Jodi Scarlett’s Post

Mainstreaming high-integrity carbon offsets is critical to restoring confidence in the voluntary carbon market (VCM) and is essential to developing an effective market-based mechanism for residual emissions. Recent controversies have highlighted the risks of litigation and undermined trust, leading to fluctuating carbon credit prices. The establishment of Core Carbon Principles by The Integrity Council for the Voluntary Carbon Market (ICVCM) seeks to address these issues by setting benchmarks for high-quality offsets. With these standards, companies can avoid the risks associated with low-quality credits, which have led to legal challenges like the class action lawsuit against Delta Air Lines. BloombergNEF's report suggests that with restored confidence and adherence to high-integrity standards, the VCM could reach a value of up to $1.1 trillion by 2050, compared to a stagnation at $30 billion without these measures. This potential growth underscores the market's role in achieving net-zero targets. It highlights the responsibility of all market participants to ensure the credibility and effectiveness of their carbon-offsetting efforts. The differentiation in pricing, as reported by BeZero Carbon, where high-quality projects can command a premium, illustrates the market's capacity to incentivize investments in projects with tangible environmental benefits. This shift towards quality is pivotal in ensuring that carbon offsetting contributes meaningfully to climate goals rather than serving as a loophole for continued emissions. In conclusion, integrating high-integrity carbon offsets is about achieving the VCM's potential as a tool for climate action. As market participants increasingly adhere to standards and transparent practices, they protect their investments and contribute to a scalable and effective solution to global carbon reduction. More on this soon! 🙃 Link: https://lnkd.in/ezKpeyZB #carboncredits #carbonsink #emissionsreduction #climatetech

Do you keep track of your company’s transport emissions? 🧐 If not, this is your sign to start. Accurate calculations and insights into emissions can benefit your company in the following ways: 1️⃣ Compliance with CSRD regulations: avoid fines and legal issues 2️⃣ Monitoring and reporting: simplify regulatory sustainability reporting 3️⃣ Cost management: identify high-emission areas for efficiency improvements 4️⃣ Customer and stakeholder expectations: demonstrating environmental responsibility improves your reputation and competitiveness Find out how to calculate your transport emissions automatically on our website! #transportemissions #accuratecalculations #everymileisabigmile

Encouraging news for the VCM, reading SBTi announcement yesterday that corporates will be allowed "the use of environmental attribute certificates (carbon credits) for abatement purposes on Scope 3 emissions (that) could function as an additional tool to tackle climate change." SBTi went on to say they "will not embark in validating carbon credits quality. Other entities are better positioned to deal with this activity." Whilst this could be the motivation the market needs to drive corporate action, the questions around quality and risk will undoubtedly remain. We've built the insurance solutions here at Oka, The Carbon Insurance Company™ to give corporates the tools they understand to mitigate these risks. We're here to support the market's growth and enable the investment this news hopefully catalyses. #carboninsurance #netzero

🌱 The Scope 3 standard of the Greenhouse Gas Protocol, currently the most utilized rulebook for corporate emissions disclosures, also requires that companies report the emissions incurred by their downstream customers—those who purchase and use their products. This requirement reflects the belief of some climate advocates that businesses should be accountable not only for emissions generated by their own actions but also for emissions prospectively generated by their customers, their customers’ customers, and so on down the value chain. Such disclosure should motivate companies to design and manufacture products that generate fewer emissions from consumer use and, just as important, help consumers reduce their own carbon footprints by making smarter purchase and use decisions. 🌍 #sustainability #esg

While many companies purchase carbon offsets to balance their emissions, doubts about the integrity and effectiveness of these offsets have shaken trust in the voluntary carbon market. Efforts are underway to establish robust carbon accounting standards to rebuild credibility and demand: https://lnkd.in/eBpWVyXh #sustainablebusiness #CSR

On this measure, there’s probably not a government or business which can sleep easy. Greenwashing will be eliminated and greywashing will be the next echo around the courts. Do what you can. Tell it like it is. Marcel Schutte Brent Carlisle Peter Mulherin #sgpaus #smallbusiness

