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In March, the United Nations took the first meaningful step to hold investors, businesses, cities and regions accountable for reducing greenhouse gas emissions, when UN Secretary-General António Guterres asked a group of experts to develop standards for "net zero" pledges to the group . The challenge now is how to count emissions coherently. Nations, societies and scientists each use different, disparate methods to measure greenhouse gas emissions. These numbers cannot be easily compared or combined. The current patchwork of greenhouse gas stocks is woefully inadequate. From governments to businesses, information about these emissions is inconsistent, incomplete and unreliable. In order to design effective carbon taxes, border tariffs and other zero-carbon policies or investments, the numbers must be reconciled at all levels, from product supply chains to the global scale. The sum of national emissions should match the increase in atmospheric carbon dioxide and carbon sequestration estimates. (Amy Luers)
To fix voluntary carbon markets, we need a new infrastructure that works for all countries
The fight against climate change is collective. However, as pressures mount on individual countries to meet their National Contributions (NDCs), the flawed infrastructure of carbon registries makes this goal difficult to achieve. Carbon markets have been an important element of efforts to reduce emissions, creating an economic impetus and a mechanism enabling nature conservation and a sustainable economic transition. While there is agreement on the desired outcomes of a functioning and highly integrated carbon market, there is less agreement on the path, standards and infrastructure to get us there. Even if the data and integrity of science-based removal credits can be ascertained, without a strong registry infrastructure, these carbon offsets are open to double counting. And with the proliferation of competing public and private registries vying for pole position, the potential for double counting is high because these registries are not interoperable, they simply do not "talk" to each other. (Bo Bai, Michael Sheren)
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