Blackmores ISO Consultancy Service: The creators of isology®

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There has been a global shift towards the sustainability effort in recent years, highlighted by various regulations and schemes aimed at businesses to help encourage a more sustainable way of operating.

This has led to more focus on the voluntary use of carbon markets, in which companies help to fund decarbonisation projects by buying carbon credits.

In this episode Mel is joined by Tiffany Cheung, the Corporate Engagement Lead at carbon markets data company AlliedOffsets, as they discuss the landscape of the market, including current trends, decarbonisation challenges in different sectors, and top tips for navigating the space.

You’ll learn

• What impact will corporate disclosures have on the carbon markets?
• What are the rates of decarbonisation across different sectors?
• What are the emerging buyer trends within the voluntary carbon market?
• What is an internal carbon price?
• How can companies use a carbon price to ensure that their sustainability goals are financially viable?
• How can AlliedOffsets’ data help companies when entering the carbon market?
• What are the critical steps businesses should take to mitigate price volatility and ensure that they’re investing in high quality, impactful carbon offsetting projects?

Resources

• AlliedOffsets
• AlliedOffsets LinkedIn
• AlliedOffsets Corporate Emissions Data and Findings
• Carbonology

In this episode, we talk about:

[00:30] Episode Summary – Tiffany Cheung joins Mel to discuss buyer trends in the voluntary carbon market (VCM), including insights on the use of internal carbon prices and top tips for businesses looking to enter the market.

Don’t forget to catch-up on the previous episode where Tiffany explains what the voluntary carbon market is and gives an insight into the lifecycle of carbon credits.

[01:30] What impact will increased corporate disclosures have on the carbon markets? There are 2 main points:

1. Already on the Agenda: Increased corporate sustainability disclosure may already fit into the changes that are taking place within the thinking of a company.  If a company is spending time on creating and publishing reports on their sustainability initiatives, it is likely that they will  be exploring their options for how they can take action more broadly.This is likely to be associated with increased engagement with the voluntary carbon markets, both through offsetting of carbon footprints and investing in carbon credits or project developers.
2. Project Developer benefits: Project developers will likely benefit from increased insight to the kinds of projects that buyers are purchasing credits from. As a by-product, there may be more focused projects created based off what certain sectors are willing to offset or invest in.

[02:55] What are the rates of decarbonisation across different sectors? To give a macro view from the public data available in corporate sustainability reports over the last few years, the biggest total polluters by sector continue to be energy, maritime, transportation and materials and mining.

Looking at the positives, the energy sector, which has historically been the biggest polluter, has decreased its emissions in both scopes 1 and 2 since 2019. However, there’s still a very long way to go, and with major emitters recently rolling back their climate commitments, one shouldn’t assume that that trend will continue linearly.

Another sector facing an interesting decarbonization journey is aviation, whose emissions have been increasing in recent years, although not quite to pre-COVID pandemic levels. This sector will have to grapple with its emissions whilst contending with forecasted growth in both consumer and business travel over the next decade. Many aviation companies are both committed to Science Based Targets initiatives (SBTi) and fall under CORSIA (Carbon Offsetting and Reduction Scheme for International Aviation), applying pressure on the sector to decarbonize as a whole.

On a positive note, 18 sectors assessed by AlliedOffsets have decreased their average carbon emissions in scope 2 over the past few years, due in large part to increased renewable energy sourcing and improved energy efficiency.

[07:10] What are the emerging buyer trends within the VCM?: AlliedOffsets are in a particularly good position to provide insight to this due to their comprehensive view of both historic buyer activity and new market entrants across the world.

Chinese and German manufacturers have become a steady presence in the market, distinguished by their especially detailed credit retirement information. They’ll go as far as to specify the products and operating periods that are being offset, showing really high levels of engagement with their environmental impact and giving clear insight on their targeted offsetting approach.

Another buyer trend to highlight is occurring within the Australian market, where AlliedOffsets is seeing lots of credit retirement associated with the carbon neutrality certification scheme Climate Active. This is driving most voluntary retirements from the region, particularly from real estate and pension funds.

[09:15] What is an internal carbon price? An internal carbon price is a specific cost or budget set by a company for the carbon or other greenhouse gas emissions that are associated with their specific business activities.

This is typically based off of something like the World Bank calculations on the cost of climate change to society, or it could be based on the price of carbon set by an compliance emissions trading scheme (ETS) that is local to that business.

