FTI Consulting Helps Establish the UK as One of the World’s First Voluntary Carbon Markets

As more companies begin their transition to net-zero greenhouse gas (“GHG”) emissions, they are increasingly incorporating carbon credits, a credit that represents one ton of carbon dioxide removed from the atmosphere, into their carbon-neutral pathways. Companies can choose to purchase these credits to offset their unavoidable emissions,¹ and one pathway for this purchase is through a Voluntary Carbon Market (“VCM”).²

Situation

FTI Consulting’s Strategic Communications segment in London was engaged on a pro bono basis by the Steering Committee of the UK Voluntary Carbon Markets Forum, which was formed by Dame Clara Furse. The Steering Committee’s objective was to create the Core Carbon Principles, which would bring forth high-quality, consistent and transparent standards to the global supply of carbon credits. This objective was set in response to the Taskforce on Scaling Voluntary Carbon Markets launched by Mark Carney, the United Nations Special Envoy for Climate Action and Finance and then Finance Advisor to the UK Prime Minister for the 26th Conference of the Parties (“COP26”).

Our Role

FTI Consulting worked with the Steering Committee to submit an expression of interest that would secure key roles for the Corporation of London and The Green Finance Institute on the new global governance body that will drive forward the scaling of high-integrity VCMs.
FTI Consulting also became an active member of the Steering Committee and led the design and direction of its strategic communications plan, which helped the Committee share its strategy at COP27 in November 2022.
In addition to supporting all the Steering Committee’s communications, FTI Consulting acted as its key point of contact for global media inquiries.

Our Impact

FTI Consulting dedicated more than 60 hours of pro bono services to help position London as a leading global green finance center.
Furthermore, the team’s work has helped shape the global VCM debate, which positioned the topic as a key theme at both COP26 and COP27.
FTI Consulting recognizes that although our work contributes to quality standards for VCMs, which will be a cornerstone in the global climate response, there needs to be continual education on VCMs and their benefit. We look forward to continuing our work with the Steering Committee to support the creation of a proactive education communications plan.

“Quality and transparent VCMs are emerging as a cornerstone in the global climate response. FTI Consulting worked directly with senior players in both the private and public sectors in London to shine a light on a critical part of the sustainability agenda. While continued progress and education is required, we are pleased to have the opportunity to draw on the depth and breadth of FTI Consulting’s expertise to help make the case for voluntary carbon markets.” — Paul Harris, Managing Director, Strategic Communications

Footnotes:

1: https://www.nbcnews.com/business/business-news/are-carbon-credits-fighting-climate-change-became-billion-dollar-indus-rcna3228

2: https://ukcop26.org/delivering-high-integrity-inclusive-voluntary-carbon-markets-for-1-5c/