Leslie Durschinger

When I first encountered 'financial additionality' as a concept applied to carbon removal credits it intuitively seemed to compound the "cold start problem" of building a new market. Why manufacture an unnecessary obstacle to liquidity before you've even started? My intuition was confirmed after the Nori supply and methodology team took me through the economics of American farming. I wanted to understand the obstacles and risks preventing farmers from adopting regenerative practices, and entering the voluntary carbon market (#VCM); only about 13.5 million acres of the 900 million acres of arable land in the US is regeneratively farmed. In this blog post Rick Berg and I make the case for why the academic concept of financial additionality doesn't make sense in practice if our end goal is to achieve systemic change to regenerative practices in agriculture, and to harness the potential of soil as a store of carbon by helping farmers generate revenue from the VCM.

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Some welcome news and progressive climate leadership from the Biden-Harris Administration. The Administration’s new Principles for Responsible Participation in the Voluntary Carbon Market state the obvious, but pave the way for demand that has been sat on the sidelines to now step in and step up. At emstream and emsurge have been working tirelessly on principles 6 & 7, contributing to efforts that improve market integrity and facilitating efficient market participation and succeeding in lowering transaction costs. Through our emsurge platform we are proud to have lowered transaction costs for many of our users. Through our collaborations with BeZero Carbon, Sylvera and Renoster we promote the importance of high quality credits. In addition to stimulating the demand side, it's great to see a government also supporting the tech innovations and cultural shifts in farming practices required to get to net zero. https://lnkd.in/dJnwwWfX #whitehouse #climate #vcm #volutarycarbonmarket #netzero #trading #markets #commodities #oilandgas #lng #carbonoffsets #carbonneutrallng #carbonneutral #sustainability #carbon Alexander Perrett Rodolfo Grave Lucy Camp Andrew Weiner Hugh Roper

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What is happening in the voluntary carbon market? 1. ⬆Increasing Confidence: The The Integrity Council for the Voluntary Carbon Market (ICVCM) has approved CAR, ACR, Verra, and Gold Standard as Core Carbon Principles-eligible carbon crediting programs. This has further instilled confidence among buyers in the “Big Four” registries. 2. ⬆Increasing Demand: The Science Based Targets initiative has approved the use of carbon offsets for companies to address their Scope 3 emissions to meet net zero claims. This creates a pathway for SBTi aligned companies to meet net zero goals via increased purchasing of offsets. Additionally, the U.S. Securities and Exchange Commission Ruling on Climate-Related disclosure sets a strong precedent for carbon accounting and disclosure. As companies are required to disclose material Scope 1 and 2 emissions, they will likely become more active in offsetting those emissions. After all, if your dirty laundry is out in the open, aren’t you more likely to clean it up and take it down? 3. ⬇ Reduction in Supply & ✈️Flight to Quality: MSCI Carbon Markets released an analysis showing that increased integrity standards have the potential to reduce purchasing volume of ‘low quality’ offsets by 50-80%. We are already seeing a reallocation of purchasing power from low quality credits that have oversaturated the market to high quality removals and nature based solutions (Notably, seeing Stripe recently sourced removals for $382 per ton by my math). If Core Carbon Principles is the impetus for buyers to get off the sidelines and invest in CCP approved credits, that is a lot of purchasing power unlocked for a relatively small volume of credits. Remember your Econ 101 days, ‘Demand-Pull Inflation’ is a condition in which too many dollars are chasing too few goods! 📈