💭 Scope 4 Emissions. Scope X Emissions. Advised Emissions. Financed Emissions. Advertised Emissions. Serviced Emissions...💭 Professional service providers (lawyers, consultants, financial advisers, advertisers etc) typically have small supply chains and Scopes 1-3 emissions (direct and indirect emissions). This is often disproportionate to their influence on key companies and the facilitative and multiplying impact of their services on the real economy. It is therefore critical that law firms and other Professional Service Providers (PSPs) capture in our #carbonaccounting the emissions associated with the provision of our services (legal advice) across projects and client work, particularly in high-emitting sectors, to give an honest picture of our contributions to climate change. ⁉ But calculating those emissions is harder than it sounds, and many brilliant minds have been focussed on this issue for months. ➡ Yesterday, I attended a roundtable consultation on "Serviced Emissions of Professional Service Providers" spearheaded by the UN #RacetoZero, The Law Society, Legal Charter 1.5, Oxford Net Zero, and Smith School of Enterprise and the Environment - University of Oxford. This group of experts has produced a Consultation Paper on Draft Guidance on this topic: https://lnkd.in/eCMHZC4W which is out for consultation until 1 May 2024 and is inviting input from all PSPs. Key takeaways from the discussion were: 💡 It will take time to develop a coherent, universally accepted methodology for calculating serviced emissions, but this should not deter immediate action. In the meantime, cruder methodologies could (and should) be used, that suit the circumstances of the sector and company. 💡 Like many things in the sustainability/ESG space, advised emissions are an opportunity as well as a potential risk. Law firms should engage with the business case for calculating advised emissions, including reputational benefits and winning forward-thinking clients. 💡 More resources, guidance and support are on the way. Watch this space. The paper is out for consultation until 1 May 2024. Please do input! Paddy LinighanOliver WrightMing Zee Tee Amanda CarpenterAlasdair CameronClyde & CoNigel BrookWynne LawrenceRobert Clarke #Scope4 #ScopeX #AdvisedEmissions #ServicedEmissions #FinancedEmissions

As new laws like California’s SB 219 and the EU’s Corporate Sustainability Reporting Directive reshape the regulatory landscape, businesses must adapt or risk penalties and reputational damage. In a recent article, we explore: - How global regulations are driving GHG emissions reporting - The role of accurate, transparent data in compliance - Practical steps to build a robust emissions reporting program Discover how Greenabl empowers companies to meet these challenges with real-time data and seamless reporting solutions. Learn more here: https://lnkd.in/gmt_6uwy #sustainability #emissions #decarbonization #supplychain #logistics #trade #shipping #esg

🌱In today's climate-conscious landscape, as the urgency of addressing global climate change intensifies, the meticulous oversight and management of scope 3 emissions emerge as a critical regulatory mandate. What can we do to help? 🚧THE HURDLES 🏭Scope 3 Emissions Insurers are grappling with the measuring and reducing Scope 3 emissions, a significant portion of which come from property claims. 🗑️Waste Management Construction and Demolition (C&D) waste, a major contributor to these emissions, is not universally managed or tracked in compliance with financial-grade carbon accounting. 🏘️Property Claims Complexity When it comes to property insurance claims, tracking C&D waste and other carbon diversion activities needs to be precise and job-specific. This level of granularity is essential for the future of green claims. 💡THE SOLUTION ECOCLAIM PROVIDES Utilizing a comprehensive strategy that integrates advanced data analytics, real-time emissions monitoring, and rigorous training initiatives, we provide insurers and other stakeholders with the necessary resources to effectively address these challenges. Through the establishment of long-term partnerships aimed at steering stakeholders towards sustainability, our efforts assist insurers in not only meeting regulatory obligations but also attaining their sustain #sustainability #carbonfootprint #esgtraining

#CarbonCredits - the integrity challenge Regulators are increasingly turning their attention to corporate #ClimateAction and particularly the use of carbon credits. Agreena’s Claudia Herrmann, Head of Regulatory & Standards Affairs and Frederik Aagaard, Chief Commercial Officer, review recent regulatory updates and assess their likely impact. The fast-developing landscape of rules, regulations and guidance make the need for transparency, due diligence and robust data indispensable for companies seeking to use carbon credits to deliver on their #ESG goals. At the very least, companies need to be confident that the credit they’ve purchased represents the removal of one tonne of #carbon dioxide from the atmosphere and durably sequestered – and they’ll need to demonstrate this to the satisfaction of regulators and the public. https://lnkd.in/daqeD3aW