The Big Problem
The large scale emergence of Carbon Market Fraud
Carbon market corruption at an ‘institutional’ global scale, and a lack of using robust satellite-based carbon sequestration evidence, is the biggest threat to the credibility of carbon markets.
International carbon markets have crashed twice in the last two decades, due to an erosion of credibility. This threatens the newly developing ‘domestic carbon markets’ of BRICS countries such as India.
Carbon markets are at varying stages of development globally. Some countries have more advanced markets, regulatory systems, and the capacity to trade in carbon credits, while others do not.
India has over 100 Million small holder farmers, who need additional income for adopting ‘carbon market climate friendly’ natural farming practices.
A new study in ‘Nature Communications’ published during the first week of COP29, found that less than 16% of carbon credits issued, represent real emissions reductions, meaning the vast majority are hot air.
Many carbon projects be those forestry, clean cooking stoves, and especially large scale agriculture, don’t benefit communities and in fact, negatively impact their livelihoods.
If Carbon emitters, continue to be unable to robustly trust the quality of carbon credits they’re buying, and risk greenwashing
accusations for allegedly savings forests, or planting trees, then the carbon market, will never reach its TRUE potential.
Our Mission
The mission of IcesteinX is to leverage our proprietary high-resolution, all-weather small-satellite constellation, alongside imagery generated by smallholder farmers, to empower 1 million of India’s over 100 million smallholder farmers. By certifying them as digitally verified natural farming soil CO2 sequesters, IcesteinX aims to fully integrate these farmers into the global voluntary carbon market, creating new economic opportunities.
Our sole aim is to prioritize increasing the income of smallholder farmers while achieving a broad spectrum of social impact objectives, enhancing the lives of rural agricultural communities across India.
For too long, the focus of carbon sequestration efforts has been dictated by institutional, profit-driven motives, often framed as image-enhancement strategies to support the emissions reduction targets of the world’s largest corporations. Historically, global attention has centered on forests, which initially seemed the most logical avenue for quantifying carbon stocks within the context of a hydrocarbon-dependent global economy.
In 2023, however, the entities entrusted with safeguarding the validity of carbon credits faced serious scrutiny. Investigations exposed widespread financial malpractice and profit-driven motives that called into question the integrity of carbon credits as instruments for driving meaningful climate action. This revelation led to the withdrawal of many leading companies and brands from the global carbon credit markets, leaving them burdened with nearly worthless credits.
While there is an undeniable need for a stronger institutional framework to restore confidence in these markets, the solution cannot rely solely on centralized structures dominated by multilateral organizations, governments, and corporations—many of which bear significant responsibility for environmental degradation and climate impacts.
Many different approaches on how to tackle the issues facing small-holder-farming in India have been attempted. As of yet, no single organisation, or company, has been able to tackle all the issues combined, that affect carbon emittors wanting to finance 'social impact driven' nature-based-carbon-sequestration, and provide a holistic solution, that makes small-holder-farming more attractive’, creating healhtier soil, healthier food and a healthier 'planet' for all.
'IT'S TIME'
ICESTEINX FOUNDATION INDIA
#EONaturalCarbonFarming
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