Destin Whitehurst

When I first encountered 'financial additionality' as a concept applied to carbon removal credits it intuitively seemed to compound the "cold start problem" of building a new market. Why manufacture an unnecessary obstacle to liquidity before you've even started? My intuition was confirmed after the Nori supply and methodology team took me through the economics of American farming. I wanted to understand the obstacles and risks preventing farmers from adopting regenerative practices, and entering the voluntary carbon market (#VCM); only about 13.5 million acres of the 900 million acres of arable land in the US is regeneratively farmed. In this blog post Rick Berg and I make the case for why the academic concept of financial additionality doesn't make sense in practice if our end goal is to achieve systemic change to regenerative practices in agriculture, and to harness the potential of soil as a store of carbon by helping farmers generate revenue from the VCM.

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Climate Capital Guidebook: The Biden-Harris Administration is releasing a new Climate Capital Guidebook to provide a simple, comprehensive map of capital programs across the federal government that are available to climate-related start-ups, small- and medium-sized businesses, and their investors. While larger, institutionally-backed climate companies may have the resources to identify and access federal funding opportunities, smaller enterprises may face greater challenges in navigating these federal programs. https://lnkd.in/eJ3QV4Fw #climatechange #climatetech

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HAMERKOP was recently featured in Volume 2 of Clean Cooking Alliance (CCA)’s Digital Magazine “Vantage Point: Perspectives on Clean Cooking” 👇 According to the CCA… “Despite recent growth, there remains significant potential for carbon markets to deliver increased climate finance to the clean cooking sector… Less than 5% of carbon credits generated in the voluntary carbon market are from clean cooking, while fewer than 10 project developers dominate the flow of clean cooking credits.” 🚀 To address this, HAMERKOP has helped the CCA with their Venture Accelerator programme in West Africa. This means providing early stage businesses with the support, tools, and expertise they needed to develop carbon finance projects. 🇬🇭 Last year we traveled to Accra, Ghana to support the Venture Accelerator with our technical expertise at an inaugural capacity building boot camp ✅ It is a pleasure bringing our skills around the world to support the growth of impactful initiatives. You can read more about our work in Section 9: “Helping More Enterprises Join the Carbon Market.” 🔥 Clean cooking initiatives have huge potential to continue reducing carbon dioxide equivalent pollution each year, especially as over 2 billion people continue to cook on open fires on a daily basis. Improving cooking practices helps reduce climate change and forest degradation, while simultaneously boosting public health and improving gender equality. This work is so important and we are excited to be a part of this international initiative. Well done, CCA! Read the Digital Magazine here: https://lnkd.in/e9ZAvjuv 👉 Enjoy this kind of content? Follow our page and visit our website for more thought leadership related to the carbon market, climate finance, and sustainable development!

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🇺🇸 The U.S. Federal departments and offices have just released the "Voluntary Carbon Markets Joint Policy Statement and Principles”. We at International Carbon Registry celebrate more clarity on the direction of this important market and its role in the climate crisis. Notable developments include: • The emergence of multi-stakeholder initiatives that have set out standards and principles for high-integrity credit development and responsible credit use; • Improvements to key crediting methodologies, their guiding standards, and tracking systems; • New and improved analytical products and services that aim to strengthen credit transparency and quality comparability, such as carbon credit rating services; • Technologies to support robust measurement, monitoring, reporting, and verification (MMRV); • Multilateral rules, guidance, and procedures developed under Article 6 of the Paris Agreement and the international aviation sector's global carbon market-based measure, which shape certified emissions reductions and removals that often find their home in VCMs'; and • Advances in the development of market infrastructure to improve transparency and liquidity, as well as the integrity of market transactions.

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Two items came across my LinkedIn feed last month, and they're more related than not: 🌲 The Forisk Consulting list of the largest timberland owners and managers in North America, and 💹 Ecosystem Marketplace's State of the Voluntary Carbon Markets report. The fact that a company with limited #TimberHarvest activities is now one of the top ten largest timberland owners in the US, plus the fact that companies are looking to purchase carbon credits closer to home, all makes for an interesting future in #ForestCarbon and #Forestry. https://lnkd.in/eucPMa4Y

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U.S. Government supports high-quality voluntary carbon market :) This morning, Treasury Secretary Janet Yellen, Agriculture Secretary Tom Vilsack, and Energy Secretary Jennifer Granholm - released an endorsement of the voluntary carbon market. It came alongside a set of principles adopted from the VCMI (Voluntary Carbon Market Integrity Initiative). Principles for Responsible Participation”, namely: ➡ Focus on High-Quality Credits ➡ Permanence ➡ Robust Monitoring, Reporting, Verification, and Validation (MMRV) ➡ Co-Benefits ➡ Emissions Reduction Priority This positive endorsement of the VCM is a strong signal that the VCM is here to stay. It acknowledges past issues and provides a clear, government-backed, path for how we should adopt and build out the VCM to protect and regenerate global biodiversity. Press Release link: https://lnkd.in/eBtjtF9c

