· 2 min read
illuminem summarizes for you the essential news of the day. Read the full piece on Forbes or enjoy below:
🗞️ Driving the news: The carbon credit market, essential for meeting global emissions targets, is showing signs of maturation with shifting buyer preferences towards specific types of credits, indicating a move towards increased liquidity and project acceleration
🔭 The context: Buyers distinguish between nature-based solutions (NBS) and traditional credits, showing a growing preference for afforestation, reforestation, revegetation (ARR), and carbon dioxide removal (CDR) technologies like direct air capture (DAC) and bioenergy with carbon capture and storage (BECCS)
🌍 Why it matters for the planet: These shifts in preference are critical for directing investments towards the most effective and verifiable carbon removal projects, supporting global decarbonization efforts and the push towards net-zero goals
⏭️ What's next: The market's evolution is expected to be driven by large tech companies and the development of more durable, technology-based carbon removal credits, despite challenges in certain NBS projects like REDD+ due to verification issues and exaggerated claims
💬 One quote: "NBS will be an integral part of net-zero goals and decarbonization of the planet," said Michael Ackerman, CEO of Ecoforests Canada, emphasizing the role of ARR projects and technology-based solutions in achieving these targets.
📈 One stat: No specific statistic provided, indicating a broad trend of shifting preferences within the carbon credit market rather than quantifiable data at this stage.
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