Seize the business opportunities in the budding US carbon market

Steve Brink, Vice President, Public Resources California Forestry Association

 

What do you and your organization do in the Carbon Markets sector?

California Forestry Association participates with the California Air Resources Board and Climate Action Registry in seeking administratively simple forest carbon protocols that most landowners would have incentive to participate in.  We have the same mission working with an Oregon workgroup on making recommendations to the Western Climate Initiative (WCI), specifically, WCI’s offsets subcommittee.

What do you consider to be the most interesting developments and biggest challenges in the North American carbon market at this time?

In the Voluntary Market, the most interesting emerging development is seeing the Canadians and U.S. forestry interests working together to develop common standards for forest carbon measurement.  At the same time the biggest short-term challenge is getting to one set of N.American protocols.

If regulated emission reductions become mandatory in the US, who stands to be most affected by this, and what would you recommend to anyone worried about impending legislation ?

The Electricity Sector.  Utilities can control their own destiny by investing in electricity generation from wood waste (biomass powerplants).  Using 1 bone dry ton of wood to generate electricity offsets a ton of greenhouse gas emissions compared to a coal or natural gas fired powerplant.

How do you see the North American Carbon Market looking in 5 years’ time?

Two robust trading platforms, Chicago and New York Mercantile, and a significant over-the-counter component as well.  I’m hopeful that there will be a common set of N.American protocols that all will use.

What do you see as key to building a truly global carbon market?

All industrial countries of the world participating with an international system of measurements to assure the carbon reported is real and verifiable.