Lot21’s Post

⭐ Big news for carbon removal! Carbon removal has a new international standard ahead of COP29. The Article 6.4 Supervisory Body, part of the United Nations Framework Convention on Climate Change, finalized requirements for activities involving carbon removal under the Article 6.4 Mechanism. ✒ The carbon removal definition used in the international standard aligns with the UN’s Intergovernmental Panel on Climate Change (IPCC) definition that the Carbon Business Council called for. ✉ The Carbon Business Council organized a letter signed by more than 100 carbon removal leaders from around the world to the Article 6.4 Supervisory Body’s expanding on why carbon removal is an essential component for a just energy transition and to limit warming to 1.5 °C, along with the variety of co-benefits from carbon removal pathways. The letter requested for the Article 6.4 Supervisory Body to adopt the UN’s IPCC definition of carbon removal to create a level playing field for removals and spur innovation. 🔖 The A6.4-SBM014-A06 standard lays the groundwork for tech-neutral policy for carbon removal, and includes removals storage in “geological, terrestrial, or ocean reservoirs, or in products.” The implementation of the standard will be an ongoing process, including what methodologies are eligible. 🌎 Article 6.4 of the Paris Agreement shapes how global carbon markets operate. Resources: 📄Carbon Business Council resources on the new standard: https://lnkd.in/df5k3EBu  📄A6.4-SBM014-A06, Requirements for activities involving removals under the Article 6.4 mechanism (V01.0) , the new international carbon removal standard:  https://lnkd.in/dMWB7pjH  📄Carbon Business Council’s 2023 letter about why carbon removal is such an integral element of Article 6 and the Paris Agreement: https://lnkd.in/efPjiaJt  📄Background About Article 6: https://lnkd.in/exMBHt9v  📄Carbon Business Council’s Issue Brief on Defining Carbon Removal: https://lnkd.in/dgWdFfrQ 📄Carbon Business Council’s Issue Brief on Monitoring, Reporting, and Verification: https://lnkd.in/dW--BDNH

✨🌞💫 Carbon Removals are now strongly enshrined within #UNFCCC & Article 6.4! This is exactly the massive cause for celebrations to bring about much needed Hope towards the realization of a technology-agnostic levelling of the playing field in the carbon markets, and just in time for COP29 Azerbaijan! 🌻📡 Other ecosystems such as those at nexus of International Development and Sustainability, can certainly learn much from this approach to aligning sectors, which rather than stifling #Innovation; instead spurs and nurtures #Innovation, through embracing continuous improvement, encouraging excellence, and rewarding technology-agnostic progress. ☘️🚀 Mandulis Energy Verst Carbon Puro.earth Seagrass Palladium: Make It Possible Global Green Growth Institute Carbon Business Council The Integrity Council for the Voluntary Carbon Market (ICVCM) This certainly opens up an exciting conversation around the role of removals in climate resilience & climate change mitigation, especially in nature-anchored emerging economies. 🌳🛰 Next up will be bringing to the mainstream: Digital MRV incorporating IoT & AI. 🌴🛸 Mr. Alfred Okot Okidi David Gonahasa Cecilia Alonyo Melissa Kirabo David Bikhado OFUNGI Nyangena Brian Charles Waweru Patrícia Silva Adolfo Cires Caitlin Sparks Meghan Edge Gabriella Oken Wilbur Carolina Fernandes Fanny Modin Rachel Lee Olivier Van Pee Gulmina A. Malikzade

Update to Oxford Offsetting Principles. Good reminder of the bigger picture: 1. reduce emissions. 2. offset with high quality credits. 3. contribute to climate action beyond net zero. And always remember how much nature does to maintain climate stability -- beyond what we count as offsets.

The updated Oxford Offsetting Principles are now available. This resource is an important guide for companies and governments with net zero commitments. So what changed compared to the initial 2020 release? Oxford noted the most important updates were: 1. Reinforcing the urgency of emission reductions; 2. Re-emphasizing the need to close the carbon removal gap; 3. Highlighting the importance of Nature-based solutions (NbS) for addressing the drivers and impacts of climate change; 4. Clarifying the durability risks and co-benefits of different types of carbon removal and storage; 5. Recognizing consensus on, and defining new international guidance on the nature of net zero and nature commitments; 6. Recognizing the value of mitigation efforts outside of organizational net-zero targets. Learn more about the updates, the role of the Oxford Offsetting Principles in the wide array of carbon market guidelines and how Calyx Global ratings align to these principles: https://bit.ly/4bSRUCw #carbonmarkets #ghg #offsetting #nature

These principles help many companies navigate their net zero strategy - I'm excited to see an update. This market is moving quickly, we are learning fast and change is everywhere. Guidelines that shape the market need to keep pace. Well done University of Oxford. See Calyx Global's take and insights on the update below.

I like the University of Oxford Principles for carbon offsetting because it takes into account where we are TODAY vs. where we need to be in the FUTURE -- including: - A desperate need to reduce emissions now, so encourages buying credits that help to avoid emissions today... - That removals are also important, and there are nature-based removals that can also be purchased today... - ...but that durable removals will be critical for the future, so it's also good to invest into emerging technologies. It's that simple. I feel there is too much confusion on "removals vs. avoidance" and the Oxford Principles cuts through that in offering a useful way to think about what to do today... and how to transition to tomorrow. Calyx Global ratings confirm this approach -- the vast majority of our highest-rated credits are avoided emissions. There are also some reasonable nature-based removal credits. Durable CDR is expensive and we cannot expect companies to compensate residual emissions entirely with these credits today. Read our blog to explore these ideas further! And many thanks to the people who put together the Oxford Offsetting Principles. A really excellent piece of work.

