1. Standardized & Efficient Carbon Market: There are tremendous needs for trading between entities that emit CO2 and those that verifiably and permanently remove atmospheric CO2. It would create incentives for reducing carbon emissions.
2. Difficulties: There are no widely accepted methods for carbon accounting available or feasible, which make those transactions mistrusted and unviable.
3. Core Problems: From Stanford Doerr Sustainability School, “Carbon accounting needs to be based on the science of removing carbon from the atmosphere and sequestering it on land and in oceans. This requires rigorous quantification, uncertainty estimation, and measuring changes over time.” We see this as a clear guideline for our efforts and would try our best to make impacts within our eco system.
4. Resources: Research at Taiwan and other international Universities provides such a scientific foundation. By the help of our members and associated institutions, we are working on bringing together the resources from different stakeholders and starting dialogues for trial cases asap.
5. Initiatives: Non-profits like SSBTI.org is ideally suited to leverage the resources, to convene various business, universities, governments, and nonprofit stakeholders, and to help develop relevant methods and risk metrics to create carbon accounting standards.
6. Roles and Function: University or Government entity would not be best positioned to oversee a novel carbon accounting framework. Instead, to scale this approach, non-profit like SSBTI.org could potentially launch an international nonprofit collaborative initiative to enable COST-EFFECTIVE and STANDARIZED international trade in carbon-focused transactions.
Edited and Drafted by Raymond Wang
Executive Chairman of SSBTI.org, based on resources and initiatives from Stanford Doerr Sustainability School, Cornell University 2022 Eclectic Convergence Meeting, and Sustainability office of National Taiwan University.
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