[10:20] How can companies use a carbon price to ensure that their sustainability goals are financially viable?: For example, EasyJet has an internal carbon price that’s based off of the UK emissions trading scheme. That internal carbon price is factored into the airline’s master financial models and that drives their 5 – 10 year long financial plans. That helps to determine things like the geographical routes that EasyJet operates, which can affect profitability. An internal carbon price makes emissions tangible and material, playing a role in the wider business decisions. An airline operator is considered a big emitter and is likely to already be exposed to some kind of compliance carbon scheme which has a financial impact on the company.

Nonetheless, having an internal carbon price can be useful regardless of how big your business is, as it can be used to budget certain activities and see where emissions might be centralised in a particular department.

An example of this in practice may be that you have an internal carbon price of £50 per tonne, you can take that to an emissions calculator or advisor to work out a budget based on the carbon footprint of different activities or departments in the business. The idea being that if you can identify the cost associated with the emissions created, you know how much to spend to decarbonize. This process may also highlight where you can make further reductions, i.e. reducing air travel and supporting staff on switching to less polluting forms of transport.

[12:55] How can AlliedOffsets data help companies interested in an internal carbon price?: AlliedOffsets has data on the carbon pricing programmes used by companies to set their internal carbon price, as well as the specific price itself for hundreds of different companies.

This dataset also includes companies that haven’t chosen to use a particular pricing scheme but have set an internal carbon price based just off of their unique activities. 

This helps to contextualize the current range of internal carbon prices and the logic behind them.

[13:50] The need for regular review: Internal carbon pricing is something that needs to be reviewed on a regular basis as the costs associated with emitting in some business locations is not going to remain the same. This can also be affected by national legislation, which can increase the financial risk of emitting.

Tiffany recommends reviewing your internal carbon pricing at least annually. They’re seeing an emerging trend within the environmental space where sustainability related impacts within a company are being sequestered into their wider financial operations.

The impacts of climate change are going to become more material to businesses in the very near future. As a result of this, it makes sense for businesses to assess their internal carbon price as part of their annual financial reviews. 

[16:30] What are the critical steps businesses should take to mitigate price volatility and ensure that they’re investing in high quality, impactful projects? Tiffany recommends the following steps:

1. Focus on decarbonising your business operations first and engaging with your suppliers to tackle scope 3 emissions as well. It’s more beneficial to both the business and environment for you to reduce emissions as much as possible, so you have a smaller residual footprint to offset.
2. Decide what kind of projects / carbon credits you want to spend money on, whether it’s offsetting or investing. Besides the climatic impact, there are many co-benefits of carbon projects to choose from, such as improved biodiversity, water supply, or workplace gender equality. Knowing what is valuable to you and your business will help in the selection of these projects.
3. Build strong relationships with developers directly where possible and buy credits directly, in advance. This also has the benefit of ensuring a supply of carbon credits into the future without the worry about how the market might change or become more volatile within the next couple of years.
4. If your business is operating at quite a significant scale, it would be wise to work with another company that’s focused on the voluntary carbon market, like AlliedOffsets. They can provide guidance and forecasting for the specific projects or sectors you’d like to buy from, reducing uncertainty on the future of the market.

[20:00] Have faith in the impact of the voluntary carbon market  – The voluntary carbon market has been through a turbulent period of time, and it’s alright to feel cautious about entering a space which has been unstable in the past.

The concerns about reputational risk associated with offsetting have greatly reduced in the last few years, and it’s set to reduce further as the voluntary and compliance markets merge and integrity improves.

However, if you decide that offsetting isn’t right for your business, there are still other tools that you can take from the voluntary carbon markets to help drive decarbonisation, such as internal carbon pricing.

If you’d like to learn more about AlliedOffsets, visit their website!

If you’d like any assistance with carbon standards, get in touch with Carbonology, they’d be happy to help!

We’d love to hear your views and comments about the ISO Show, here’s how:

• Share the ISO Show on Twitter or Linkedin
• Leave an honest review on iTunes or Soundcloud. Your ratings and reviews really help and we read each one.

Subscribe to keep up-to-date with our latest episodes:

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No business can operate with zero emissions, there’s only so much you can reduce before you need to look at offsetting the remainder to truly achieve Net Zero.

Carbon offsetting comes in many forms, but the ones people will be most familiar with include purchasing carbon credits for nature restoration projects and tree planting efforts.

Historically, the voluntary carbon market has been troubled by project developers who haven’t operated their carbon offsetting projects to the environmental and social standards expected by buyers. With the use of offsets on the rise, it’s clear that there is a need for transparency and standardisation within these voluntary markets.

In this episode Mel is joined by Tiffany Cheung, the Corporate Engagement Lead at AlliedOffsets, to explain what the voluntary carbon market is, how carbon credits work from purchase to retirement and what quality controls are in place to ensure they are reliable.

