As climate change causes increasing damage, the developed countries must cut GHG-pollution while allowing developing countries to grow their economies. Historically, this growth meant high emissions, but we need and have cleaner solutions now.
Private sector funding is crucial for this green growth, and carbon markets are an essential tool for financing these climate solutions. In this article, TIME highlights three essential key reasons for carbon markets:
➡Carbon markets can help fill the climate finance funding gap
➡Carbon markets can help us close the emissions gap faster.
➡Carbon markets help the most vulnerable places.
While challenges on quality and integrity are present, new market reforms are addressing this, for instance ensuring better benefit programs for Indigenous peoples and local communities.
The path forward requires rigid implementation at scale, more corporate action to reduce emissions, and continued support from the environmental and societal community. Carbon markets have the potential to drive billions of dollars towards climate solutions, biodiversity protection and equitable economic development. We are proud to be (a small) part of that solution.
Now is the time to act!