voluntary carbon market

“One billion. Out of that eight hundred fifty one billion, that's the entire size of the voluntary carbon market. The market outside what's regulated into existence, largely by the European Union.”

“Credits in the current market might represent anywhere from 10 years of carbon storage to, you know, maybe a couple of decades or at the very, very high end. In forests, but on soils, a hundred years. So you're talking about a really different time scale than …”

“But I would argue that the fundamental problems that plagued the market when I was a wee young analyst are basically unchanged today. We still have not yet figured out how to build enough trust in this market to see its scale.”

“So a couple of billion dollars last year of value in terms of the transacted value. So that's negligible really compared to the compliance markets, which are around eight, fifty billion. So nearly a trillion dollars.”

“Because the registries and the feedback loop with the registries is to just keep issuing credits and make each credit look the same as every other credit, everyone's incentivized the other way because the buyers don't want to go back and say, Wow, all this mon…”

“Buyers have been Implicitly comfortable with uncertainty for decades because we'd lied to them that the uncertainty didn't exist.”

“I don't think that in the long run, markets are asking for more standards. They're asking for better application of a number of standards.”

“In 1996, we had one carbon certification standard. In 2023, we have 37 of them.”

“I think the overwhelming likelihood is that we're in for a bit of a reckoning in that market. In that market, I mean, both the general voluntary carbon market, and more specifically, the CDR market. Not to say everything fails, but there's just the, there's an…”