You’ll learn

• Who are AlliedOffsets?
• What is the voluntary carbon market?
• What are carbon credits, and how do they work?
• What quality controls are in place for carbon credits?
• How will the voluntary carbon market affect future regulatory requirements?
• What does it mean to retire a carbon credit?
• What services do AlliedOffsets offer?

Resources

• AlliedOffsets website
• AlliedOffsets LinkedIn
• Carbonology

In this episode, we talk about:

[00:30] Episode Summary – Tiffany Cheung joins Mel to discuss the voluntary carbon market, explaining the carbon credit lifecycle and what quality controls are in place to ensure they are reliable.

[01:40] Who are AlliedOffsets?: AlliedOffsets aggregates data from over 30 carbon registries and compliance schemes as well as off-registry transactions to present the most comprehensive dataset on carbon offsetting activity globally.

Their data has been featured in publications such as the Financial Times, Forbes, The Guardian and many more.

[03:20] How did Tiffany get involved in carbon markets?: Tiffany has been working with AlliedOffsets for over a year, and a lot of their role as Corporate Engagement Lead includes talking to a variety of stakeholders on the buying side of the carbon market, understanding what their motivations for being in the space are, what their strategies are going into the future and their wider decarbonisation process. Tiffany also looks at their transactional activity and how that has changed over time.

Prior to their position at Allied Offsets, Tiffany worked in a major environmental advisory and brokerage firm based in London. There they gained a knowledge of both voluntary carbon markets as well as renewable energy markets in that space, this in addition to learning more about the accompanying compliance trading and risk side of things.

[06:00] What is the carbon market?: Carbon markets describe markets where carbon is translated from a greenhouse gas into an asset, or a commodity that can be traded. These tend to represent actual tonnes of atmospheric carbon dioxide that have been sequestered somewhere else in the world through various projects.

Compliance carbon markets work differently from voluntary carbon markets. Compliance carbon markets provide regulated ways of pricing carbon, both in terms of reducing emissions and generally making polluters aware of the environmental impact of their emissions in a financial way. They may be associated with the voluntary carbon market, also known as the VCM, or they may be referred to as a kind of carbon tax.

[07:05] What’s the difference between a voluntary carbon market and a non-voluntary carbon market? If you are engaging in the voluntary carbon market, there is no legislative impetus for you to be involved in it. It’s mostly driven by a business’ own desire to offset emissions.

The offsetting of residual emissions is done through the purchase of carbon credits, which are representative of 1 tonne of CO2 equivalent removed from the atmosphere.

If you offset all of your remaining emissions, then you may be able to claim carbon neutrality for the year that the credits apply to.

The benefits of carbon credit-issuing projects aren’t always related to solely greenhouse gas removal, and depending on a businesses motivations, you can help to fund a wide range of beneficial projects such as clean water provision or improved cook stoves which improve air quality in domestic settings.

[09:25] What type of organisations are leading the way with carbon credit purchasing? – AlliedOffsets has unique access to the transaction history across 30 different global registries, enabling them to provide an up to date and wide ranging view on the voluntary carbon market.

There is a very strong relationship between how polluting a sector is and how well engaged it is with the voluntary carbon markets. So major players include energy producers, aviation, maritime, ground transportation and mining and materials.

There is also an increase in financial services, technology and telecommunications services entering the carbon market. Tiffany expects this trend to continue with increased data centre usage and artificial intelligence driving up energy consumption across these sectors.

[11:10] How does the voluntary carbon market operate?: When a company first decides they want to buy carbon credits, ideally they would engage with a well-established broker or intermediary who can source a variety of carbon credits.

It’s helpful for the broker to know what sort of carbon credits or projects a company is looking to invest in. There’s a lot of different options, including:

• Forestry
• Alternative land use
• Blue Carbon
• Engineered carbon dioxide removal

The company will let the broker know how many tonnes of carbon credits they’d like to buy, attributed to a certain period of time or activity based on their quantification and existing carbon reporting.

Market prices will range quite significantly based off of what technology type or methodology you’re going with, but most carbon credits are currently sub $15.

Once agreed, your intermediary will secure and retire the credits for you, from the registry and project developer.

Retiring a carbon credit means they are taken entirely off the market and they’re considered to be “spent” or used. Nobody else can use those as an investment or offset at that point, and the purchasing company can consider their carbon footprint to have been neutralised for the specified period.

