Stacey Kauk predicts carbon removal takes 30 years to become a commodity
Stacey Kauk · The challenges of building a carbon removal portfolio · Feb 29, 2024 · at 28:20
Stacey Kauk, Head of Sustainability at Shopify, discusses the long-term necessity and timeline for carbon removal credits to become standardized commodity assets.
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“In order to function properly, we need to end up in a place where a ton is a ton is a ton, and there's two reasons for that. One, it, Provides that level playing field on the side of the suppliers, but it also provides a level requirement across companies or whoever, it could be governments at that point, who are retiring these credits. You know, they have to be equivalent, tradable, interchangeable, resellable, and functioning. Otherwise, we haven't done our job, and this is going to take 2030 years, but we haven't done our job well today, because that's where we need this to be in order for it to work properly.”
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Stacey Kauk predicts carbon removal will become a government-funded public mandate
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“That's what we're seeing play out is, you know, it is about three years before you can get those deliveries, because when we're making those purchase decisions, often we don't have full visibility, and neither does the company.”
Shopify relies on internal standards rather than existing registry protocols
“So when we started, we began, it was, we didn't trust a credit that came out against an established protocol on a existing registry.
We reviewed everything and went through it and set ourselves a new internal standard for what we would buy.
so no, we do that …”