Blackmores ISO Consultancy Service: The creators of isology®

Businesses looking to tackle their environmental impact will need to look at how they can reduce their carbon emissions and offset any remaining emissions to ensure that they reach Net Zero.

One of the most common ways businesses offset their emissions is through the purchasing of carbon credits that typically go towards planting trees or re-wilding.

However, there are a number of new emerging trends following on from the current commodification of nature, resulting in an attitude shift from businesses who are looking to get a lot more involved in the offsetting process.

We invited Luke Baldwin, Co-founder and CEO of Nature Broking, back onto the show to explain the latest trends in the carbon market.  

You’ll learn

• What are the latest trends in the carbon market?
• The importance of high integrity within carbon offsetting
• Looking for impactful solutions
• Why education around carbon offsetting is key for long-term sustainability commitment
• How buying carbon credits now can lead to significant savings

Resources

• Nature Broking
• Isologyhub

In this episode, we talk about:

[00:30] Join the isologyhub – To get access to a suite of ISO related tools, training and templates. Simply head on over to isologyhub.com to either sign-up or book a demo.

[02:05] Episode summary: Today Mel is joined by guest Luke Baldwin, Co-founder and CEO of Nature Broking, to discuss emerging trends in the carbon market that help businesses tackle their carbon offsetting.  

[02:50] What are the key trends in the Carbon Market  – As of 2024, Luke states the leading trends as:

• High Integrity
• Impactful solutions
• Education
• Purchase carbon credits now and save later

[04:10] High Integrity – There’s now a lot of carbon credits available and due to the nature of the unregulated carbon markets, it’s led to an increase in bad actors generating revenue in a bad way.

Once example of this is Kariba, a project in Zimbabwe that aimed to tackle deforestation, which was recently exposed in the Guardian and The New Yorker for having incorrect calculations. Credits purchased towards that programme were then called into questions and any associated companies were accused of greenwashing.

To avoid this, businesses are now putting a greater focus on high integrity solutions, which involves considerations such as:

• Are the credits durable? Will the carbon be stored long term?
• Are their significant CO2 benefits?
• Are the credits contributing anything besides just removing carbon? i.e. regenerative agriculture or woodland plantation

[06:20] Impactful Solutions: The carbon markets offers a lot of fantastic solutions and businesses are moving away from the quick commodification of those solutions, and are instead looking to really understand the impact of how they chose to offset their emissions.

It’s becoming more of a question of buying carbon credits that align with your values, whether this be social values or sustainability values.

They’re looking to invest in projects that will have a tangible outcome. Which is exactly what Nature Broking sets out to assist businesses with by tailoring bespoke solutions that adhere to their specific values.

[08:10] Education  – The need for more education around the carbon markets is crucial.

Luke remembers the quote “you can’t love what you don’t know”, which applies as how can a business truly invest in something that they don’t fully understand.

Sustainability is a mindset, and a cultural shift towards more sustainable practices starts with an education.

Carbonology uses an ISO framework, but also provide an education around the carbon reduction plan provided to inspire a mindset shift change towards sustainability.

[09:05] Blackmores experience – Blackmores have been implementing environmental and energy Standards for over 18 years, but it’s only been in recent years that we’ve seen a mindset shift in leadership towards sustainability.

While people may be aware of Standards such as ISO 14001 or B Corp, but may not be aware of other governance frameworks that can help businesses to manage their carbon footprint and carbon neutrality.

[10:20] Join the isologyhub – Don’t miss out on a suite of over 200+ ISO tools, templates and training, sign-up to become a member of the isologyhub  

[12:25] How can you make significant savings when purchasing carbon credits? – A lot of carbon solutions currently are very cost effective, in particualr forestry credits and carbon removal credits.

Some of the more technological ones such as direct air capture or bioenergy and carbon capture and storage can be more expensive now because the technology utilised is still so innovative and in it’s infancy. However, that will change in time.

 If you’re looking at building a carbon portfolio for your net zero journey, for example, say are going through a science based targets initiative and you’ve decided that you cannot avoid the 10% of remaining emissions your net zero journey and you need to buy carbon removals – you’re much better purchasing carbon removals now than in the future.

This is because there will be a supply shortage in future, especially when we see more enforced regulations come into play between 2030 and 2035. This will mean that the price of those carbon credits will rise significantly.

What may cost £20-£30 per tonne for carbon removal now may go up to anywhere between £100 – £150 per tonne!

So it’s worth investing in your carbon portfolio now, especially in the case of tree planting as those tress are going to take a while to grow and actually start storing carbon.

If you finance projects now, you will have already made an amazing impact from the start, and will potentially save yourself a lot of trouble and money in future by planning ahead.   

If You’d like to learn more about Nature Broking and their solutions, check out their website.

If you’d like to book a demo for the isologyhub, simply contact us and we’d be happy to give you a tour.

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