[12:00] What quality controls are in place for the voluntary carbon market? Whilethere isn’t a master registry, there are several registries across the world that generally dominate the market. They vary in terms of the methodologies that they may or may not specialise in, as well as with geographies. The biggest ones that you’re most likely to see in the market are known as VCS, GS, ACR, and CAR. These account for about 80% of the total market volume by retirement and issuance.

The way that these registries work is that they perform a bookkeeping function within the space. Projects will register their sequestered tonnes of CO2 removed with these registries, who will then check to see if these projects have complied with their methodology, which would have been set by a Standards Body.

Once approved, those project developers can sell their credits as a commodity. When a business wants to buy credits, the type of projects they want to engage with will dictate the sort of registries they’ll be engaging with.

There are also checks in place set by the registries to ensure that project developers use third parties to further validate their project activities.

[16:45] What are the methodologies used in the voluntary carbon market? A methodology refers to the way in which a specific project should be undertaken in order to ensure that the pace of carbon sequestration and storage is consistent throughout the project’s life.

Registries are ultimately responsible for issuing the appropriate methodology, and the project developers need to be able to evidence compliance to that methodology.

The process for a project to be registered is quite complicated, and it generally takes 2 – 3 years from concept to being in a position to issue credits.

There is also a requirement to have their work validated by a Verification and Validation Body (VVB). These are third party auditors who check the evidence provided by project developers to ensure they comply with the necessary methodology. This may include the VVBs undertaking a site visit.

[19:30] Will regulatory requirements be introduced within the voluntary carbon market?  – Tiffany states that there is definitely a demand for regulatory requirements in the space. There a two key drivers for this:

The need for integrity among buyers – There are many sectors where engaging in a more unregulated space can be risky. Sectors such as the legal and financial sectors need a certain level of oversight to ensure they are making sound investments.

Convergence of compliance and voluntary markets – This is a change that’s been happening over the past few years. This is being driven by governments taking part in the voluntary carbon market space and realising that they can yield returns for the country. Additionally, when they’re spending public funds, there needs to be a certain level of assurance in the projects they’re engaging with.

There is also a growing appetite for businesses engaging in this market to ensure that they are doing the best thing possible ahead of the curve. There’s been a lot of negative press around greenwashing projects, leading to potentially tarnished reputations, to the need for proper checks and regulation is becoming a necessity. 

[22:45] What does it mean for a carbon credit to be retired? – The point at which a carbon credit is retired is when it has been taken totally out of circulation for the market. That means that no other broker, intermediary or end buyer would be able to use that credit in any kind of capacity.

It’s like having the receipt to say this person has purchased this product, it belongs to them now and nobody else can use it.

[24:30] How are stakeholders using the data provided by AlliedOffsets? – AlliedOffsets has a very wide data set, with an equally wide range of stakeholders.

Some particularly interesting use cases include:

Benchmarking against the competition – Corporate buyers use their data to compare how their activity measures up to competitors or peers within their sector due to AlliedOffsets long view of historic activity. It highlights what projects are being favoured by their competitors and what kind of price points they should be looking at as well.

Project developer research – Another common use case is that project developers will want to see who is active in the market and who they should be targeting for funding. AlliedOffsets can see specific buyer activity broken down by region as well as methodology, which means project developers have a really good chance of being able to engage with buyers who are entering the space and might not have established those direct procurement relationships.

Government consultation – Markets can be a huge source of income from the private sector into the public purse. For example, you might have a voluntary carbon market scheme that’s associated with a compliance scheme, which can mean tax benefits for complying businesses alongside socio-environmental benefits for the country.

If you’d like to learn more about AlliedOffsets, visit their website or reach out to Tiffany for more about buyer activity in the VCM!

If you’d like any assistance with carbon standards, get in touch with Carbonology, they’d be happy to help!

We’d love to hear your views and comments about the ISO Show, here’s how:

• Share the ISO Show on Twitter or Linkedin
• Leave an honest review on iTunes or Soundcloud. Your ratings and reviews really help and we read each one.

Subscribe to keep up-to-date with our latest episodes:

Stitcher | Spotify | YouTube |iTunes | Soundcloud | Mailing List

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.

We’d love to hear your views and comments about the ISO Show, here’s how:

• Share the ISO Show on Twitter or Linkedin
• Leave an honest review on iTunes or Soundcloud. Your ratings and reviews really help and we read each one.

Subscribe to keep up-to-date with our latest episodes:

Stitcher | Spotify | YouTube | iTunes | Soundcloud | Mailing List

The UK is the first major economy to achieve it’s 50% reduction target for Greenhouse Gas Emissions (between 1990 and 2022). However, we’ve still got a lot of work to do to reach our 2023 target of a 68% reduction.