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📢 First-of-its-kind study reveals conservation initiatives are critical for halting and reversing nature loss. 🏞️ In light of global commitments to halt and reverse biodiversity loss, understanding the effectiveness of conservation efforts is more crucial than ever. The research is the first comprehensive meta-analysis of its kind, as it analysed: 🟩 186 studies 🟩 665 trials 🌟 Authors examined over a century of conservation action, proving they yield positive outcomes, with a 66% success rate compared to no intervention. Beyond providing robust evidence of the impact of conservation actions, the study can inform vital international policies, including: 🔵 IUCN 20-year vision 🔵 IPBES biodiversity monitoring assessment 🔵 the Global Biodiversity Framework. 💰 According to previous studies, a comprehensive global conservation program would require an investment of between US$178 billion and US$524 billion. ⚠️ The current global investment stands at $121 billion. 🪙 This is surprising, as research also shows that the cost-benefit ratio of an effective conservation program is at least 1:100. 📜 With less than 6 years to achieve the ambitious biodiversity targets stated in the GBF, effective conservation efforts are urgently needed. 🌍 We have the data and proven methods to inform action—now we have to use them to create real, global impact. Click here to read the full report ➡️ https://lnkd.in/eviKgK6e  #NatureLoss #NatureConservation #NatureData #NatureRisk

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⛳ Big milestone for Voluntary Carbon Market We're excited about the U.S. Federal Government's announcement of a Joint Statement of Policy and new Principles for Responsible Participation in Voluntary Carbon Markets (VCMs). This initiative aligns perfectly with the Core Carbon Principles (CCPs) set by The Integrity Council for the Voluntary Carbon Market (ICVCM). As U.S. Department of the Treasury Secretary Janet Yellen stated, “Harnessing the power of markets and private capital is critical. High integrity VCMs offer significant potential economic and climate opportunities. Multi-Stakeholder groups, like the ICVCM and VCMI, are working to raise integrity standards.” This endorsement marks a significant leap forward in ensuring that VCMs deliver real, verifiable climate impact. Why this matters: ✅ Confidence in carbon credits: It reinforces the importance of carbon credits funding genuine emissions reductions and removals. ✅ Unlocking private finance: VCMs can attract critical private investment for otherwise non-viable projects, accelerating climate action. ✅ Supporting the United Nations SDGs: High-integrity carbon markets are a powerful tool to help tackle the climate crisis and achieve the UN Sustainable Development Goals. Full announcement available here: https://lnkd.in/eKAqPzgj #ClimateAction #SustainableFinance #CarbonCredits #UNSDGs #HighIntegrityVCM

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"As REDD+ moves towards a ‘jurisdictional approach’ with credits aligning to national forest carbon programs, how can buyers be confident of that same connection between a carbon credit purchase and local impact on the ground?" Joshua McCarron of Everland explains how the success of jurisdictional REDD+ will be built upon an accumulation of successful REDD+ projects: https://lnkd.in/eQBnribA

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🌍✨ Dynamic Carbon Credits: Aligning with Federal Guidelines for Carbon Market Integrity ✨🌍 We are excited to share that Dynamic Carbon Credits meets all the criteria outlined by Treasury Secretary Janet Yellen in her recent address about the carbon offset market. Yellen emphasized the importance of transparency, high standards, and genuine environmental impact in carbon credits. At Dynamic Carbon Credits, we pride ourselves on ensuring our projects deliver real, measurable, and lasting benefits for the environment. Our commitment to these principles reflects the rigorous standards and integrity that Yellen advocates for, driving true climate progress. Join us in supporting a sustainable and trustworthy carbon market. Together, we can pioneer a future of sustainable progress. 🌱💚 #CarbonCredits #Sustainability #ClimateAction #GreenEconomy #DynamicCarbonCredits #EnvironmentalIntegrity 🔗 https://lnkd.in/ghECW8r5

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The Integrity Council for the Voluntary Carbon Market (ICVCM) Issues First High-Integrity CCP-Labeled Carbon Credits for Climate Action Financing Kelly Fitzwater Bill Winters #ClimateAction #Climate #CarbonMarkets #CarbonCredits #CO2 #Impact #Business

