Calyx Global Newsletter: October Edition
As October flies by, we are pleased to share news from across the carbon market, as well as insight from our expert team at Calyx Global. Catch up on the latest developments in our newsletter. As always, if you would prefer this newsletter delivered to your inbox, feel free to subscribe at the bottom of our blogs page
Introducing metered cooking device carbon credit ratings
As of October 2024, Calyx Global provides carbon credit ratings for metered cooking devices. These technology-based carbon projects enable more effective monitoring, reporting, and verification of a cookstove’s benefits in reducing fuel use, thus mitigating greenhouse gas and air contaminant emissions. In this piece, we introduce metered cooking devices with a focus on the Gold Standard’s Methodology for Metered & Measured Cooking Devices.
600 Calyx Ratings: What have we learned
Calyx Global has rated 600 projects and counting, so we’re continuing the tradition of sharing what we’ve learned so far. In this article, we examine how our philosophy on what types of projects to rate has evolved and share considerations for environmental and social risks that go beyond those caused by the project activity.?
What’s the difference between SBTi, VCMI, ICVCM and the Oxford Principles?
The voluntary carbon market (VCM) is made up of a complex ecosystem of guidance bodies, replete with acronyms and abbreviations, which can be confusing for carbon market actors looking to effectively use carbon credits to meet their net-zero goals. This article breaks down some of the most prominent standard setters on both the demand and supply sides of the VCM. We outline some of the challenges for all stakeholders and provide steps for how business leaders can use these guidance bodies to best meet their sustainability targets.
Calyx Global ratings vs. carbon project headlines
Over the last few years, carbon projects have seen their share of media headlines. The majority of these news articles have highlighted projects that failed to meet the promises they claimed. Frankly, these articles were not a surprise. When assessing carbon projects, we see some that make a real, meaningful impact, but we also review many that provide fodder for these articles.
Upcoming Webinar
November 6th, 11AM EST
Buying quality carbon credits in today’s carbon market can feel like an obstacle course full of hurdles and roadblocks, but despite challenges, many sustainability leaders have done this successfully. We gathered experienced carbon market participants from across industries to share their processes, advice and secrets to success. If you’re purchasing carbon credits in the next six months, this is a discussion you won’t want to miss.
Upcoming Events
VERGE 24 | 29-31 October 2024
Calyx Global co-founder Donna Lee will be speaking at VERGE in San Jose, CA.? If you’ll be attending and would like to meet, reach out.
Financial Times Commodities Asia Summit 2024 | 6-7 November 2024
Calyx Global co-founder Duncan van Bergen will be speaking at the Commodities Asia Summit in Singapore. If you’re in attendance and are interested in meeting with Duncan, send us a note.
Closing thoughts?
A sense of “up-up-sideways” struck me as I navigated NYC and London last month as part of the “annual carbon conference season.”
Up: CDR is all the rage. Expectations of (future) compliance demand, and greater acceptance of removal credits as part of corporate decarbonization plans help explain this enthusiasm. Somewhat more questionably, CDR has also become a heuristic for integrity in a market that is still recovering from trust issues. There are high-quality CDR credits… but, not all of them are “great by definition.” Today, more than 20% of Calyx Global ratings are for CDR credits, and, as is the case with emission reduction credits - quality varies from low to high risk.?
Up: WoUSA (World outside the USA) seems to be working diligently on compliance market designs that could make room for (some types of) carbon credits. As always, seeing is believing, but a combination of tentative Art. 6 enthusiasm and pilot trades, the nearing of CORSIA milestones, proofs-of-concept like the hybrid Singapore carbon tax system, and design work towards getting CDR into the EU and UK ETSs are generating new enthusiasm.
Sideways: With exception to the above, voluntary offsetting demand for carbon credits is still working its way through the down-cycle. Reparative building blocks like the ICVCM’s CCPs, improvements initiated by the crediting programs, and a more sophisticated ecosystem with better information for buyers are helping, but the perceived complexity of demand-side guidance and, in some cases, reduced corporate climate ambitions are keeping the brakes on.
Inspiration amid this uncertainty comes from individuals and organizations who choose to lead rather than wait – those who choose to fire on all cylinders and communicate their climate action transparently. At Calyx Global, we have the good fortune to be working with a number of these leaders across the globe, and it has been a joy to catch up with some during my travels. Thank you.
- Duncan van Bergen
Calyx Global Co-founder