What lessons have been learned that now set the stage for creating carbon markets in the right way, for a better world?
John Palmisano, Head of Climate & Risk at Changeblock, and our Better Worlds guest host Aldyen Donnelly of Nori talk technicalities and rules on global trades during this episode of our podcast. The discussion surrounds tracking trades correctly; using double entry bookkeeping to reduce two entities receiving the same credits, to follow and report credits properly ensured through the use of blockchain. John surmises that Web 3 exhibits the power of enhanced tech that allows the maximization profits and trades, while blockchain tools will help developers in nations with less sophisticated property right structures in place that will be able to show attributes of their transactions.
Hear more about how these tools will be used to counteract greenwashing and John’s thoughts on a one-size-fits-all regulatory program and the tools important for establishing efficient solutions for big social problems due to their worldwide track record and benefits seen since the Kyoto protocol. Why would we switch to another worldwide regular regime where it's more difficult and sysyphisian, John asks. “It takes billions of dollars and hundreds of millions of person hours to create a worldwide trading program. When it started back in 1976 there were a handful of people who understood the offset interpretive ruling. Now there are 100,000 working on aspects of greenhouse emissions trading. Changing that would be futile. Look at the human capital, systems, history, thousands of transactions, culture, MRV, This concept has traction and it will and should be extended to other environmental commodities because we need these markets to reflect the price we are paying for destroying our habitat.”