a voluntary carbon/eco- services market - strawman
TRANSCRIPT
A Voluntary Carbon/Eco-Services Market - Strawman
Thomas A. Campbell Amanda Halter April 27, 2016
“…evidently we’re leaking some oil and we are going to be here for a while.”
Captain Hazelwood
EXXON VALDEZ
Loss of 2,650 sea otters 100,000 to 300,000 birds were killed Common Murre colonies were reduced by half
How Do You Value Something that is Not Traded in any Marketplace?
Bayway Site, New Jersey
NOAA economists developed and applied Habit Equivalency Analysis (HEA) to Exxon-Bayway oil spill
Natural Resources and Services
% o
f Ser
vice
s
20
40
60
80
100
Years
Injury [Loss of 800 SAY]
Start Full Recovery
% o
f Ser
vice
s
20
40
60
80
100
Years
Injury [Loss of 800 SAY]
Start Full Recovery
Off-Site Restoration [Gain of 1,500 SAY]
A
B
Natural Resources and Services
Ecological Services
When Ecosystem Services are Impaired in a Particular Ecosystem Patch, it is Possible to Restore and Compensate for a Damaged Ecosystem Elsewhere so that the Aggregate Performance of the Ecological Landscape Remains is Improved.
A > B
Trading vs. Pricing Service Flows • Products and Services should reflect their true cost of production
• Companies should internalize the negative externalities associated with
production
• Ecological Services can’t be reliably monetized o Markets that price goods and services are too complex to mimic
o Models can’t reliably price non market ecological resources
• Rather than attempt to price the wild, we should expect the replacement or
restoration of impacted ecological services
• “No Net Loss of Wetlands” – No Net Lose of Ecosystem Services
• Lays the foundation for A Voluntary Ecosystem Market
• Without a credible certifying body this Market cannot function
Carbon Equivalency Analysis To
ns o
f Car
bon
20
40
60
80
100
Years
Carbon Deficit [Loss of 800 CTY]
Start Carbon Neutral Date
Off-Site Restoration [Gain of 1,500 CTY]
A
B
Carbon Tons
When Carbon Tons are Emitted in a Particular Operation, it
is Possible to Compensate Elsewhere by the Sequestration
a Greater Number of Carbon Tons so that the Aggregate
Performance of the Global Carbon Landscape is Improved.
A > B
Statute
Regulation
Guidance
Project Decision-making
Statute
Regulation
Guidance
Project Decision-making
A Voluntary Carbon/Eco-Services Market - Strawman
Thomas A. Campbell [email protected]
Amanda Halter [email protected]
April 27, 2016
Thomas A. Campbell • Previous General Counsel of the National Oceanic
and Atmospheric Administration
• Lead Exxon Valdez federal damage assessment; lead settlement negotiation and was signature on $1 billion NRDA settlement
• Pioneered the conceptualization of Eco-Services Flows and Habitat Equivalency Analysis and championed the early practical application of Restoration Science
• Headed Commerce Department Delegation to the 1992 “Earth Summit” in Rio de Janeiro
• Confidential Carbon Sequestration planning for Multi-National Corporation and Foreign Government