The voluntary carbon market (VCM) has a total value of over $2 billion, and some predictions show it growing to $10 billion in just a few years.
But the integrity of the carbon offsets available has come under increasing scrutiny in recent years, causing demand to slow and prices to go down.
According to a new report from Morgan Stanley the market is approaching a ‘tipping point’, as more and more companies hesitate to stake their environmental claims on offsets that may be debunked in the newspaper the next day.
If the market does hit a tipping point, what’s next? And what does it mean for the companies and governments hoping that “carbon removal” can fill the gap with a more reliable type of offset?
Our panel will take a look at implications of the oil company Oxy purchasing Carbon Engineering. Is big oil good for DAC?
Whether or not oil and gas should be involved in carbon removal is healthy debate within the CDR community, and this announcement made headlines in the broader environmental media too.
Listen to hear what our policy panel, Holly Buck and Wil Burns, think about this news and its aftermath.
On This Episode
Radhika Moolgavkar
Wil Burns
Holly Jean Buck
Resources
Size of VCMs
Article on “Tipping Point” report
West et al. Paper on Carbon Offsets
Liberia + Dubai Offset Deal
Oxy buys Carbon Engineering
NOAA Awards
Connect with Nori
Nori
Nori’s Twitter
Nori’s other podcast Reversing Climate Change
Nori’s CDR meme twitter account
