Login Sign up for FREE

Why voluntary carbon markets for nature are needed right now

By illuminem briefings ๐ŸŒŽ

Aug 25 2023 ยท 1 min read

Illuminem Voices
Carbonย ยทย Carbon Marketย ยทย Environmental Sustainability

illuminem summarizes for you the essential news of the day. Read the full piece on World Economic Forum or enjoy below

๐Ÿ—ž๏ธ Driving the news: The voluntary carbon market has been recognized as a pivotal instrument for companies to address emissions, annually channeling billions in private finance

๐Ÿ”ญ The context: While the voluntary carbon market represents a significant financing mechanism, over the past three years, it has tapped into merely 1.2% of the potential of nature-based solutions (NbS)
• The misleading view of carbon credits as an 'either/or' choice limits their potential, implying companies must pick between them or direct decarbonization efforts

๐ŸŒŽ Why does it matter for the planet: Addressing the dual challenges of nature loss and climate change necessitates a multi-faceted approach
• The planet's urgent state requires companies to adopt a dual strategy, focusing on both internal emission reductions and NbS credit investments, rather than choosing one over the other

โญ๏ธ What's next: Companies are embracing a holistic approach, with those purchasing carbon credits achieving quicker emission cuts
• Meanwhile, organizations like the Integrity Council are bolstering the voluntary carbon market's transparency and consistency

๐Ÿ“ˆ One stat: In 2021, the global voluntary carbon market's value surpassed $1 billion, with predictions pointing to an annual worth of between $5-30 billion by 2030

Click for more news covering the latest on carbon

Did you enjoy this illuminem voice? Support us by sharing this article!

About the author

illuminem's editorial team - providing you with concise summaries of the most important sustainability news of the day.

Follow us on Linkedin, Twitterโ€‹ & Instagram

Other Illuminem Voices

illuminem briefings ๐ŸŒŽ
Sep 18 2023
What are carbon markets and why are they important?
What are carbon markets and why are they important?
illuminem briefings ๐ŸŒŽ
Sep 18 2023
Carbon Removalย ยทย Carbon
Climate Change: Atmospheric Carbon Dioxide
Climate Change: Atmospheric Carbon Dioxide