Airplanes emit carbon dioxide. Nori can help remove it
Last November we were in New York City because we had won the Blockchain for Social Impact Hackathon in the energy and environment category. This is the first podcast where could be public about our name and were recording with professional equipment.
I met Sophia Mendelsohn at a Climate Week NYC event in September. During her remarks, she made a comment about customers demanding that the airlines do something more. I waited to give an elevator pitch about starting a blockchain marketplace for carbon removal and she was interested enough to give me a business card. When I told her about the show, she was kind to agree to come on as our first guest. Sophia’s job as Head of Sustainability of Jetblue was a perfect framing for the podcast and also a great signal to show us that our business model is on to something. She’s also the ideal target customer who would pay for carbon removal.
Individual action can take first step.
Today, airlines are not offering the option for flyers to pay additional to offset the carbon emitted from their flights. If this were easier to do, and individuals started doing this activity, airlines would catch on. Passengers don’t understand the connection between carbon emissions and their quality of life. If they did, they would be more likely to pay. Increasingly, as the impacts of climate change are felt, and more people clearly understand the link between excess greenhouse gases in the atmosphere and climate impact, they will be willing to pay. Right then and there, she validated a major leap of faith assumption.
People understand that climate change is upon us. If it were easier and more trustable to pay for your emissions they would do it.
Consumers have power.
We want to feel good about the company that we hand our cash over to. More and more, customers want to be sure that the brands represent their values. If they don’t, customers will go elsewhere. Brands that offer carbon removal services will have greater value to conscious consumers. Brands listen to consumers. If consumers want brands to pay for carbon removal, they will do it.
Putting a price on taking carbon dioxide out of the atmosphere is critical.
Regardless of how you we for greenhouse gas emissions and what price you pay, if we don’t pay for them, we don’t have an incentive to reduce them, and if we don’t reduce them our lives are going to get way worse, faster. The price on carbon — set by something that can pay to remove it — can motivate everything else to emit less.
Now is the time to work with industry.
Everyone has agreed that climate change is going to be very bad. Industry is going to work to solve it because they know that it will cost them more if they don’t. The longer we hold off on doing anything the longer it is going to take and the more money it will end up costing. Unlike in the past where activists have antagonized industry, now is the time where everyone can come together.
It is good business limit carbon exposure and liability.
This means that Jetblue will buy the best priced offsets which are able to prove their permanence, verifiability, and can be trusted. This does not mean paying for co-benefits — as have been created in the different From 2020 international flying is going to be carbon neutral. This is a big deal. And it’s a big market too.
We’re not going to stop flying.
It is inconceivable that the world would ever agree to stop flying. We relying on airplanes to transport food, goods, and people. The world economy relies on it. We do not want to shut down the world economy. Therefore this is a very black and white example of an emission which needs to be negated.
Ultimately our job is to make the activity of pulling carbon dioxide out of the atmosphere as easy as possible to pay for, measure, and do. While we have our work cut out for us and will not prove the model with the airline industry as our first buyers, we can certainly expect to be servicing this industry in the future!
The real question is… who will be the first airline to work with Nori?