The New Wave of Carbon Offsets: Is This Time Different?

This week, we’re talking about the new wave of carbon offsets. Will startups and corporates be able to solve accountability problems? Right up until the global economy stopped working in March, the carbon offset market was surging. In 2019, offset sellers saw a 5-fold increase in purchases, after years of low demand in the wake of the financial crisis. Flight-shamed consumers were demanding them. The world’s top companies were buying them in record numbers. But then came the coronavirus shock. The steep drop in fuel and electricity consumption has slowed consumer demand for carbon offsets in the short-term, but there are still underlying trends that may herald the return of carbon offsets. Is this time different? Can new players improve the quality and traceability of carbon reductions? The Interchange is brought to you by Prisma Energy Solutions. Prisma Energy Solutions provides a unique financing model for battery energy storage systems that can help you reduce energy demand, participate in both energy and ancillary service markets, improve renewables integration, increase system reliability, and reduce your carbon footprint.  We’re also brought to you by Wärtsilä Energy. Wärtsilä is leading the energy transition with “The Atlas of 100% Renewable Energy,” an open access tool based on the modeling of 145 countries and regions worldwide to illustrate the cost-optimal 100% renewable energy systems.