“We need all hands on deck in all areas, all sectors, and all approaches. So that means we need governments setting aggressive climate policy and regulation to control as far and fast as possible top-down, we need corporates and industry to do their part and do everything they can to decarbonize and squeeze out emissions…and then we also need market mechanisms like what Verra pioneers and helps manage that bring integrity and the ability for finance to flow to other activities that otherwise wouldn't be supported and are critical for us addressing the climate challenge.” -Toby Janson-Smith David Antonioli, CEO at Verra, & Toby Jason-Smith, Chief Program Development & Innovation Officer at Verra, join hosts Armando Davila & Oliver Miltenberger for a rich discussion about carbon markets and the importance of standards and transparency. David and Toby begin by introducing us to Verra, a nonprofit organization setting the world’s leading standards for climate action and sustainable development, and continue on to discuss the past, present, and future of the carbon market and its role in addressing the climate crisis. They masterfully address questions, critiques, and challenges alive in the carbon market sector today and discuss what is needed for the carbon market to successfully play its part in creating a sustainable future for all. IN THIS EPISODE: An overview of nonprofit organization Verra as well as David’s and Toby’s roles there The history of Verra and its evolution to what it is today A history of the carbon market and how and why standards have been developed The systems and processes needed to continue to scale the carbon market successfully Why offsetting carbon is not enough and what else must be done How the volunteer carbon market is positioned to put pressure on corporates to make internal carbon reductions Why direct action within our economy to reduce emissions is needed first and foremost to address the climate crisis How the carbon market is designed to offset residual emissions that cannot be reduced Carbon markets as a way to jumpstart finance for new climate technologies and activities How some countries are implementing carbon taxes to support the carbon market Why clarity is needed around what carbon credit claims corporates can make and what these claims mean How to address the current confusion in the carbon market today The Integrity Council for Voluntary Carbon Markets and other initiatives meant to ensure that carbon credit issuers are meeting standards Additionality explained Why renewable energy projects are no longer creditable under Verra’s standards Carbon removals vs avoidance reductions Baselines explained Creating a framework that values nature when projects don’t qualify for carbon credits Climate community and biodiversity standards that are being used in addition to the core carbon standards The challenges of estimating the actual success of project before it’s executed How to ensure indigenous communities are being supported by local projects The importance of learning and not letting perfect be the enemy of the good that’s happening RELEVANT LINKS: Earthshot Labs: www.earthshot.eco Verra: https://verra.org Kasigau Project: https://www.innovationforum.co.uk/articles/the-kasigau-corridor-redd-project Intro & Outro Music by Little Whale: https://littlewhale.bandcamp.com