Defra must agree a quality regime with the voluntary offset providers if its Code of Practice is to be of any use
Defra has decided that the voluntary offsetting industry does not demonstrate that its offsets are properly verified. If the industry can develop a credible quality regime, Defra is prepared to include voluntary offsetting in its Code of Practice (to be launched this summer). Otherwise, the Code of Practice will only cover credits that are approved by the UN (principally CERs).
The voluntary offset providers will now work frantically with Defra to deliver a quality regime. If Defra cannot agree a regime with the voluntary offset industry, what will be the purpose of the Code of Practice? What would be the value of a Defra stamp of approval that is only for offsets already approved by the UN?