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We at TASC welcome the U.S. Department of the Treasury's intervention on integrity in voluntary carbon markets (VCM). We believe that integrity already exists in the VCM, but of course more can be done to establish the safeguards that ensure it. We very much support the 3 key integrity principles: supply integrity, demand integrity and market integrity. All too often the focus is purely on supply, but without demand and market integrity, none of this can work. As Janet Yellen rightly states; "if we do it well, we have the chance to enlist markets as a powerful ally in the fight against climate change" Let's do it 🙌 https://lnkd.in/gMCyAZqq

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HAMERKOP was recently featured in Volume 2 of Clean Cooking Alliance (CCA)’s Digital Magazine “Vantage Point: Perspectives on Clean Cooking” 👇 According to the CCA… “Despite recent growth, there remains significant potential for carbon markets to deliver increased climate finance to the clean cooking sector… Less than 5% of carbon credits generated in the voluntary carbon market are from clean cooking, while fewer than 10 project developers dominate the flow of clean cooking credits.” 🚀 To address this, HAMERKOP has helped the CCA with their Venture Accelerator programme in West Africa. This means providing early stage businesses with the support, tools, and expertise they needed to develop carbon finance projects. 🇬🇭 Last year we traveled to Accra, Ghana to support the Venture Accelerator with our technical expertise at an inaugural capacity building boot camp ✅ It is a pleasure bringing our skills around the world to support the growth of impactful initiatives. You can read more about our work in Section 9: “Helping More Enterprises Join the Carbon Market.” 🔥 Clean cooking initiatives have huge potential to continue reducing carbon dioxide equivalent pollution each year, especially as over 2 billion people continue to cook on open fires on a daily basis. Improving cooking practices helps reduce climate change and forest degradation, while simultaneously boosting public health and improving gender equality. This work is so important and we are excited to be a part of this international initiative. Well done, CCA! Read the Digital Magazine here: https://lnkd.in/e9ZAvjuv 👉 Enjoy this kind of content? Follow our page and visit our website for more thought leadership related to the carbon market, climate finance, and sustainable development!

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At Environmental Finance's Natural Capital Investment Conference Americas, our Chief Science Officer, Dr. Matthew Potts, will join an expert panel who will discuss seizing opportunities in nature-related investment and nature-based solutions: https://lnkd.in/gxQGgEyV If you are attending, join the discussion to learn about: ☑️ The innovations taking place in nature-based solutions and how corporates are approaching the topic. ☑️ The potential impact of nature-based and #biodiversity investments, as well as the challenges, risks, and opportunities associated with them. ☑️ How established players in #timberland, #water, and #carbon are evolving with a focus on biodiversity. ☑️ The #climate-nature nexus and how nature can be understood within the context of transition finance. #ClimateFinance #NatureBased #ClimateLeaders #ClimateScience #ClimateAction

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In the latest from Where #Nature Meets #Climate, we dive into #policy considerations for how to expand private sector investment into Natural Climate Solutions #NCS in the #USA. Here are the top five challenges and potential approaches to address those challenges that I see today: 🔴 Science Based Targets initiative doesn’t allow/incentivize corporates to source carbon credits outside of their value chain (most of the beyond value chain mitigation opportunities are nature-based) to meet their climate commitments. ✅ Work with SBTi to include beyond value chain mitigation within their main corporate net-zero certification framework for residual emissions that are not possible to abate today. 🔴 SBTi’s definition of value chain and how the value chain boundaries are defined is too constrictive. ✅ Encourage SBTi (and existing and forthcoming compliance mechanisms) to expand their definition of the value chain to include all areas adjacent to a plot that impact the productivity of that plot. This is particularly important as the focus expands beyond natural climate solutions to nature-based solutions looking at forests contribution not only to climate mitigation, but other ecosystem provisioning services and biodiversity. 🔴 In certain compliance mechanisms, natural climate solutions are expressly included in the legislation/directive but in others it is more opaque as to whether NCS will be permitted.   ✅ Engage with state and federal agencies and legislators to ensure that any existing and future climate policy clearly allows and incentivizes the use of Natural Climate Solutions to achieve near-term climate mitigation (such as CA AB 1305) 🔴 The critique that natural climate solutions do not have sufficient durability to be used as an offset for emissions, compensation for residual emissions or contribution for carbon drawdown.   ✅ Encourage SBTi and regulatory disclosure reporting mechanisms to transition from a static to a dynamic accounting system tracking all historical emissions and credits purchased to offset/compensate for historical emissions. I've written about this previously - https://lnkd.in/eFTZhAnF 🔴 In the US, there is not currently any regulation requiring corporates to engage in reducing their impact on nature or take positive action. But progress is being made in voluntary space with the Taskforce for Nature-related Financial Disclosure (TNFD) and Science-based Targets for Nature (SBTN). ✅ Support both voluntary, and ideally regulatory policy, that requires corporates to have net positive impact on nature, such as the Net-positive Biodiversity Gain law recently passed in the UK, would result in new revenue streams for nature-based carbon projects and increase the financial viability of ecosystem conservation and restoration projects write large. 🔗 to full article: https://lnkd.in/ed6aWRKY

