Thread by @paulgambill

We don’t deserve someone so thoughtful and considering in the SEC, but I’m grateful @HesterPeirce is there. More and more, I’ve been thinking that “carbon accounting” as it exists and is evolving, is a dead end for reversing climate change. There’s far too much ambiguity.

https://twitter.com/HesterPeirce/status/1529578264045527045

Q: How much carbon would be removed if all Fortune 500 companies offset their entire Scope 1, 2, and 3 footprint?

A: Not anywhere close to enough.

We have to think bigger than corporate carbon offsetting! There are 1.5 TRILLION tonnes up there that we need to remove from the atmosphere. The govt has a hammer (disclosure mandates), and so everything looks like a nail. But for us nimble #ReFi startups, we can be more creative

We need to gamify carbon removal. Build positive feedback loops so that as profits increase, more carbon gets removed. This is exactly what @Stepnofficial is doing with @nori

medium.com/nori-carbon-re…

I wish the carbon removal startups who are working on accounting solutions well, but we’re playing a different game. Helping corporates get more ESG friendly isn’t good enough. That barely scratches the surface. We need carbon removal (payments) integrated into *everything.*

That’s the only way we’ll ever get to a future where we’re removing 75-100 billion tonnes every year. This SEC disclosure mandate is nonsense and is going to make it even more difficult to reverse climate change. @HesterPeirce’s statement lays out all the problems with it.

If you want to work on something that actually has a chance at *scaling* climate change reversal, come check out the @nori careers page. We have a lot of roles open! nori.com/careers