Amendment to the Money Collection Act would allow for voluntary carbon offsetting services

NordenBladet — The aim is to amend the Money Collection Act so that voluntary carbon offsetting services would be excluded from the scope of the Act. In future no money collection licence would be required for voluntary carbon offsetting. The Government submitted to Parliament a proposal to amend the Money Collection Act on 16 September 2021.Voluntary carbon offsetting provides a mechanism for offsetting greenhouse gas emissions, for example from travel or products to be purchased by means of a payment. Aim is to clarify legislation and enable development of carbon offsetting servicesThe legislative amendment aims to clarify the relationship between the Money Collection Act and voluntary carbon offsetting. Companies and organisations that provide carbon offsetting services seem to find the current legislation unclear.Money Collection Act mainly regulates money collection for non-profit purposesThe Money Collection Act lays down provisions on organising the collection of money and supervising the appropriateness of the collection. Money collection means activities in which funds are collected without compensation by appealing to the public. Money collection requires either a money collection licence that is granted by the National Police Board or, in the case of a small-scale money collection, submission of a notification to the local police department. Companies may not be granted a money collection licence.

Source: Valtioneuvosto.fi