Of course, we can’t tell the future, but based on what has happened in 2023, this is what the team at
Carbon Positive Australia
and I are predicting for the carbon space in 2024
- Public-Private Partnerships: We predict a rise in collaborations between government bodies, private organisations, and non-profits. These partnerships will leverage each entity's strengths to achieve a more significant environmental impact. We see this as a good thing as we know that working together will mean we can have a more significant impact.
- Carbon Credit Market Expansion: As awareness and urgency around climate change grow, the carbon credit market will continue to expand substantially. We predict that the carbon offset market will grow in 2024. However, we also predict that organisations will be placing more robust and focused reduction strategies alongside any offsetting they do.
- Enhanced Regulatory Scrutiny and Reporting Standards: In 2024, we expect to see stricter regulatory scrutiny on greenwashing and the implementation of more robust climate reporting standards in Australia. Following ASIC's recent interventions against misleading environmental claims, businesses will need to adhere to higher transparency and accuracy in their environmental reporting, particularly in terms of climate-related financial information. This could lead to an industry-wide shift towards more authentic and accountable environmental practices.
- Community Engagement and Education: A greater focus will be on community involvement and education in the environmental sector. This might include programs that educate the public on the importance of trees for the ecosystem or community planting initiatives that foster a deeper connection between people and their local environments.
- Growth of Biodiversity Markets: In 2024 we expect Australia to implement a version of a national biodiversity market. This could mean that quality tree planting and conservation efforts experience significant growth. driven by an increasing focus on ecological conservation. This trend aligns with the broader shift towards valuing natural capital and could influence how projects are designed, prioritising ecological diversity alongside carbon sequestration.
- Innovations in Tree Planting Techniques: Expect new, innovative planting techniques to emerge, potentially making the process faster, more cost-effective, and ecologically beneficial. These might include developments in seedling cultivation, soil enhancement methods, or planting strategies that mimic natural forest regeneration processes.
If you want to find out more about high-quality restoration and carbon projects in Australia, then visit the Carbon Positive website.
