ESSIC scientist Noel Gurwick is a co-author of a new report, “Buffer Pools and Beyond”, that provides the first comprehensive review of contract-based mechanisms that strengthen the durability of nature-based carbon credits.
Natural climate solutions are an essential component of the world’s climate mitigation portfolio. One barrier to deploying nature-based solutions rapidly has been concern about the durability of nature-based carbon credits. Therefore, those who purchase nature-based carbon credits need high confidence in the durability promised for these credits.
“To constrain global temperature below catastrophic warming of 2°C, we must immediately reduce land-based emissions and enhance ecosystem carbon storage,” said Gurwick, “Natural climate solutions are ready to implement at scale and deliver critical services in addition to climate protection.”
Many carbon credit programs rely on buffer pools, or a reserve of carbon credits set aside to compensate for carbon losses caused by events such as wildfires or land conversion. However, as climate-driven disturbances become more frequent and severe, there are increasing concerns that these buffer pools will be insufficient. As climate change increases the frequency and severity of climate disturbances, forests face a greater risk of releasing stored carbon back into the atmosphere. Additionally, many organizations purchasing nature-based carbon credits want climate benefits that last beyond the credits’ contractual lifetimes. These trends are driving interest in new approaches that can either keep carbon stored for longer periods or provide additional safeguards if carbon is released after a project’s formal commitment period has ended.
In the report, Gurwick and his co-authors explore both new and explored practices, propose a common framework, and consistent terminology in which to understand them and to help policymakers, companies, and carbon market participants compare options. Rather than viewing carbon storage as simply “permanent” or “temporary,” the paper highlights durability as a spectrum, reflecting the realities of how carbon is stored over time. This perspective can help organizations make more flexible and effective long-term climate plans.
“We set out to solve a problem that keeps tripping up action in carbon markets: everyone talks about reversal risk and permanence, but these words have different meanings to different people and in different context,” wrote Gurwick, “When we started, I don’t think any of us expected to spend so much effort nailing down vocabulary, and sometimes I felt “Is this how we’re going to accelerate climate action – by clarifying terms?” But words matter. Shared understanding matters a lot. Without that, it’s been hard to manage and compensate for reversals, set standards, and build confidence in natural climate solutions. Our goal was to fix that with a clearer way to think about durability and a synthesis of tools in our collective climate change mitigation toolbelt.”
The report is now available publicly: Buffer Pools and Beyond.
