Carbon markets play a crucial role in the complex network of climate solutions; they facilitate the exchange of carbon credit emissions permits and create incentives to reduce greenhouse gas emissions. These markets, whether regulated by governing bodies or projects aiming to reduce emissions, create dynamic environments where environmental responsibility and economic incentives intersect.
Change through forest carbon markets
Carbon farming – approach to sustainable land management – employs reforestation, afforestation, forest and peatland restoration, and agroforestry to capture carbon. This practice addresses climate change mitigation and generates carbon credits, known as carbon offsets.
These credits represent the CO2 captured and stored in the forest, with the added benefit of being exchangeable within carbon markets. Institutions, organisations, and individuals can buy these credits to offset carbon emissions.
The social benefit is that communities, farmers, and landowners become integral market players; they can earn income from sustainable land management practices that enhance carbon sequestration. This synergy between incentives and environmental stewardship encourages adopting sustainable practices.
Challenges and opportunities
As the market for carbon credits increases, some challenges need to be addressed. For example, avoid double counting emissions reductions and removals, and ensure that any reduction in emissions or increase in carbon sequestration occurs because of the sale of carbon credits.
These challenges require innovation and implementation of technologies to improve transparency and effectiveness across the value chain. Besides assisting in developing the carbon market, digital technologies also play a key role in inventory management, monitoring, reporting, and carbon monetisation.
Forestry Speed Dating
Bioregions’ Forestry Speed Dating (FSD) series, aiming to bring this relevant topic to the table, has the theme Unlocking forest carbon markets for its third series of the FSD – bringing innovators such as Skoog, Treemetrics, CarbonStack, CO2Offset, Ecobase, Arbonics, Kanop, Xilva, Föra, Zerti Carbon, CollectiveCrunch, Grupo Sylvestris, Land Life and other companies, start-ups and public initiatives to present their innovation and contribution to fight climate change.
The series provides a platform for individuals and organisations to share knowledge, collaborate and foster sustainable growth in the forestry industry and the bioeconomy.
Featured image by okawa – stock.adobe.com