COMMENT: Four key considerations for businesses buying carbon credits
Businesses are increasingly aiming to incorporate Natural Climate Solutions (NCS) into their climate plans to fulfil their climate and nature commitments. Jennicca Gordon of the Natural Climate Solutions Alliance outlines how they can ensure the integrity of the credits they purchase and communicate their efforts effectively.
Read MoreCOMMENT: Human rights due diligence and the role of carbon offsetting
The problem with carbon offsetting as a means for companies to bear responsibility for their emissions is not the concept itself, but its current implementation. Rather than limiting the use of carbon offsetting by banning terms like “carbon neutral”, policymakers should drive forward reforms to improve the quality of the carbon market, writes Lasse Leipola of Finnwatch.
Read MoreCOMMENT: Communication is key – four ways carbon projects can better engage with Indigenous people
Developers need to embed Indigenous leadership into projects in a way that is not fundamentally disempowering, and for this there must be lasting, genuine interactions between project developers and people on the ground, writes Isack Bryson of Carbon Tanzania.
Read MoreCOMMENT: Carbon isn’t just another commodity market
Behind all the noise, opinions, and stakeholders, lies one meta debate in the voluntary carbon market: Tommy Ricketts of BeZero Carbon asks what financial market structure should it ape?
Read MoreCOMMENT: Emissions trading – the market is overlooking UK cap reforms
The UK ETS is instrumental in achieving the country’s net zero emissions goals and enhancing opportunities for carbon investors, but the British government’s commitment to implementing reforms necessary for a robust carbon market has been overlooked amid the mainstream media’s focus on the lack of green industry incentives, write Ruben Lubowski and Callum Lee, Lombard Odier Investment Managers.
Read MoreCOMMENT: Four things holding back the voluntary carbon market
On March 29th, a group of climate leaders including Zeke Hausfather of Stripe, Alicia Seiger of Stanford, Elizabeth Sturcken of Environmental Defense Fund, Zack Parisa of NCX, and moderator, Shyla Raghav from CO2 – TIME gathered in NCX’s “Treehouse” in San Francisco to discuss and debate the challenges facing nature-based solutions, and the voluntary carbon market. Here are a few takeaways from their discussion.
Read MoreCOMMENT: In defence of nature-based carbon offsets
Carbon offsets are not the solution to climate change, nor should they be the central pillar of any country or government’s net zero plans. But they are very important in the short and medium term because many emissions that cannot be reduced away can be offset, taking that damaging CO2 back out of the atmosphere, writes Ed Mitchard, chief scientist at UK-headquartered nature tech firm Space Intelligence.
Read MoreCOMMENT: Including high-quality J-REDD+ can help the ICVCM accelerate a just transition, integrity, and scale in the voluntary carbon market
Jurisdictional REDD+ (J-REDD+) programmes can be a critical means for the Integrity Council for the Voluntary Carbon Market (ICVCM) to achieve its objectives of scale, integrity, and a just transition, argue Mark Moroge, Breanna Lujan, and Julia Paltseva of the Environmental Defense Fund.
Read MoreCOMMENT: The need for clarity around corporate climate claims – a review of the defining elements of corporate climate claims
While public, private, and hybrid efforts are emerging that seek to better govern climate-related claims, currently the engagement of companies in voluntary carbon markets is greatly hampered by the lack of understanding and clarity around the types of claims that can be accurately and credibly made when integrating carbon credits into corporate climate strategies. A recently published academic paper seeks to review and define the core elements of such claims.
Read MoreCOMMENT: Solar Radiation Modification – an additional tool to fight global warming?
Solar Radiation Modification might provide an auxiliary tool to help reduce climate risk, limit suffering, lessen ecosystem degradation and improve the chances of sustainable development, but SRM is far from perfect, write scientists Claudia Wieners, Ben Hofbauer, Iris de Vries, Matthias Honegger, Daniele Visioni, Herman Russchenberg, and Tyler Felgenhauer in an open letter already supported by around 50 global scientists.
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