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Verra is excited to have a strong presence at the 60th sessions of the UN Climate Change (UNFCCC) Subsidiary Body for Implementation (SBI) and Subsidiary Body for Scientific and Technological Advice (SBSTA). On June 3 at 1:15 pm CEST (GMT+2), Andrew Howard, senior director, climate policy and strategy, will speak at the side event "Operationalizing Article 6: A Playbook for Governments and Crediting Programmes" along with fellow panelists Benedict Chia, director-general (climate change), National Climate Change Secretariat, Government of Singapore, and Kavya Bajaj, manager, government relations, at Gold Standard. They will share updates on the joint work between Singapore, Verra, and Gold Standard to develop a playbook that provides detailed guidance for how governments can work with crediting programmes under Article 6. Joining Andrew at the 60th sessions of the SBI and SBSTA will be Verra staff Santhosh T Prakasam, director, Verra Registry; Payal Ghosh, senior manager, energy and industry, VCS Program management; Viridiana Alcantara-Shivapatham, manager, agriculture innovation; Pedro Aparicio, auditing and accreditation manager, quality assurance; Christina Irven, manager, events and external initiatives; David Sturt manager, carbon market infrastructure; and Brilliant Dziko, program officer, VCS Program development. Learn more: https://bit.ly/4aKjm3F #UNFCCC #Article6 #CarbonCredits #CarbonMarkets #ClimateChange

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🌿 BIG News for Climate Action! 🌿   At The Green Branch, we are thrilled about the announcement of the U.S. Federal Government regarding new guidance on the role of high integrity voluntary carbon markets in scaled voluntary climate action. Yesterday, this HUGE statement was unveiled at an exclusive event.   Here are the key highlights of these principles:   1. Atmospheric integrity - Carbon credits must meet credible standards and represent real decarbonization. 2. Environmental and social responsibility - Activities should avoid harm and support co-benefits. 3. Corporate accountability - Buyers should prioritize measurable emissions reductions within their own value chains. 4. Transparency - Public disclosure of purchased and retired credits. 5. Accurate claims - Reflect true climate impact. 6. Market integrity - Participants should contribute to improving market integrity. 7. Efficiency - Facilitate market participation and reduce transaction costs.   Our favorite takeaway from today's announcement is the explicit call for more organizations to engage with the market. This is a BIG step forward for the VCM and for all of us dedicated to nature restoration and protection.    Announcements like these help us tremendously in our mission and show we are on the right track with our partners.   #ClimateAction #Sustainability #CarbonMarkets #TheGreenBranch #HighIntegrity #BidenAdministration 🌍🌱

