{
"title": "Realizing the social value of impermanent carbon credits",
"authors": [
{
"given": "Andrew",
"family": "Balmford",
"affiliation_ids": [
1,
2
],
"email": "a.balmford@zoo.cam.ac.uk",
"orcid": null,
"corresponding": true
},
{
"given": "Srinivasan",
"family": "Keshav",
"affiliation_ids": [
2,
3
],
"email": null,
"orcid": null,
"corresponding": false
},
{
"given": "Frank",
"family": "Venmans",
"affiliation_ids": [
4
],
"email": null,
"orcid": null,
"corresponding": false
},
{
"given": "David",
"family": "Coomes",
"affiliation_ids": [
2,
5
],
"email": null,
"orcid": null,
"corresponding": false
},
{
"given": "Ben",
"family": "Groom",
"affiliation_ids": [
4,
6
],
"email": null,
"orcid": null,
"corresponding": false
},
{
"given": "Anil",
"family": "Madhavapeddy",
"affiliation_ids": [
2,
3
],
"email": null,
"orcid": null,
"corresponding": false
},
{
"given": "Tom",
"family": "Swinfield",
"affiliation_ids": [
1,
2
],
"email": null,
"orcid": null,
"corresponding": false
}
],
"affiliations": [
{
"id": 1,
"text": "Department of Zoology, University of Cambridge, Cambridge, UK."
},
{
"id": 2,
"text": "Conservation Research Institute, University of Cambridge, Cambridge, UK."
},
{
"id": 3,
"text": "Department of Computer Science and Technology, University of Cambridge, Cambridge, UK."
},
{
"id": 4,
"text": "Grantham Research Institute on Climate Change and the Environment, London School of Economics, London, UK."
},
{
"id": 5,
"text": "Department of Plant Sciences, University of Cambridge, Cambridge, UK."
},
{
"id": 6,
"text": "LEEP Institute, Department of Economics, University of Exeter Business School, Exeter, UK."
}
],
"journal": "Nature Climate Change",
"volume": null,
"issue": null,
"pages": null,
"doi": "10.1038/s41558-023-01815-0",
"published_date": "2023-10-30",
"received_date": "2023-04-03",
"accepted_date": "2023-08-22",
"abstract": "Efforts to avert dangerous climate change by conserving and restoring natural habitats are hampered by concerns over the credibility of methods used to quantify their long-term impacts. Here we develop a flexible framework for estimating the net social benefit of impermanent nature-based interventions that integrates three substantial advances: (1) conceptualizing the permanence of a project’s impact as its additionality over time; (2) risk-averse estimation of the social cost of future reversals of carbon gains; and (3) post-credit monitoring to correct errors in deliberately pessimistic release forecasts. Our framework generates incentives for safeguarding already credited carbon while enabling would-be investors to make like-for-like comparisons of diverse carbon projects. Preliminary analyses suggest nature-derived credits may be competitively priced even after adjusting for impermanence.",
"keywords": [],
"funding": [],
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]
}