Apr 30 2024 25 mins 9
As more businesses focus on net-zero targets, voluntary carbon markets (VCMs) need to play an increasingly crucial role. The VCMs are a necessary and important tool for offsetting hard-to-decarbonize emissions, and there is a vital need to scale them; however, there are many challenges in their current state. In this episode of the Sustainability Matters podcast, Bruno Sarda and EY Sustainability Global Account Lead for Microsoft, Alissa Byersdorfer, examine the VCMs’ growth and how they needs to evolve with Brian Marrs — Senior Director for Energy and Carbon Removal at Microsoft.
Bruno sets the scene with a brief history of the VCMs and carbon as a commodity. He shares that VCMs are growing and are now a key component of many businesses’ decarbonization strategies but there are some significant challenges around credibility and quality. Alissa explains how the alliance between Microsoft and the global EY organization helps other businesses achieve their own decarbonization goals through sustainable strategies and data management solutions.
With a commitment to becoming carbon negative by 2030, Microsoft is a pioneer in this space. Brian discusses the challenges Microsoft has faced and how the VCMs need to evolve to focus more on quality carbon removal products. Brian covers why Microsoft’s strategy is solely focused on investing in carbon removal programs and how they have approached the challenges of the carbon market with their four north stars on quality.
Lastly, Brian shares some first-hand advice for companies exploring VCMs to achieve their net-zero goals.
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