Carbon credits a ‘catalyst’ for climate action, not just a method to offset emissions: ecosecurities chief
Carbon financing, be it through nature or technology-based solutions, will be key to near and long-term decarbonisation in Asia. With the region’s emissions trading systems seeing some progress, regulation is still crucial to momentum and expansion.
For Asia to meet both near and long-term decarbonisation goals, nature-based solutions (NbS) and the carbon credits generated from low-carbon projects and technologies must be part of the picture.
With the region responsible for over half of all global carbon emissions yet home to some of the most significant natural resources on the planet, focusing on NbS could potentially provide 37 per cent of the emissions reductions needed until 2030 to achieve the targets of the Paris Agreement.
NbS refers to actions that protect, manage, and restore natural or modified ecosystems, benefitting society and biodiversity.
The method has ga( article continues at Eco-Business )