–Too much time and the climate is broken; quicktime and climate might be saved
S&P Global Platts and comment by Mathew Carr (CarrZee)
Dec. 22-24, 2021 — Singapore-based carbon exchange Climate Impact X or CIX plans to conduct new auctions for carbon credits in early 2022, followed by the launch of standardized carbon contracts, CEO Mikkel Larsen said in an interview. (see link above)
The key quotes from the story is here, I reckon:
“For the next two years, there’s going to be a real shortage of quality supply. Full stop. Whatever way you look at it, technology or nature based, it’s a real squeeze because it takes time for these things to come to market and they’ve been bought up everywhere right now,” he said.
He said CIX plans to trade carbon credits globally, but it has been harder to market to Asian customers who lack familiarity with decarbonization strategies, while the narrative is a lot more advanced in the West.
“I think it’ll take time to grow the Asian market. That’s why we are global,” he said.
CarrZee comment: A key advantage that Asia has in the world is that it kicks off the day – it’s in the leading time zone. A further advantage is it has a bigger population vs the Europe and American time zones.
The biggest risk to the world’s climate is rising Asian greenhouse gas.
IF CIX or others can somehow create a credible voluntary carbon price in Asia, it will not only be hugely influential, but also hugely important in arresting global emissions.