Environmental Defense Fund’s Post

I still believe in the power of credible carbon markets, including for natural climate solutions, and I worry about the lack of credible info out there - on both sides those claiming carbon markets are always bad and evil (they are not) and those trying to sell hot air. Clearly, stakeholders across the climate space need urgent help to cut through the noise on Natural Climate Solutions (NCS) crediting. Very proud to see new NCS Crediting Handbook just published by Environmental Defense Fund colleagues. It clearly lays out how high-quality NCS crediting can work—for credit sellers, for credit buyers, and as part of an effective and ethical global climate response. https://www.edf.org/Z6XZ

Due to the increasing urgency and severity of climate change, there is a growing need for small and medium-sized businesses to engage in carbon accounting to measure and manage their carbon footprint. Duncan Oswald CEnv FIEMA, Climate Science Lead at Sage, joins us to discuss the carbon footprinting solution that is accessible to smaller businesses. #cpa #accounting #cpd #cpe #climatechange #carbonaccounting #carbonfootprinting

Climate change and global warming are indisputable. But that doesn’t mean that the popular solutions presented in the west actually work or even based on good science. Carbon accounting and fossil fuel bans are actively harmful to qualify of life and economic development potential in the developing world, and don’t even achieve their intended effect in the rich world countries that push their adoption. They are **empirically** bad solutions to the changes we are experiencing, and represent gross misallocation of financial and political capital. Like I keep saying - the focus should be on creating ecologically sustainable improvements to quality of life. Not trying to control consumption of carbon by billions of people around the world who lack grid connection and so burn fossil fuels to heat their homes during winter.

The SBTi just published an evidence review that pretty comprehensively trashes carbon credits: "[V]arious types of carbon credits are ineffective in delivering their intended mitigation outcomes." "There could be clear risks to corporate use of carbon credits for the purposes of offsetting. This includes potential unintended effects of hindering the net-zero transformation and/or reducing climate finance." "All Tier A evidence challenge the legitimacy of offsetting claims, arguing that treating carbon credits as fungible with other sources, sinks, or reductions of emissions is inadvisable, illogical, or damaging to global mitigation goals." https://lnkd.in/eJfTuPyD

As expected SBTi's comprehensive review shows that carbon credits don't work and can even be counterproductive to meeting climate targets. Why? Because they are currently providing a cheap, unregulated alternative to making the deep, costly and complex reductions necessary within organizations' own spheres of influence. Carbon credits will be a critical contributor to climate and nature solutions, once they are (a) well regulated and governed, (b) seen as complementary to deep decarbonisation, as a way to transfer finance where it's needed the most.

Significant reading for all you remaining voluntary carbon market enthusiasts. #carboncredits What we need is not voluntary compensation efforts but mandatory prices on all types of ghg emissions, by way of simple, fair, and effective regulation. #climateincentive Many thanks Simon Evans for pointing out the essence of the findings reported by the Science Based Targets initiative.

The writing has been on the wall for the demise of voluntary carbon credits for some time. I don't know if this is the final nail in the coffin, but earlier in the year it did seem possible that the SBTi would pivot to allowing more carbon credits within their Corporate Net Zero Standard which would have been a significant boost. Little chance of that happening now. Factor in the pretty feeble performance of the durable Carbon Dioxide Removal market (yes, that very much includes Climeworks) and you are reminded of the simple fact that getting to net zero means reducing emissions now - not wishful thinking about balancing them with removals today or tomorrow.

Montagu is pleased to share its 2023 Task Force on Climate-related Financial Disclosures (TCFD) Report. At Montagu, we recognise the role that robust disclosures on climate change can have in helping to deliver a safe and orderly transition and have been a supporter of the framework of recommendations set by the TCFD, since November 2021. We are committed to our pledge to support the transition to a zero-carbon economy and to manage the risks that arise as a result of climate change. View our 2023 TCFD Report here: https://lnkd.in/ec2w4N9N #Montagu #TCFD #Sustainability #ESG

Useful discussion and summary of SBTi’s recent review of carbon credits…

Banpu has taken proactive steps to enhance transparency and sustainability responsibility. Our second Climate Change Report has been released, disclosing information accordance with the Task Force on Climate-related Financial Disclosures (TCFD) recommendations. You can read the full report here. https://lnkd.in/gXj7S9-J #Banpu #SmarterEnergyforSustainability