31 May 2023
BeZero Carbon and OxCarbon collaborate to boost Voluntary Carbon Market transparency and scale climate investment
BeZero Carbon, a global carbon ratings agency, and OxCarbon, a non-profit spin-out from the University of Oxford, have today announced a collaboration to increase transparency in the Voluntary Carbon Market (VCM)
The collaboration will see OxCarbon work with carbon credit project developers at the design stage to make independent ratings and assessments from BeZero Carbon easier
This will increase transparency in the VCM, ultimately increasing confidence in using carbon credits to help reach Net Zero, while also scaling access to high-quality ratings for community-based carbon credit projects
OxCarbon’s mission is to promote innovation in climate impact projects, supported by transparency and scientific best-practice. BeZero’s Carbon is the world’s largest provider of ratings-based risk analysis in the Voluntary Carbon Market, providing market participants with the information they need to make better Net Zero decisions.
Thanks to this collaboration, OxCarbon will work with carbon credit project developers, including community-based projects and those supporting rural organisations, to engage with BeZero Carbon during their design phase. This will help developers understand the information they need to publicly disclose so BeZero Carbon can provide ratings for market participants. Crucially, this will not influence the rating BeZero Carbon provides, which will be subject to its usual rigorous and independent analysis.
Tommy Ricketts, CEO of BeZero Carbon said:
“BeZero is proud to collaborate with OxCarbon on building data disclosure requirements into projects at the design phase. BeZero Carbon Ratings uniquely require projects to publicly disclose sufficient information to justify their carbon claims. Working with OxCarbon to ensure this is an essential building block for ensuring the integrity in the credits can be fairly assessed by investors, intermediaries, and end buyers alike. The analytical expertise of BeZero, combined with the transparent and scientific best practice approaches developed by OxCarbon, will help boost confidence for scaling of financial investment into the high-quality carbon projects we need to fight the climate crisis.”
Stephen Lezak, Carbon Accounting Lead at OxCarbon, said:
“The huge climate challenge ahead of us will require huge climate impact investment. In order to facilitate this, data-driven and scientific approaches that can assess climate impact at scale are essential. Full transparency enforces integrity by allowing independent expert assessment by companies such as BeZero - which in turn can unlock investment capital.”