Blog Post
Last edited: November 7, 2024
Published: November 7, 2024
Orbify Team
Earth Intelligence Specialists
In a recent episode of Earth Central, Konstantinos sat down with Vivian Bertseka, co-founder of BlueLayer, to explore the essential components of building trust and ensuring success in the carbon markets. With her extensive background as an investor and climate strategist, Vivian provided valuable insights into what sets high-quality carbon projects apart. Here are five key takeaways from their discussion, complete with direct quotes from Vivian that illuminate her expertise.
"When it comes to transparency and trust, we don’t necessarily need more data, we need better data," Vivian emphasized.
She pointed out that better data systems—those that are structured and standardized—are essential for building credibility in carbon projects. The absence of transparency in data communication makes it difficult for buyers and investors to assess the quality of a project, which erodes trust.
Trust in the carbon market hinges on the ability of project developers to provide clear, accessible, and high-quality data that stakeholders can easily interpret and verify. This means not only collecting comprehensive data but ensuring that it is well-organized, accurate, and presented in a standardized format. Developers should aim to integrate advanced data management systems that can seamlessly collect, analyze, and share project metrics. By doing so, they can enhance transparency and foster greater confidence among investors and buyers, ultimately leading to more robust market participation.
Project developers need to prioritize the collection, analysis, and presentation of data in a way that is clear and standardized. This ensures that stakeholders can easily understand and verify the information presented.
Discussing the role of local communities in project development, Vivian noted, “If you don’t integrate local communities, you have a much higher chance of things not going well… [but] if you get local communities on board, you have stability in the project.”
The active involvement of local communities is more than a box-ticking exercise—it’s a strategic necessity for long-term project success. By engaging with local stakeholders early in the project design phase, developers can ensure that community concerns are addressed, fostering a sense of shared ownership and responsibility. This can lead to more sustainable practices and reduced risk of disruptions or conflicts. Projects that include community input are more resilient and better positioned to deliver lasting benefits, not just for the environment but for the people living in and around project sites.
High-quality projects prioritize the involvement of local communities to ensure lasting impact and co-benefits, such as increased jobs and local economic growth. This approach strengthens community ties and helps build trust with stakeholders.
Vivian highlighted that “a lot of the quality gets determined in the design phase of the project.” This means that the choices made at the inception of a project—whether it’s choosing the right partners, employing best practices, or consulting experienced developers—will influence the overall success and integrity of the project.
The initial design phase is where developers can set the trajectory for the entire project. This is when crucial decisions are made about methodologies, partnerships, and resource allocation. For instance, selecting partners who have a track record of executing high-quality projects can provide valuable guidance and support. Employing best practices from the start helps minimize potential issues and ensures that the project is aligned with both current standards and long-term goals. Developers should also leverage insights from experienced stakeholders to anticipate challenges and set up systems that will facilitate transparent reporting and accountability throughout the project lifecycle.
Developers should focus on a robust project design phase to set a strong foundation. Early engagement with experts and stakeholders ensures that the project can meet high standards and attract better investment opportunities.
“To have better data, we also need standardization. And to have standardization, we need people to work together,” Vivian stressed. She pointed out that the future of carbon markets relies on different actors working collaboratively to create consistent standards and data-sharing protocols. This collective effort will help align the market, make it more transparent, and allow high-quality projects to stand out.
Standardization in data collection and reporting is a critical factor in ensuring that the carbon market functions effectively. However, achieving this requires collective action and coordination among developers, auditors, regulatory bodies, and other stakeholders. Collaborative initiatives can lead to the creation of common frameworks and best practices that make data comparable and reliable across the market. This in turn fosters greater trust among investors and buyers, who can more easily assess and differentiate projects. Developers should seek partnerships and participate in industry groups to stay informed and contribute to these collaborative efforts.
Stakeholders across the carbon market spectrum—from developers to auditors and buyers—must collaborate to create and adhere to standardized practices. This collaboration will pave the way for more reliable, high-quality projects that investors can trust.
Vivian noted a “shift towards high-quality nature-based carbon removals,” emphasizing the market’s preference for projects that showcase clear climate and biodiversity benefits. She pointed out that buyers are becoming more discerning, seeking projects with robust data, co-benefits, and community engagement.
The carbon market is increasingly favoring projects that not only deliver on carbon removal but also offer additional environmental and social benefits. Developers should focus on integrating nature-based solutions that address both climate change and biodiversity. Projects that feature detailed and transparent reporting on these co-benefits will be better positioned to meet the evolving expectations of the market. Buyers are more willing to pay a premium for projects that demonstrate a clear commitment to quality and broader environmental stewardship. Staying aligned with these market preferences can help developers secure long-term investments and foster a reputation for excellence.
Developers should align their projects with current trends by focusing on high-quality, transparent nature-based solutions. Emphasizing co-benefits and leveraging cutting-edge data systems will help projects attract forward-thinking investors who are willing to pay for quality.
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