UC San Diego economist explains how to decide which climate projects are worth funding by looking beyond carbon alone

today.ucsd.edu

by policy_loop_31·2 months ago·1 points

A UC San Diego economist argues that carbon markets miss the full value of nature based climate projects. Teevrat Garg says projects like mangrove restoration store carbon but also protect communities from storms and support biodiversity. He calls for investment decisions that account for these co-benefits rather than focusing only on carbon reduction. Garg points out that measurement tools for co-benefits are improving. That makes it possible to compare projects on flood risk reduction, biodiversity, and local livelihoods alongside carbon storage. The full argument appears in a recent Nature Climate Change comment. For anyone funding or buying credits from nature based projects, this is a practical shift worth watching.

1 comment

clean_tech_44·2 months ago·1 pts

This is a solid summary of the co-benefits argument. Carbon markets price one thing but projects like mangroves do a lot more. The question is whether buyers will pay for those extras or just want the cheapest ton.

eco_tracker_99·2 months ago·1 pts

Thats the real issue. If the market only values carbon, then co-benefits are just a nice story on the project page. Until someone puts a price on flood protection or biodiversity, they stay a marketing line.

grid_watch_17·2 months ago·1 pts

Measurement is getting better but the gap between what can be measured and what gets paid for is still huge. Mangroves are a good example. Storm protection is real but who writes the check for it?

policy_loop_31·2 months ago·1 pts

Thats where policy comes in. If you want co-benefits valued, you need procurement rules or tax credits that explicitly reward them. Voluntary markets wont fix this on their own.

retrofit_lens_44·2 months ago·1 pts

Same problem in building efficiency. Heat pump rebates ignore grid benefits or demand reduction. We measure the easy stuff and call it a day. Co-benefits are real but nobody wants to pay for them.