Wildlife Works ’s Post

View organization page for Wildlife Works , graphic

19,389 followers

The Gartner Hype Cycle - a visual representation of the adoption, maturity, and social use of new technologies - is a useful framework to understand the roller coaster ride the #VoluntaryCarbonMarket (VCM) has been on over the past few years. In 2022, the VCM reached 2 billion dollars in value as high-profile commitments by companies to achieve carbon neutrality through purchasing carbon credits fueled high expectations. Then as the market rapidly expanded, several challenges such as the quality and credibility of some carbon credits, the potential for greenwashing, and skeptical reports from misguided journalists plunged the market into a trough of disillusionment. Those who oppose market-based climate solutions on ideological grounds are now dominating the conversation. These vocal critics offer no clear alternative, except perhaps a complete overhaul of global society. It is within this context that the Biden Administration’s “New Principles for High-Integrity Voluntary Carbon Markets” take on extreme importance. This endorsement from one of the most powerful governments in the world, in tandem with strengthening regulatory frameworks, is a strong signal that we are exiting the Gartner Hype Cycle’s “trough of disillusionment” and headed towards the “slope of enlightenment.”  Would you agree? From a high-quality project developer’s view, the Biden Administration's VCM guidelines recognize the work of community-centered developers like us to strengthen the integrity of the market. Read more on our latest blog here: https://lnkd.in/gqw5kN_5

  • No alternative text description for this image
Marc Baker

Founder and CEO, Carbon Tanzania

4d

Tukopamoja

See more comments

To view or add a comment, sign in

Explore topics