Carbonaires

Carbonaires are proud that after a lengthy and rigorous application process, we have been accepted as a member of the prestigious IETA, which since 1999 has been a global leader advocating high integrity principles for the carbon markets. The process was extremely thorough as it should be, with multiple professional references taken up (thanks to our esteemed referees and we will be happy to reciprocate if ever needed).    This is such a refreshing approach given the market’s need for high integrity. So, it’s a well done to IETA from us and sincere gratitude. And thanks to the members for making IETA as strong and reliable as it is.    There are lots of global multi sector collaborative initiatives that can learn from this best practice approach.   We look forward to learning a lot and will do our best to earn our place.   Thanks again IETA   The Carbonaires team

Oman has published a 'developer friendly' carbon market policy framework that closely aligns with Article 6. The document, seen by Quantum Commodity Intelligence is said to be "one of the most complete seen globally on Article 6". Oman's policy outlines a clear framework that's created from the viewpoint of developers and "end markets", with the intention of improving developer confidence in its VCM. To register, projects must follow a standardised process, validation by an external auditor and undergo public consultation. As the countdown to COP29 Azerbaijan begins - where Oman plans to officially launch the policy - anticipation of what the finalised Article 6 framework will look like (and if it will be signed into the final text) is mounting. Read the full article here: https://lnkd.in/dRVakjuy #COP29 #Article6 #CarbonMarkets #Policy

Nature based projects are necessary and need funding. Amazing that the climate crisis is literally changing nature around us and yet action isn’t at or near the levels necessary. Well done to World Economic Forum for raising awareness.

An interesting article by LSEG (London Stock Exchange Group) in the Financial Times explains the vital role VCMs can play in delivering a net-zero global economy.   The article highlights the enormous potential for growth in the carbon markets, underpinned by increasing demand from corporates.   While some existing barriers to engagement from buyers and investors remain, innovative solutions are emerging to improve access to high quality carbon credits.   LSEG’s Voluntary Carbon Market Designation is one of those solutions, ensuring that listed entities adhere to standards set out in its eligibility criteria and providing regulatory oversight.   Read more here: https://lnkd.in/deRRfVJ2   #LSEG #VCM #Finance

Nearly two thirds of all sustainability targets set by large businesses in the UK will be achieved by the purchase of carbon credits, finds a recent study by Gallagher   Interestingly, the research points out a shift towards carbon removals, instead of traditional methods.   According to the study, almost 90% of businesses believe that the market needs more regulation.    We couldn’t agree more. Developing a more robust VCM - with high quality credits and stringent guardrails - has never been more important.   Read more here: https://lnkd.in/dTx3zEQW    #CarbonRemovals #UK #Business

Nine days of (maybe?) environmentally themed art by Banksy in London   Londoner’s including our team at the Carbonaires HQ have been intrigued and enthused by the emergence of 9 new animal themed artworks in London by acclaimed street artist and activist Banksy over the last couple of weeks.   There has been much debate as to what they mean. Our take? there is a precariousness to our natural environment (including but not limited to biodiversity) that is becoming increasingly obvious, even if you don’t look for it. https://lnkd.in/dmqWA_8y

Recent research by Polaris Market Research & Consulting predicts the VCM will be worth over $14.5 bn by 2032, growing by a compounded rate of more than 25% every year from today. For context, the market is currently valued just south of $2.5bn. Advanced projects such as carbon capture and storage (#CCS), soil carbon sequestration and blue carbon are cited as primary methodologies fuelling the projected market growth. Increased regulatory pressures, more robust corporate sustainability goals and evolving consumer preferences are also cited as influential factors accelerating demand for high integrity carbon credits. Interestingly, the study finds that companies based in North America currently represent the largest share of the market. This follows the introduction of federal policy guidelines by the White House earlier this year, highlighting the synergies between government action and carbon market participation. Read the full report here: https://lnkd.in/ds3GGut9 #VCM #USA #Policy

An interesting article in Reuters explains how businesses can align their ESG strategies with the Voluntary Carbon Markets Joint Policy Statement and Principles set out by the The White House.    The three key takeaways are: 1️⃣ Corporations should invest in carbon credits which are additional, verifiable and result in permanent CO2 reductions. It's crucial that investment is directed towards projects that deliver co-benefits to local communities and avoid negative externalities. 2️⃣ Businesses must focus on reducing emissions within their supply chain as well as investing in high quality carbon credits: "VCMs should complement measurable within-value-chain emissions reductions as part of an overall decarbonization strategy." 3️⃣ Accurate and transparent disclosure of carbon credit statements (e.g. purchases, cancellations or retirement of credits) are critical to upholding integrity within the market.   Read the full article here: https://lnkd.in/d8eAwDij   #VCM #ESG #Sustainabilty #Decarbonisation

Meta and big tech continue to ramp up investment and collaboration in carbon removal.    Meta has teamed up with other tech giants like Microsoft, Google and Salesforce, to create the Symbiosis Coalition. Under the agreement, the companies have pledged to collectively contract up to 20 million tons of high-quality, nature-based carbon removal credits by 2030. Meta has pledged to purchase 6.8 million tonnes of carbon removal credits.   This is the latest collaboration by Meta in what’s been an active three years in the carbon removal space. The company is investing in a diverse range of technological and nature-based removal projects, from Direct Air Capture (#DAC) to soil carbon removal methods. Its partnership with the World Resources Institute (WRI) is improving forest monitoring, and its work with the Business Alliance to Scale Climate Solutions (BASCS) is driving equity, transparency and quality in carbon market standards.    These are great examples of how collaboration is driving the growth of essential carbon lowering and removal technologies.   Read more about Meta's CDR actions over the past three years: https://lnkd.in/dG2MazX7   #Tech #BigTech #NetZero #CarbonRemovals

On the back of our most recent newsletter on Japan's carbon market (https://lnkd.in/dMmgGzDi), an interesting recent Reuters article (https://lnkd.in/dum7YK9M) reports that APEC businesses are in discussion to launch a VCM pilot programme for the entire Asia-Pacific region.   At meetings in Tokyo over the weekend, organisations discussed the urgent need for public and private co-operation to finance (and accelerate) APEC's transition to a lower-carbon economy.   Hiroshi Nakaso - Head of the Finance and Investment Taskforce at ABAC (APEC's Business Advisory Council) - explains the goal of developing an "interoperable, or mutually tradeable, voluntary carbon credit network within the Asia-Pacific region".   #APEC #VCM #CarbonRemoval #ABAC