Many businesses are already making great strides to reduce their Impact, and while you can reduce, achieving true carbon neutrality will involve offsetting a certain amount of emissions.

One of the biggest challenges for businesses in terms of completing their offsetting is finding a credible carbon offsetting scheme.

Mel is joined by Luke Baldwin, Co-founder and CEO of Nature Broking, to discuss credible nature-based solutions for carbon offsetting.

You’ll learn

• Who are Nature Broking?
• What is Natural Capital?
• How can we restore nature at scale?
• Financing transition regenerative agriculture through the sale of natural capital
• How have Nature Broking worked with clients to complete their carbon offsetting?
• How can you demonstrate a credible carbon offsetting scheme?
• What projects are Nature Broking currently working on?

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 credible nature based solutions for carbon offsetting and explore some of the wonderful projects Nature Broking have been involved with.

[04:10] What is natural capital?  – Natural capital is the idea of creating value from nature. What natural capital does is, it encompasses all the things that we get from nature that we rely on. That could be the shelter in your house all the way through to carbon offsets.

[04:55] Who are Nature Broking? – Nature Broking’s story starts off on a somber note. Sadly, Luke lost one of his friends in a mountaineering accident, and in his memory, Luke and another friend rewilded one acre of Scottish Borders Woodlands. This is something they make a point to visit every year, to pay tribute and to keep their living, breathing monument of his friends memory alive and well.

The experience was an eye opening one. For as lovely as the process was, it was incredibly expensive, and not very easy to do. Luke then realised that philanthropy alone wasn’t going to be able to cover the costs of what we required to restore nature.

Looking into the matter further he found that 50% of the world’s GDP is moderately or highly dependent on nature and that the UK, whilst green and beautiful, sits in the bottom 10%.

And so, an idea was sparked. Together his friend and Co-founder Andy started down the nature restoration path and created Nature Broking.

[06:20] What is Nature Broking’s mission?: Nature Broking have 2 major missions:

#1: Help restore nature at scale

#2: Help finance a transition to regenerative agriculture

[06:34] How can we restore nature at scale?  – The UK Government has set targets of halting nature decline by 2030, with a view to increase nature by 2045.

The Green Finance Institute has calculated that there is a funding gap of about 56 billion in order for us to achieve our legally binding environmental targets. That’s a hefty sum to put on public money and philanthropy, which is where private markets and business can make a big impact.

Frameworks like PAS 2060 (ISO 14068) help businesses invest in nature, and with the creation of carbon credits, carbon has been commodified to make it more accessible for businesses to contribute to carbon offsetting.

[08:20] How can we help finance transition regenerative agriculture through the sale of natural capital? – Regenerative agriculture is about restoring the soils, restoring nature back to its original level.

Modern farming techniques, while fruitful, use tools such as fertilisers and mechanised farming that have damaged the soils biome. That’s going to take time and a concerted effort to fix.

Now obviously, we can’t just stop farming, we need food, so not all land can go back to nature. Currently, 70% of the UK is farmed, so the agricultural sector will play a big part in being more regenerative.

However, the current incentives aren’t great, so there’s a lot of work that needs to be done in terms of financing the mechanisms behind it, i.e. funding and subsidies ect. One way we could do this is by ulitilising the carbon markets, as regenerative agriculture can lead to significant carbon sequestration.

[12:20] How do Nature Broking work with clients? – They make sure to work within the bounds of the business itself, as every business is different..

They don’t do off the shelf solutions, preferring to work closely with their clients and help them to really spend time in nature at the place where their carbon credits are being implemented. It’s ultimately about education on the different solutions available, including asking important questions like:

• What impact do you want to have?
• What are the challenges with each solution?
• What do you need to watch out for?

Each solution is tailored to your business. So, if you’d prefer to work in woodland restoration over regenerative agriculture, then Nature Broking would be happy to work with you to achieve that.

Carbon credits include their own set of challenges, one of the main ones being that science changes, so the solutions offered through carbon credits will also change. It may be a case of purchasing credits that tackle different solutions over a large area rather than pooling them all into planting trees for example. Nature Broking are here to help advise and facilitate this.

[15:30] 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

[17:45] How can Nature Broking demonstrate credible carbon offsetting? – Nature Broking are at their heart transparent with how they operate. By taking clients to see the actual physical results of their carbon credits, they can educate and help others form a genuine connection to nature. They want clients to truly understand the full impact of their efforts.

 The second element is due diligence, which can be displayed by utilising one of the many carbon related frameworks now available, such as B Corp and Sylvera. Though these don’t always work within a UK setting, so Nature Broking are working towards creating frameworks that do fit within the overall market view.

