBTi 101: The Science Based Targets Initiative Explained

A comprehensive guide to setting science-based targets, the net-zero framework, and the 5-step target-setting process for corporate climate strategy.

By Koorosh Behrang • March 2026 • 8 min read

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RECs & Scope 2

M-RETS • WREGIS

How Voluntary REC Markets Really Work: Issuance, Tracking & Retirement

Complete guide to the REC lifecycle from issuance through M-RETS and WREGIS tracking to retirement. Double-counting prevention and Green-e certification.

By Koorosh Behrang • March 2026 • 15 min read

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Scope 2 & Energy

GHG Protocol

Understanding GHG Protocol Scope 2: The Dual Reporting Framework

Location-based vs. market-based emissions accounting, Quality Criteria for contractual instruments, and renewable electricity procurement strategy.

By Koorosh Behrang • March 2026 • 12 min read

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RE100 & RECs

V5.0 • 2027

RE100 & Renewable Energy Certificates: A Strategic Framework

Technical framework for 100% renewable electricity targets. RE100 requirements, 15-year commissioning rules, 2027 EAC mandates, and procurement strategy.

By Koorosh Behrang • March 2026 • 14 min read

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Fundamentals

VCM

VCM 101: How Voluntary Carbon Markets Work

Credit types, quality frameworks, registries, pricing dynamics, and the role of voluntary action in corporate net-zero strategy.

By Abhishek Das • Coming Soon

Coming Soon

Offset Quality

ICVCM • VCMI

High Integrity Offsets: Separating Signal from Noise

Evaluating offset quality, additionality, permanence, co-benefits, and alignment with ICVCM Core Carbon Principles and the VCMI Claims Code.

By Abhishek Das • Coming Soon

Coming Soon

EACs & Scope 3

RMI • SBTi

Book and Claim for Cement: How EACs Could Reshape Scope 3 Strategy

The RMI/GMA framework, SBTi V2 signals, GCCA eligibility thresholds, and how Canopy supports end-to-end EAC procurement for cement and concrete.

By Abhishek Das • March 2026 • 12 min read

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Scope 2 & Energy

RECs

RECs Explained: Scope 2 Accounting, Additionality & Procurement

Market-based Scope 2 accounting, unbundled vs bundled RECs, additionality considerations, and procurement best practices for corporate renewable claims.

By Abhishek Das • Coming Soon

Coming Soon

Ready to Build Your Residual Emission Strategy?

Climate Decode's Canopy is an AI-powered residual emission procurement platform — from calculating residual emissions and curating offsets, EACs, and RECs to RFQ management, portfolio optimization, and audit-ready compliance reporting.

Get in Touch →

VCM Series Lead

Abhishek Das

Climate Decode

Abhishek leads Climate Decode's voluntary carbon markets and residual emission procurement strategy. The VCM Series explores how offsets, EACs, RECs, and emerging instruments fit into credible, auditable residual balancing strategies — powered by Canopy.

Contact Abhishek →

Canopy

Climate Decode's AI-powered residual emission procurement platform. Calculate residuals, curate offsets, EACs, and RECs with AI matching, manage RFQs and portfolio optimization, and generate audit-ready reports for CSRD, AB1305, and VCMI — all in one workspace.

Learn More →

climate-decode.com • Insights Hub • CDR Series

Catalysing Capital for Decarbonisation

Carbon Markets Intelligence & Analysis

MRV, Decarbonisation Planning, Incentives & Market Position

Residual Balancing — End-to-End Procurement

India's Carbon Credit Trading Scheme — Market Outlook

Global Voluntary Carbon Market Coverage

CFR Series — Canada Clean Fuel Regulations

VCM Series — RECs, Scope 2, RE100, SBTi & Net Zero

Voluntary Carbon Markets, EACs & RECs

SBTi Net Zero Standard V2: From Abatement Only to Abatement Plus Responsibility

SBTi 101: The Science Based Targets Initiative Explained

How Voluntary REC Markets Really Work: Issuance, Tracking & Retirement

Understanding GHG Protocol Scope 2: The Dual Reporting Framework

RE100 & Renewable Energy Certificates: A Strategic Framework

VCM 101: How Voluntary Carbon Markets Work

High Integrity Offsets: Separating Signal from Noise

Book and Claim for Cement: How EACs Could Reshape Scope 3 Strategy

RECs Explained: Scope 2 Accounting, Additionality & Procurement

Ready to Build Your Residual Emission Strategy?

Abhishek Das

Canopy