When Elinor Ostrom laid down the eight design principles for successful governance of community based natural, it debunked the myth of Tragedy of Commons of Garrett Hardin.

Patches of forests are commonly owned “things” - hence, let's analyse this situation a little more, with respect to the quality of carbon credits. These design principles for managing common-pool resources (CPRs) can be applied to the social impact aspect of carbon credits, considering that these principles are designed to ensure that communities can sustainably manage shared resources, which are aligned with our offset projects.

Here is how -

1. Clearly Defined Boundaries - Clearly defining  who benefits from the carbon credits and how those benefits are distributed within the community.

2. Congruence between Appropriation and Provision Rules and Local Conditions - Ensuring that the rules for generating and distributing social benefits are tailored to the specific needs and conditions of the local community. This would include a thorough understanding of social weave.

3. Collective-Choice Arrangements-  Involving the community in the decision-making process related to the project. This could mean giving local stakeholders a say in how the carbon credits are managed, how benefits are shared, and how the project is run, much like how a dialogue is invited for a project and published.

4. Monitoring - Implementing mechanisms to monitor the social impact of the project. This could involve tracking how the benefits are being distributed and ensuring that the intended social outcomes are being achieved.

5. Graduated Sanctions- Developing a system of accountability where there are consequences for either not adhering to norms or for actions that negatively affect the community.

6. Conflict-Resolution Mechanism-Establishing accessible and low-cost ways to resolve disputes related to the project.

7. Minimal Recognition of Rights to Organise- Ensuring that the community's rights to self-organise and manage their involvement in the project are recognized and respected.

8. Nested Enterprises - For larger projects, ensure that the social impact management is integrated at multiple levels—local, regional, and even national—so that it aligns with broader social goals and policies. This could involve partnerships with local organisations or integrating the project into larger development frameworks.

And that is how this "uncommon scholar" and Nobel laureate's theories can be applied to carbon credits.