📣I am pleased to release the first chapter of my new report: Financing the Transitions the World Needs: Towards a New Paradigm for Carbon Markets. After months of reflection, research, writing and lots of editing, I’m ready to share the first installment of my six-chapter report with my colleagues in the voluntary carbon market. For anyone reading this and thinking, ‘David, what’s this all about?’ let me explain. I have worked in climate change for 30 years and am a great believer in the power of the carbon markets. As my career has taken different twists and turns, my thinking on these has naturally evolved. I was first drawn to carbon markets because I saw a tremendous opportunity to channel a new source of finance towards fighting climate change and, in many cases, promoting sustainable development. Over the years, though, a question planted itself in my brain. Occasionally I would think: “What if we could use the voluntary carbon market for an even greater purpose?” This question never went away. I returned to it, time and again, wondering if there was more we could do with this unique source of funding. This report is a product of that question. At its heart, I recommend we continue to support carbon markets and also use them as a tool for the much needed green transition. In other words, what if we designed and used carbon finance for a more compelling and enduring objective, beyond treating a tonne of carbon as the end in itself? With a little creativity and some hard work I believe we can adjust some of the key pillars of the voluntary carbon market so that it catalyzes the kinds of changes we need to properly fight climate change and secure a liveable, just future. For instance, we need to design carbon markets so they can:. ✅ Fund new technologies and practices; ✅ Bring down transition costs; ✅ Build necessary capacity; and ✅ De-risk future investments. The first chapter, ‘Designing for a Green Transition’, addresses the current limitations of the voluntary carbon market. How could it be redesigned to serve a transitional role? And how could this market adopt a transitional approach at scale? Read on to learn more. I will publish a new chapter every week. Check back at the same time on the 11th of June to read Chapter Two: Rethinking Additionality. Amy Bann, Ben Devine, Charlotte Streck, Donna Lee, Jen Stebbing, John Paul Moscarella, Luis Castillo, Alexia Kelly, Pedro Moura Costa, Renat Heuberger, Ricardo Bayon, Siddarth Shrikanth, Rich Gilmore
David Antonioli This report reads more like a marketing prospectus than a well-researched in-depth report on the viability of VCMs. Similar to many other VCM publications, it is very light of robust scientific references that would provide sufficient evidence of future environmental potential. It is one of few markets that does not require more “innovation” but more application of basic environmental principles and scientific regards robustness to prevent greenwashing. It comes down to simple ecologic and economic fundamentals, in that proper carbon removal projects need more time (no excessive short-term ROIs), money, and actual credible scientific expertise (not finance people claiming to be sustainability/nature experts), for which current VCM evidence has been worryingly scarce. Still waiting for VCM project that have scientifically robust independently verifiable impact.
Sheldon Zakreski
1mo
David Antonioli thanks for putting this work out. Already the historical context of carbon markets on what they initially were intended for and what they've currently become really resonates. I agree on the transformative part and what has and continues to motivate me is channeling finance towards working lands projects. Carbon really is a means to an ends with these projects where lands are managed in a way that produces net stores of carbon, enhanced biodiversity, and income generating opportunities. Can't wait to read on what you have to say about NCS.
It's VERY GOOD to know you're back in the game. You're (in addition to be a wonderful individual) a force for good for the climate and nature conservation and restoration space. I'll follow very closely TF and your current work! A big hug David David Antonioli !
Chief Patrick
1mo
👏 👏 👏 🍀 David Antonioli
Ricardo Bayon
1mo
Love this David. This is exactly the sort of thinking that we need to have in the carbon markets. Agree with you that we can and should do more with the carbon markets and carbon finance. Thanks for kicking off the conversation with this great think piece.
Rene Velasquez
1mo
Congratulations David Antonioli!
Amy Bann
1mo
Well done! Thanks for including me as a peer reviewer. I’ve enjoyed all our discussions thinking through system design updates. We’ve got to adjust mechanisms for current conditions and objectives. It’ll take sector-wide collaboration to get to a more practical, accessible market.
Chris Slater
1mo
Great first chapter David Antonioli and much needed thought starter for the future of the carbon markets
Accelerating the transition to net zero
1moThe report is on my website www.tranfin.com here: https://tranfin.com/wp-content/uploads/2024/06/New-Paradigm-for-Carbon-Markets_1-Green-transition.pdf