Lastly, they ensure that the standard they’re using is of high integrity, using frameworks such as the Integrity Council for the voluntary market, which analyses different standards. The 2nd is understanding the quality of the project developer, so looking at their technical expertise, looking at their financial ratings, and then evaluating the individual project itself in terms of potential risks.

[21:50] What are some of the projects that Nature Broking are currently working on? – A broad view of what’s available in terms of schemes include:

• The Woodland Carbon Code
• The Peatland Carbon Code – This is run by the IUCN, which is the International Council for the Conservation of Nature.

They are both defined and funded by DEFRA. These are some of the first carbon codes to move into the UK, however there is a lack of available carbon credits, which should change in future.

Other’s include:

• Wilder Carbon – A carbon code focused on rewilding, run by The Wildlife Trust.
• Carbon Code of Conduct – A regenerative agriculture code, so it focuses on analysing the full sequestration and full emissions potential of a whole landholding.

[25:00] Carbon Credits in practice – There’s a current project called Bank Farm in Kent, which is being used as a test site for regenerative agriculture. This includes the likes of agroforestry, which is where you integrate trees into fields which provide shade for animals and store carbon. So, you’re not removing those fields from production, simply adapting them to be more sustainable.

They’re also practicing mob grazing, which is all about using herbivores to maxmise the amount of carbon stored in the soil. You can do this by moving, say cows for example, around a field to graze quickly on small areas before moving them on.

[27:05] Mel’s conclusion – There’s a huge opportunity in the management of agriculture that can be utilised within carbon credit schemes. In addition to helping our economy by creating new jobs within this new approach to tackling emissions and storing carbon. Hopefully we’ll see larger corporations investing in these sorts of schemes both here in the UK and abroad.

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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Before we dive into the new year, we’d like to take a step back and reflect on 2023.

Last year was filled with a lot of topics and challenges, from tackling the transition to ISO 27001:2022, to finding credible ways to offset your carbon emissions within the UK.

With a total of 33 episodes published last year, Mel looks back on the 5 most popular episodes of 2023, including some highlights from each episode.

You’ll learn

• What were the top 5 most popular podcast episodes of 2023?
• A highlight from each of the top 5 episodes

Resources

• The ISO Show

In this episode, we talk about:

[00:45] Editor shoutout – A special shout out to the Blackmores Communication Manager, Steph Churchman, who helps organise, produce and publish the ISO Show podcast!  

[01:20] Information Security was a favorite topic for 2023 – ISO 27001:2022 was definitely a hot topic in 2023, which is not a surprise seeing as anyone currently certified to ISO 27001:2013 will need to transition to the latest standard by October 2025. Many were making a start on this in 2023, or looking to plan it in for 2024.

[02:10] #1: Episode 128 What’s new with ISO 27001:2022? – Orginially published as part of a series of podcasts explaining the new Standard. This episode focuses on a high-level overview of the major changes.

Here are a few highlights from the snippet:

• Steve Gives an overview of what’s new in ISO 27001:2022 – The updated version of ISO 27001 was released on the 26th Oct 2022. The new version included 24 changes and clarifications within the main clauses.
• The controls for the new standard are now categorised into 4 groups: Organisation, People, Physical and Technology 
• We covered some of the new controls in more detail in previous episodes: #109, #110, #111, #112, #113 and #114
• The 24 changes and clarifications to Clauses include older existing clauses which have been tidied up to be more transparent. We recommend reviewing to ensure that you are complying in a way that aligns with the Standard.
• There are 11 new Controls. 56 controls from the 2013 version have been reduced to 24 with 58 remaining unchanged. So, in short, Annex A has been simplified with less duplication of controls.

[09:15] #2: Episode 130 What are the 11 new controls in ISO 27001:2022? – In this episode we brought Steve Mason back to discuss the 11 new controls in ISO 27001:2022, and delve into the context of why these were added. We also highlight some of the resources we’ve made available in the isologuhub, including mention of our ISO 27001 Transition Gameplan.

