Diego Saez Gil, Pachama & Sam Gill, Sylvera

Our guests today are, Diego Saez-Gil of Pachama and Sam Gill of Sylvera, and we're talking about forestry carbon offsets. Forestry carbon offsets were designed as a financial tool to provide an economic incentive for landowners to make alternative decisions, to pay landowners to keep their forests intact in the case of deforestation avoidance credits or to reforest previously damaged land in the case of reforestation credits. The money for this economic incentive comes from large actors who can then take "credit" for their action and apply it against the carbon footprint of their own organization. This is a carbon offset. In the simplest terms, if part of a company cannot decarbonize quickly, but still aims to achieve net-zero emissions, they can pay a forest landowner to preserve their forest and take an agreed upon amount of carbon off their balance sheet accordingly. And it’s a relatively new thing. Forestry carbon offsets have become a popular product over the last decade, and like any maturing industry, it has challenges. Diego and Sam are here to walk us through why forests matter, the history of offsets and how they work, some of the challenges highlighted recently, and what they think the path forward looks like. Regardless of what you think of carbon offsets, this is a crucial problem to solve. Without an economic incentive to maintain and regrow the world's forests, any thought of avoiding the worst effects of climate change is out the window.