Measuring what we leave behind
Beneath the surface of voluntary markets lies a complex stratigraphy of credit types, each with distinct formation conditions and verification depths. Like geological layers, older credit methodologies underpin newer innovations, creating a sedimentary record of environmental finance evolution.
The deepest layers -- forestry credits from early REDD+ projects -- form the bedrock upon which today's technology-based removal credits are built. Each layer tells a story of shifting methodologies, regulatory pressures, and the slow compression of loose commitments into verified, auditable instruments.
Understanding this stratigraphy is essential for any participant navigating the markets. The age, type, and verification depth of a credit determines its value, its permanence, and its true environmental impact. Surface-level trading obscures these distinctions; the geology reveals them.
The deepest stratum holds the most fundamental forces: biodiversity indices that measure the health of the living systems upon which all markets ultimately depend.
Biodiversity index by year -- ring width represents ecosystem health score. Wider rings indicate stronger biodiversity readings.
Every transaction leaves a trace