Here are a few highlights from the snippet:

• These new controls are nothing to worry about – they are simply aligning the Standard with more modern security considerations. You may already be complying with them!
• Control A.5.7 Threat intelligence – ‘To provide awareness of the organization’s threat environment so that the appropriate mitigation actions can be taken.’ – This can come from many different sources, such as the NCSC or local police websites. There are also additional tools you can add to detect possible phishing attacks. This also includes consideration to external threats – Information Security is about much more than just protecting data! It also includes physical security.
• Control A.5.23 Information security for use of cloud services – “To specify and manage information security for the use of cloud services.” – More and more businesses reply on cloud-based computing. It’s important to verify the security of your service provider to ensure it’s adequate. You can check to see if they have any valid Information Security related credentials such as CSA Star, Cyber Essentials, SOC. You could also adopt principles of ISO 27017 (certification for cloud security), ISO 27018 (Protection of PII in the public cloud) and ISO 27701 (PII security Standard).
• Control A.5.30 ICT readiness for business continuity –‘ To ensure the availability of the organization’s information and other associated assets during disruption’ – There a few standards that could assist with this, including ISO 27031 (ICT readiness for Business Continuity). Those that have ISO 22301 may want to look at how ISO 27001 elements can be integrated and improved in any disaster recovery plans. ISO 27001 needs to be an integral part of any business continuity plans – not just a bolt on. Small business may not want to conduct a full business impact analysis, but should carry out a risk assessment around business continuity at the very least.

[21:20] #3: Episode 134 Credible Carbon offsetting with Treeconomy: We had some fantastic guests on the show last year, such as Harry Grocott – CEO of Treeconomy. We invited him on to talk about how we can demonstrate credible carbon offsetting through schemes here in the UK, and how you can avoid falling prey to greenwashing.

Here are a few highlights from the snippet:

• Can we quantify the value of nature? Short answer right now is no, but there is a lot of nuance. Nature offers ecosystem services i.e. farms offer a calorific benefit, we can put a price on the value that offers. The same principle applies to resources such as wood or oil. Now we are gaining the ability to quantify CO2 removal, which is undeniably valuable to humanity.
• Other more recent services such as biodiversity projects are a bit harder to quantify – as they vary so much depending on the country. However, we are starting to assign value to these.
• How can people be sure that they don’t fall prey to Greenwashing? There are 2 main issues to consider: 1) Are your carbon credits credible? 2) what claims are top management making?
• Tackling claims made by leadership: ISO standards are starting to solve this issue. There are clear requirements and certifications that need to be in place to back those claims. 
• Tackling carbon credits: The carbon offsetting market is heavily unregulated currently. Essentially it’s a lot of people trading in invisible gas. There are a number of carbon standards (Not quite at the same level as ISO Standards), such as the Woodland Carbon Code and the Peatland Code, and Internationally there are standards such as Verra VSC – unfortunately, a lot of these standards aren’t very robust and aren’t enforced.
• Many companies will often look to buy the cheapest offsets available, which are likely to be non-credible and will provide no evidence of actual offsetting occurring. But, there are a lot of new companies emerging that provide tangible evidence of offsetting (such as Treeconomy  )

[33:50] #4: Episode 136 dotdigital’s sustainable transformation with ISO 14001 –  We’re always delighted to share stories about our clients’ ISO journeys. In this case we got the chance to talk to Steve Shaw, the Chief Product and Technology Officer at dotdigital, about their journey to achieve ISO 14001.

Dotdigital have a habit of going above and beyond when it comes to implementing ISO Standards, and this time is no different as Steve explains some of the fantastic sustainability initiatives introduced as a result of gaining certification.

Here are a few highlights from the snippet:

• dotdigital was the worlds first carbon neutral marketing automation platform that was ISO 14001 certified. They also aim to be net zero by 2030!
• They have a relatively small footprint as a primarily digital based company, only really having to consider the running of computers, air conditioning and standard office facilities. So it can be a challenge to reduce!
• What led to the success of dotgreen? – dotdigital launched a group called dotgreen, which has since thrived into a community of likeminded individuals all working together to improve and reduce dotdigital’s impact. They were fortunate to have an Executive group sponsor who can take ideas and suggestions to other leadership for consideration. This grassroots group encourages suggestions from everyone – no idea is a bad idea. Over time, the group evolved and helped to develop a sustainability programme for the business. 
• What was one of the initiatives implemented from dotgreen? – They identified that existing data centers used by the business weren’t always utilising renewable energy. So, over the course of 2 years, they worked with Microsoft to build on their Azure platform to enable dotdigital to make the switch. Azure runs on renewable energy sources, and any remaining emissions can be offset through carbon credits.
• A green option for their customers – As a result of their cloud platform now being run through green partners, they can extend the environmental benefit to their customers. 

[42:25] #5: Episode 135 Emerging SaaS Trends in Health and Safety – Health and Safety can be quite the task to keep on top of, a well known fact for anyone certified to ISO 45001. Thankfully, there are a number of Software as a Service options out there to make the lives of Health and Safety professionals much easier. New and emerging technologies are only going to develop more rapidly with the integration of AI and machine learning.