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Such a pleasure to talk with my friend Joanna Pineda on her podcast about what we're doing at Soil Upside! The pull-out quote about carbon compels me to say... There are so many other benefits to climate smart & regenerative ag: improved farm resilience to drought and flood, rural community development, food security, biodiversity protection, water source protection, watershed restoration and so much more! It's really easy to say all of that, but farmers & ranchers are the ones that are living and breathing the complexity of this, making stepwise progress (often with significant setbacks) and taking big risks changing the management practices of their operations. This is complex work and we're trying to help producers by demystifying the chaotic, complex and opaque funding landscape. Here's the episode: https://lnkd.in/ew5TGkgY

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🌍 Exciting news in climate action today! Verra's Voluntary Carbon Standard (#VCS) program has been approved by the Integrity Council of the Voluntary Carbon Market (#ICVCM) 🏆 This notable achievement underscores Verra's dedication to channeling finance into impactful climate action and sustainable development endeavors worldwide. 🔍 Statement from Verra: "From its inception almost 20 years ago, Verra has pioneered market solutions to drive finance into climate action. With the trust of project stakeholders and market investors, our mission remains centered on enabling investments in tangible and effective climate action. This is particularly crucial in developing nations, where dependable finance can facilitate the transition to low-emissions economic growth and unlock sustainable development opportunities. Verra remains committed to collaborating with the ICVCM to innovate and refine market standards, maximizing climate impact and advancing sustainable development goals." Let's applaud this significant milestone as we continue our collective efforts to combat climate change and foster a sustainable future 🌎 #ClimateAction #SustainableDevelopment #Verra #ICVCM https://lnkd.in/grzFH33t

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Yesterday morning the US Federal Government took a strong and pragmatic step to encourage companies to engage in the voluntary carbon markets.   The much-needed endorsement will hopefully be a warm-up to SBTI’s announcement in July, and it was a clear call to Corporates to do more and also a clear message that high integrity will be non-negotiable in this market.   I strongly encourage those interested in the area to listen to the full statement, and read the set of integrity principles issued by the Biden administration (https://lnkd.in/embxbGNy).   Secretary Janet Yellen 06:43 – “So let me be clear, we applaud companies that finance decarbonization through purchasing high quality carbon credits. We want this market to succeed, but that requires a widespread commitment to Integrity that instills market trust. There´s a lot more work to do, but if we do it well, we will have the chance to enlist markets as a powerful ally in the fight against climate change.” Samauma   https://lnkd.in/e48MSZhE

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Microsoft is basically financing the restoration of Brazil’s precious and ravaged biodiverse ecosystems - Amazon, Atlantic Rainforest and now the Cerrado 🤯 And helping Brazil become a key part of the climate equation through nature-based solutions, not to mention renewable energy, biofuels, bioeconomy…. I hope this transition is equitable, and really allow a systemic change in land-use! #carboncredits #bioeconomy #cerrado #regeneration

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Really promising to see the role being carved out for USDA to help the market coalesce around a common soil carbon measurement methodology and measure the impact of related conservation activities envisioned in the Rural Prosperity and Food Security bill. At Carbon Country we see great promise in the intersection of agrivoltaics, rotational grazing and application of biochar as a soil amendment for soil carbon and health. Routing for these important "miscellaneous" aspects of the proposed bill to make it in the final legislation and that our elected representatives can put partisanship aside and get the Farm Bill passed. https://lnkd.in/e9DPim6x #soilcarbon #regenerativeagriculture #carbonmarket

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Tuesday, May 28, 2024 3:08 PM My team at RMI has been working to increase trust and transparency in the voluntary carbon market (VCM) for a number of years — and today that work is reinforced by the federal government’s announcement committing to seven principles for a high-integrity VCM.    To unlock the full potential of carbon markets, we need clear rules. Today’s announcement unveils a set of principles that acknowledge the need for a responsibly managed VCM; one that ensures that the climate impacts promised by carbon projects make a tangible difference in curbing climate change.     While this announcement marks a major governance milestone, the work to create a trusted, scalable VCM is just beginning. Which is why I'm equally excited about the work that RMI and our partners are developing to ensure all data about carbon credit performance – namely, their verified emissions, community, and ecosystem impact and benefits – can be more accessible, digested, and used to guide decisions   We’re excited to share more about these projects in the coming months!   https://lnkd.in/gjw_2trP

