Carbon markets have long-struggled to find acceptance as a method of decarbonisation, but they have seen renewed interest as companies have escalated the drive towards Net Zero, particularly in hard-to-abate markets like the petrochemical sector. However, there are still outstanding questions around how carbon markets can play a role in decarbonisation, as well as concerns that they allow buyers to potentially prolong emissions-heavy activities in favour of less-impactful offsetting. Further, given the centrality of nature-based solutions in the Voluntary markets in particular, are they truly a vehicle for good in underserved, developing communities, or could the demand for offsets spark a new crisis in these regions at the expense of local communities?

• The Petrochemical Industry is widely considered a “hard to abate” sector. Can carbon markets be the answer?
• Why does purchasing “local” matter when offsetting carbon offsets? How do avoidance credits differ from removals?
• What role can carbon markets play in the management of Scope 1 and Scope 2 emissions in the Petrochemical industry? What about the oil & gas industry?
• How can buyers reckon with outstanding concerns around carbon leakage, credit integrity and project permanence?