I’ve devoted my career to mitigating climate change, in various ways and in multiple sectors. And there are lots of opportunities out there right now for people like me who want to help fight climate change. Why have I landed here, in this moment, at Rubicon Carbon? Why have I decided that this initiative, out of all the other things I could be doing, is the best outlet for my effort today?
Here’s why: I believe market-based solutions are – hands down -- the most effective tools we have for making change. The market can generate speed and it can operate at scale, both of which will be required in order to create real impact now, when it really matters.
We all know that we’ve got to move fast. Reaching Net Zero as a society by 2050 will require nothing less than a transformation of our entire fossil-based economy, and it’s obviously going to be complicated. Changes like this don’t happen overnight, so we have to get started now. And if we’re being practical, we’ll build on the tools we have and the systems we’re accustomed to, so that we can drive change quickly. The Voluntary Carbon Market (VCM) has been around for decades, and while of course it can be improved, thanks to our predecessors strong foundations are in place. I believe the VCM can be scaled flexibly to drive impact in virtually every sector of the global economy.
Because the transformation required is so enormous, and the level of investment required is so substantial -- at least $3.5 trillion annually from now through 2050 -- bold and ambitious steps are required. Governments and philanthropies won’t be able to mobilize that kind of capital alone – we’re going to need the private sector’s strong support as well. I’ve worked in academia, and I’ve worked in government, and while those sectors are replete with brilliant and dedicated experts doing good, important work, I believe that the place where the real impact is happening today around climate change is in the private sector. The entrepreneurial ecosystem manifested in the businesses that are setting aggressive targets, developing and scaling new technologies, and creating new approaches to solving problems are the folks with boots on the ground, working to change how we operate in order to change the world.
The ambition expressed by the TPG RISE Climate and the Rubicon Carbon teams to scale the VCM are impressive. I’m here precisely because I do recognize the enormity of the challenge ahead. I believe that mobilizing capital in flexible ways by assisting with decarbonization, emissions reduction, and carbon removal efforts – especially as we work toward improved quality and increased confidence as the VCM evolves -- is going to make a real difference. There’s No Turning Back and we really can’t wait. Systemic change requires businesses to step up, and bold and aggressive action takes time.
Until next time,
Jen Jenkins
