Climate Week NYC 2024 - Three Key Takeaways

It’s Time to Turn Talk into Action.

Climate Week New York City 2024 was a wild adventure, and now that it’s wrapped up, one thing is clear: it was nothing short of inspiring. With over 100,000 people and 600+ events, the energy in the city was like a storm brewing—not just a conference, but a true wake-up call. This year’s motto, "It's Time," couldn’t have been more perfect. The message was clear: the time to act on climate change is now. No more waiting, no more endless discussions. Now, it’s about rolling up our sleeves and making real, impactful changes that will shape our future.

From intense debates to innovative solutions, CWNY was all about sparking new ideas on how we can move forward—faster, smarter, and together. But, as always, the journey is filled with hurdles. The good news? We’re seeing bright spots, especially in key areas like carbon markets, tech leadership, and how compliance and voluntary carbon markets could work hand-in-hand. Let’s break it down.

Key Takeaways from Climate Week NYC 2024

1. Carbon Markets: Not Just a Nice-to-Have—They’re Essential

Here’s the deal: carbon markets aren’t optional anymore. If we’re serious about getting to net zero, they must be part of the plan. The science is crystal clear—reducing emissions is important, but we also need carbon markets to cover the gaps. The exciting part? New initiatives like ICVCM (Integrity Council for the Voluntary Carbon Market) and VCMI (Voluntary Carbon Markets Integrity Initiative) are creating a clearer roadmap, so we finally know what “high-quality” carbon credits look like.

But this isn’t just a game for corporations— the message from communities in the Global South, including indigenous peoples and local governments, was clear: They are already doing the hard work of protecting forests, restoring ecosystems, and sequestering carbon. What do they need? Better access to the funding that flows through carbon markets. And it's time for the big players, like the Science Based Targets initiative (SBTi), to recognize this and make carbon markets work for everyone.

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2. Big Tech is All In—But Where’s the Rest?

Big tech has been stealing the spotlight with their bold moves on climate action. They’re all in on nature-based solutions (think restoring forests, capturing carbon, etc.), but where are the others? Yes, tech giants have deep pockets, but that’s no excuse for other industries to sit on the sidelines. Nature-based solutions aren’t optional; they’re critical if we’re going to hit zero emissions.

First movers like big tech are leading the charge, but it’s not enough to have a few trailblazers—we need a wave of fast followers to step up. Many companies were conspicuous by their absence at Climate Week, raising the big question: how do we get more industries in the game and make climate action the new normal?

3. Compliance and Voluntary Markets: The Power Duo We Need

Here’s something exciting—there’s a growing optimism about the potential for compliance and voluntary carbon markets to merge, particularly as Article 6 of the Paris Agreement is further refined. Think of it like two superheroes teaming up. When they join forces, the impact could be massive, funneling more money into nature-based solutions and creating high-quality carbon credits that work for both markets.

But hold your breath—experts aren’t banking on this happening overnight. While there’s hope for big strides at COP29 in Baku, it’s still a waiting game. The conversation is growing, but investors are cautious. Still, if we can get this right, the future of carbon markets could be a game-changer.

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Looking Ahead: The Road to COP29 and Beyond

Looking ahead to COP29, one thing is certain—talking isn’t enough anymore. "It's Time" to get serious about action, and the decisions we make now will shape the climate landscape for decades. The energy at NYCW 2024 was inspiring, but it’s only the beginning. Whether it’s carbon markets, nature-based solutions, or policy changes, it’s time to take bold steps that will drive real impact.

At goodcarbon, we’re excited about what’s next. There’s a growing sense of urgency, but also a clear path forward. The future is in our hands, and we have the tools to make it brighter, greener, and more sustainable for everyone. So let’s get to work!

Climate action isn’t just about saving the planet—it’s about creating a future we can all thrive in. The time for change is now.

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