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New Report: JREDD+ Pricing, Policy and #MarketInsights for #ForestNations This new report highlights exciting growth and challenges ahead in carbon markets, particularly in the emerging #JREDD+ market and how Forest Nations can benefit from it. Some of the key findings presented in EDF’s report are: 📈 VCM Growth: The #VoluntaryCarbonMarket (VCM) is poised to hit $10-50B by 2030. Despite recent headwinds like stagnant retirements and falling prices, a reversal trend is underway. 🌍 Policy Impact on JREDD+: Global carbon policies heavily influence forest nations' ability to supply JREDD+ credits. 2024 marks a pivotal year, with quality standards, regulatory clarity, and optimistic supply scenarios shaping the market. 💰 JREDD+ Pricing Dynamics: Pricing for JREDD+ remains uncertain due to market variability and liquidity challenges. Estimates suggest a market value of $7-11, with a $10 floor set by the LEAF Coalition. 📊 5-Year Price Forecast: Forecasts indicate prices climbing to $15 by 2028, with potential for significant shifts based on policy changes. Forest nations should weigh guaranteed revenues against these scenarios. 💡 Considerations Beyond Price: Forest nations must consider costs, Net Present Value maximization, risk profiles, financing options, and negotiation strategies beyond mere pricing to ensure sustainable and effective carbon credit programs. Join the conversation on the evolving carbon market landscape and how Forest Nations can reap their benefits! https://lnkd.in/eaEgVgKZ #CarbonMarkets #JREDD+ #StopDeforestation #LeafCoalition Emergent

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CDPQ’s Sustainable Land Management mandate is deploying capital in natural resources assets, mostly farmland and timberland. As we are prioritizing sustainable investments and decarbonization, we believe it is important for investors to have a solid and measurable framework that standardizes climate and nature reporting metrics.  The Clean Energy Finance Corporation, a strategic investment partner in natural capital for CDPQ in Australia, has introduced its report “Measuring What Matters: An Approach for Natural Capital Investors,” calling for unified climate reporting to reduce emissions. The report is a valuable guide on achieving measurable sustainability outcomes, and we are proud to have been associated with this initiative. Get insights into how institutional investors in natural capital can enhance the assessment of decarbonization activities: https://lnkd.in/gzfdMHrj

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Check out this recent IUCN report on the Regenerative Blue Economy if you are interested in what the future of the blue economy should look like. Below, I share my perspective as a member of the advisory committee of this initiative, on the main message and a couple features I found particularly striking. ✅The main message (as I read it): The report builds a historical perspective to explain why the 'blue economy', or even the 'sustainable blue economy', are not sufficient anymore. As the decline of ocean life has already been so dramatic that there is not much left to sustain or conserve, we need to raise our ambition and aim at a 'Regenerative Blue Economy'. One that actively addresses climate change an biodiversity loss. Alexandra Cousteau first convinced me of this in 2018 and it has guided my efforts in the space since. As a member of the advisory committee of this report, this was the main message I tried to pass on. 🧬The report (page 11, box 1) says the Regenerative Blue Economy is based on "scientifically grounded assessments". Indeed, I believe we will succeed in building a Regenerative Blue Economy only if we can embed science at the core of economic decisions. We need to overhaul our economic governance (shareholder meetings, boards, investment committees, etc...) to achieve this. This is why for example at SWEN Blue Ocean we created an Impact Committee composed of science and conservation experts to help us make the right investment decisions. We need to do this at scale, across the economy. 🌟Pages 30-31 of the report recognizes the potential of the impact framework of the Ocean Impact Navigator, developed by 1000 Ocean Startups, to apply to the economy as a whole, not just startups. I have always believed that, meaning the impact of the Navigator may expand beyond ocean startups at some point. Helping characterize what belongs to the Regenerative Blue Economy is a step in that direction. Congratulations to the lead authors, RAPHAELA LE GOUVELLO, Francois Simard, and the IUCN team. Thank you for giving me the opportunity to contribute. Adrien Vincent Minna Epps https://lnkd.in/eNKPxYZ4

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