In case you hadn't heard, IETA has released new guidelines that amplify the critical role carbon markets play in tackling climate change. These recommendations are a roadmap for companies looking to achieve ambitious net-zero targets through: ✅ Supporting the Paris Agreement ✅ Quantifying & disclosing all emissions (Scopes 1, 2 & 3) ✅ Setting clear decarbonization pathways with short-term targets ✅ Prioritizing emissions reduction & using carbon credits strategically ✅ Ensuring high-quality carbon credit usage ✅ Transparent reporting on carbon credits This alignment with Science Based Targets initiative focus on high-quality carbon credits further strengthens the message: responsible carbon credit usage is crucial for achieving true net-zero goals. Read more: https://lnkd.in/dGKhZQ5R #CarbonCredits #NetZero #Decarbonization #VCM #Emissions

Gaia Climate Market Alert: COP29 Advances Carbon Markets with Article 6.4 🌍 The adoption of Article 6.4 at COP29 marks a transformative step for global carbon markets, driving a convergence between compliance and voluntary markets. This development establishes a unified framework, enhancing the credibility and comparability of carbon credits, which is expected to attract broader investment and participation. Key Implications: 1. Market Integrity & Standardization:   🔍 Article 6.4 will improve the quality and consistency of carbon credits across markets, increasing transparency and building investor confidence. This standardization is crucial for ensuring that all carbon credits meet rigorous environmental and social criteria. 2. Opportunities for Nature-Based Solutions & Renewables:   🌳 This unified framework creates significant investment potential for nature-based solutions and renewable energy projects. Particularly in Africa and underdeveloped regions, sustainable projects can provide both climate impact and socioeconomic benefits, fostering local development and resilience. 3. Increased Investment & Innovation:   💡 A stronger, unified carbon market incentivizes climate financing, paving the way for new financial products and greater corporate and national climate commitments. This will spur innovation in climate solutions, driving progress towards global climate goals. Market Outlook: 🔄 Stakeholders should anticipate expanded participation, innovation in climate finance, and accelerated investment in impactful, sustainable projects globally. The integration of Article 6.4 into the global carbon market framework is expected to attract a diverse array of investors and project developers, enhancing the overall effectiveness and reach of climate action initiatives. We look forward to mobilizing more finance to our project portfolio and contributing to a more sustainable future. --- 🌟 Join us in celebrating this milestone for the carbon markets and stay tuned for more updates on our projects and initiatives. #GaiaClimate #COP29 #CarbonMarkets #Article6.4 #Sustainability #ClimateAction #RenewableEnergy #NatureBasedSolutions #Investment #Innovation #GlobalImpact #ClimateFinance

This month, I conducted an in-depth analysis of various guidelines concerning the incorporation of #carboncredits into companies' decarbonization strategies. After their announcement in early April, the Science Based Targets initiative became the latest guideline to join a general consensus stipulating the potential role of carbon credits in adressing unabated emissions after meeting interim decarbonization efforts and offsetting residual emissions through removals to achieve net-zero targets. Nevertheless, discrepancies exist among these guidelines regarding the use of carbon credits before fulfilling internal decarbonization efforts. Despite these variations, several key messages and recommendations emerge: 1. Urgent action is paramount. According to AlliedOffsets, over 80% of companies have not yet set climate targets, and those who have often fall short by 26% for Scope 1 and 2 and by 62% for Scope 3 emissions. Companies must not allow these minor discrepancy to hinder their engagement. Time is of the essence. 2. The use of high-quality carbon credits, "high-quality" defined by the Core Carbon Principles established by The Integrity Council for the Voluntary Carbon Market (ICVCM), or similar standards, is not nor will it ever be #greenwashing when used as a complement to internal decarbonization efforts. This misconception needs to be addressed immediately. 3. Ideally, companies will consistently meet their interim decarbonization goals, necessitating carbon credits only for beyond-interim targets compensation and achieving net-zero. However, if interim targets are not being met, alignment with the Paris Agreement should guide decision-making rather than discrepancies between guidelines. In such cases, following the guidelines established by IETA and the VCMI (for Scope 3 emissions only), which permit interim target fulfillment through carbon credits, is advisable. 4. Finally, it's crucial to bear in mind: NGOs, project developers, local communities, indigenous populations, and other climate champions are unconcerned about discrepancies in guidelines. What they require is ongoing private engagement to sustain their climate action efforts. Let's actively support and empower them. For those interested in a comprehensive understanding, the full analysis can be accessed via the following link: https://lnkd.in/dfWcJksi

Big news from SBTi: When properly supported by policies, standards, and procedures, environmental attribute certificates, including the voluntary carbon market, can be a tool for abating scope 3 emissions and tackling climate change. Neutral supports the development of high-quality, verified credits from the Climate Action Reserve. This has enabled us to bring a climate-positive product to consumers, invest directly in on-farm projects in our supply chain, and demonstrate absolute emissions reductions.    Companies purchasing credits are more likely to take bold action to reduce their emissions. We hope this move will serve as a catalyst to help unlock a pathway to meeting near-term climate targets and enable greater investment in climate action. https://lnkd.in/gG5SRKj6