News

Carbon marketplace poised to expand

An expert on carbon markets says the popularity of carbon credits could significantly increase soon.

Cornelius Streit, Global Head of Carbon Operations with Bayer, says more producers are interested in entering a contract. 

“More and more farmers are seeing that the carbon markets are moving in the right direction,” he said. “I think some of the farmers also have still in mind what happened with Chicago Climate Exchange, that the voluntary carbon market didn’t succeed early on, but times have completely changed.”

He says there are incentives for signing up quickly.

“It doesn’t mean if you sign up today that the current payment structure will be there for the next 10 years,” Streit said. “If carbon prices increases by five times, your payment will go up significantly.”

Streit says he believes carbon markets are here to stay.