Measuring, Reporting, and Verifying (MRV) Carbon Credits

Sustainable development experts and policy makers expect carbon markets to drive climate finance and help meet climate goals. Carbon pricing and carbon markets continue to evolve and grow. New schemes and instruments were introduced with fiscal revenues reaching a record $104 billion from carbon taxes and emission trading systems in 2023 (2024 State and Trends of Carbon Pricing, The World Bank). However, for carbon credit markets integrity remains a challenge, particularly in verifying that greenhouse gas (GHG) emission reductions and removals are as claimed. This note provides a basic introduction into measuring, reporting, and verifying (MRV) emission reductions with a focus on carbon crediting