This article was originally published by Carbon Pulse and has been edited for length.
The real obstacle to overcome for scaling technology-based removals in the voluntary carbon market is the lack of a demand signal rather than the scarcity of supply.
Philip Moss, Director of Carbon Removal Markets at South Pole, suggested that the market was looking at the issue from the wrong angle.
In an interview with Carbon Pulse he said: “What we need to do is ask ourselves how do we create demand. Demand can be cultivated by ensuring fungibility in the event of shortfalls, and providing buyers with the confidence that if they purchase today it will count towards SBTi-aligned net zero targets."
He further explained that supply is a lagging indicator of demand and that right now, he has “six buyers that we know of that have purchased over 10,000 tonnes of technical carbon removals, and we are trying to support a multi-gigatonne supply challenge."
Read the full article on Carbon Pulse
