Panel at COP29 Advocate for Integrity and Impact in the Voluntary Carbon Market

forum's NOW Partner Delegation for BAKU in full operation

NOW Partners team is back on site for forum on COP29 in BAKU, Azerbaijan. One of the big topics: soil and land use. A panel of land use and food system experts convened at COP29 to discuss the critical need for integrity and impact in the voluntary carbon market. Co-hosted by NOW Partners Foundation, Sekem Group, Natural Capitalism Solutions, Soil4Climate, and EIT Food, the session emphasized the role of high-quality carbon credits in financing climate action and achieving global climate goals.

NOW Parter delegation on site in Baku: Hunter Lovins, Helmy Abouleish and Walter Link © Merijn Dols

Addressing the "Finance COP"

With COP29 labeled the "Finance COP," the discussion centered on how to channel funds towards impactful climate solutions most effectively. Experts highlighted the crucial role of the voluntary carbon market in offsetting unavoidable emissions while ensuring environmental and social integrity.

Highlighting Innovative Approaches

The session showcased innovative models like EoL's Whole System Carbon Credits, which go beyond traditional carbon offsetting by considering the broader social, environmental, and economic impact of regenerative agriculture.

"EoL's high integrity credits go beyond traditional carbon credits by factoring in the social, environmental, and economic impact of regenerative farmers," said Helmy Abouleish of Sekem Group. "With EoL, you don’t just offset CO2 — you empower small-scale farmers in their transition, regenerate ecosystems, and build resilient communities."

Fair Compensation for Ecosystem Services

Panelists stressed the importance of fairly compensating farmers for their vital ecosystem services. "Whole System Carbon Credits offer a market-based model to fairly compensate Southern Hemisphere farmers for their crucial but unpaid ecosystem services," stated Walter Link of NOW Partners Foundation. "These farmers strengthen the climate, biodiversity, human health, and the sustainable development of local communities and economies. Let's make sure they get fairly compensated."

Scaling Solutions for Climate Action

Hunter Lovins of Natural Capitalism Solutions described the scalability of high-integrity carbon credits as a climate solution. She highlighted the importance of supporting farmers who provide essential ecosystem services, such as increased biodiversity, flood control, and nutrient-dense food. Richard Zaltzman, EIT Food, commented, "EIT Food recognizes the crucial role of innovation in driving the transition to a sustainable food system. High-integrity carbon credits, particularly those that support regenerative agriculture and empower farmers, are a key tool in achieving this goal."

Soil Health and Regenerative Grazing

Seth J. Itzkan, co-founder of Soil4Climate commented, "Carbon credits, done right, are an investment into the future of soil, and the best way to improve soil on most of the earth will be through regenerative grazing. Soil4Climate is proud to stand with the innovative ranchers who are making possible this transformation in food and finance.”

Note: Read more about the voluntaly carbon market, soil degradation and regenerative agriculture in the German edition of forum 25-01, published on November 28th.

Kontakt: NOW Partners, Aya Okawa | aya@now.partners | www.now.partners

Umwelt | Klima, 13.11.2024