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Hey folks: If you've listened to any of the 17 episodes of the Everyday Climate Champions podcast (https://lnkd.in/gcsd5iw7) and wondered "What is an easy way to support this?" - have I got an idea for you! You may have heard our brief (15-minute) interviews with Logan Evasco, Mira Hapsari, Anu Ramamurty, Marcia Pugsley, Shaandiin Cedar, Abbe Hoenscheid Clemons, Ravinder Sehgal, Sean Armstrong, Ambrose Carroll, Peri Plantenberg, Aditi Anand, Pete Kronowitt, Jennifer Silverstein, or many others. We're collecting brief notes of support from our listeners. Might you be able to write a few sentences about your experiences/takeaways from the podcast? A few things you might touch on: - Choice of local guests like me ("everyday people") - Choice of topics that interest me - Rotating team of different local hosts (adults and teens) - Episodes of only 15 minutes - Transcripts/blog posts are helpful - Show notes offer good resources - Production value (I enjoy the music, sound effects, and/or sound quality) - Frequency (currently about once a month) - Recommend it to others in my life Below are some examples of what we've gotten thus far: • "This podcast is one of the best examples of solutions-based locally focused climate content. It's rare to find such a great amalgam of best practices all in one program." • " I think this podcast will help me reorient my thinking…I tend to think climate action is done at the high policy level and I’m often frustrated. I think: 'what can I really do?'” • "I had an ‘aha’ moment! …That relatable, local story is what stood out." • "It gave me ideas and hope." Thanks *so much* for considering this! Just type in your comment below.

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Climate change solutions can seem big and overwhelming, so I break it down to what I can control. Gardening is a pleasure, an escape, and also an opportunity. 🌱💧 #climatechangesolutions #rainbarrels #watercatchment #nativeplants #biodiversity #rewilding #climatechange

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This is good news. Europe & the USA both moving forward on this issue. While many carbon credits aren’t worth the paper they are written on there are good quality credits out there that do represent a genuine removal of carbon from the atmosphere including carbon stored in wood products in the built environment as occurred with the timber framed Founder’s Building at the University of Washington. This groundbreaking example facilitated by #AureusEarth is covered in my new book: https://lnkd.in/ex6S9k93

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📢 Some big news this week that marks another pivotal step in the evolution of carbon markets… The Biden administration, led by Treasury Secretary Janet Yellen, will be unveiling the first broad US government guidelines on the use of carbon credits as part of decarbonization strategies. It’s a much needed step that will promote high-integrity carbon markets, and boost corporate confidence in using carbon credits. The Bloomberg article's sources suggest the upcoming framework will align with the government’s stance that: “voluntary carbon markets have a role in reaching net zero, as long as they promote high-integrity emissions reductions and channel meaningful amounts of capital into nature-based projects today as well as carbon-removal technologies in the future.” And that is the key. There is no silver bullet for the climate crisis. Whatever the critics may say about carbon credits, more transparency, clarity and official endorsement on their use will serve to unlock billions of much needed corporate dollars for carbon projects. Couple this news with recent initiatives by major tech companies like the Symbiosis Coalition of Google, Meta, Microsoft and Salesforce and we’re starting to stride in the right direction. Read more and sign up for the live stream: https://lnkd.in/ddDRA8yd #carbonmarkets #carboncredits #naturalcapital #climateaction #breakingnews

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🌎 California's second carbon market auction of the year has raised significant revenue at a critical time for climate funds! 💰🌿 The latest Western Climate Initiative auction results show continued demand for allowances and confidence in the program's stability. This auction is expected to generate approximately $1.1 Billion for the Greenhouse Gas Reduction Fund (GGRF), which funds initiatives aimed at reducing greenhouse gas emissions and building climate resilience. 🌱🚉 📈 Key Highlights: - All 51,589,488 current vintage allowances were purchased, marking the 15th consecutive sold-out auction. - The current auction settled at $37.02, significantly above the $24.04 price floor. - All 7,211,000 future vintage allowances offered were sold, settling at $38.35. 💼🌟 Over the past decade, investments from the GGRF have reduced California's emissions by 109.2 million metric tons—equivalent to removing 80% of the state's gas cars from the road! These funds have supported zero-emissions transport, affordable housing, and other critical projects. 🔥 As California faces another summer with heightened wildfire risks and evident climate change impacts, the importance of the GGRF is clearer than ever. Despite the slight dip in settlement prices, strong demand continues, reflecting the market's stability. 🌿🌍 Let's continue to invest in a sustainable future and support initiatives that make a real difference! https://lnkd.in/grvTCJ-y #ClimateAction #Sustainability #GreenFuture #CaliforniaClimate #CarbonMarket

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In this article, I articulate why significant investment in the processing and distribution infrastructure is needed to transition the US Midwest agricultural food system to a regenerative one. I use our systems analysis to explain why this is required, yet difficult to accomplish. I then bring two key hallmarks of systemic investing - combinatorial effects and nesting - to convey how the practice of systemic investing can be used to crowd in public and private capital, mitigate risk through synergistic effects, and ultimately drive the scale of impact needed. Systemic investing involves deeply understanding the system's current dynamics (systems analysis) so that we can learn the root problems of a challenge. It is also about designing a systemic portfolio of interventions to address the behaviours these root problems generate (funding architecture). This article serves as a brief and imperfect introduction on how to make this move from systems analysis to interventions. #systemicinvesting #regenerativeagriculture https://lnkd.in/dRXnwurH

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I did not expect to hear this endorsement. Good news for #bcr #carbon #carbonremovals #innovation is key for the carbon removal sector Standard Gas Technologies Ltd are working hard on a new methodology and being verified by Carbon Standards International AG

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