We invited James Sharp, Chief Technical Officer at Riskex, onto the show to discuss the top 10 emerging SaaS trends, including how each can help streamline processes and gather and analyse large amounts of data.

Here are a few highlights from the snippet:

• Riskex have been certified to a number of ISO Standards, including ISO 18001 (Prior Health and Safety Standard, now certifying to the latest version, ISO 45001), ISO 27001 (Information Security) and ISO 9001 (Quality Management)
• Software as a Service became very popular during Covid, as business became very fragmented and were looking for solutions that could be rolled out across multiple sites. Riskex also created their own track and trace system based on established software they were already offering – helping businesses manage Covid safely.
• Trend #1 – Artificial Intelligence – Artificial learning is all around us and with vast volumes of data being collected by safety management platforms.   AI allows decision engines to predict and provide guidance based on key trends or established KPI’s. For example, if accident rates were to increase but at the same time risk levels have been reducing, it could soon highlight this trend and look at other surrounding data or previous trends to establish a pattern.  This will lead to a more pro-active approach to reporting and subsequent decision-making.
• Trend #2 – API Connectivity – Providing an open API platform will allow businesses to integrate internal systems and external services to digest data. As more organisations adopt Cloud solutions, connectivity between platforms has become increasingly important. With a robust API offering, multiple business services can interact with ease and become part of the safety management space, without incurring significant cost or time.
• Trend #3 – Low-Code Optimisation – Developing generic components within software to allow for quicker builds, implementations and tailoring requests. As stand-alone and generic component development increases, solutions can offer more flexibility and self-serve options to the end user to assist them with aligning platforms with their specific processes.
• Trend #4 – Mobile Optimisation – More and more end-users are accessing health and safety software via their mobiles but for various reasons, are not always able to use native apps (installed on the device). Therefore, health and safety software platforms need to adapt use on multiple devices, without the loss of features.

We can’t wait to dive into new topics this year! If you’d like to request a specific topic, or be a guest on a future episode, get in contact and let us know.

We’d love to hear your views and comments about the ISO Show, here’s how:

• Share the ISO Show on Twitter or Linkedin
• Leave an honest review on iTunes or Soundcloud. Your ratings and reviews really help and we read each one.

Subscribe to keep up-to-date with our latest episodes:

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Trying to achieve Carbon Neutrality can feel like a monumental task, especially with so many separate elements that you have to complete. From quantifying your data, reducing where possible and offsetting the remainder, it can be hard to keep track of it all with taking a structured approach.

Which is where ISO 14068 comes in. This is the new Standard for Climate Change Management, and it’s specially designed to help businesses with the transition to Net Zero.

In this weeks’ episode Mel explains 10 reasons why you should use ISO 14068 – the new Standard for Carbon Neutrality.   

You’ll learn

• What is ISO 14068?
• Why should you adopt ISO 14068?
• How can Carbonology Support you with ISO 14068?

Resources

• Carbonology
• Grab a copy of our Net Zero Planner
• ISO 14068

In this episode, we talk about:

[00:25] What is ISO 14068? – This is standard for Climate Change Management. If you’d like to find out more about the Standard, it’s purpose and how it can prevent green washing, go back and watch our previous episode.

[00:55] Where to find more information – This podcast is based off BSI’s most recent Publication on ISO 14068: ‘Climate Change Management – Transition to Net Zero – Part 1: Carbon Neutrality (A BSI Executive Briefing).

You can download this from a recent blog on BSI’s website.

[01:05] Reason 1: A structured approach – Mel found out firsthand from a recent EMEX event that people are looking for a structured approach to carbon neutrality.

ISO 14068 gives organisations a structured process for developing a detailed carbon neutrality management plan with short- and long-term targets.

[02:10] Reason 2: Quality – In contrast to unsubstantiated claims of neutrality, claims under ISO 14068 have to be based on all GHGs, take a lifecycle approach and can only be made after the development of long-term planning, with real GHG reductions in place, and offsetting restricted to residual emissions using high quality carbon credits.

[03:10] Reason 3: Credibility: Use of this internationally recognised standard can offer market benefits by increasing the credibility and verifiability of a product or organisational claim of carbon neutrality.

This Standard has been developed by international technical committees and subject matter experts across the globe, which gives it a lot more credibility in the eyes of Stakeholders. They will have confidence that claims are transparent and reliable from those who adopt ISO 14068.

[04:22] Reason 4: Global Recognition –  A quick reminder – Those who have been listening to the ISO Show for a while now may remember our previous podcasts on PAS 2060 – the previous Standard for Carbon Neutrality. Companies will now have 2 years to transition to ISO 14068. We’ll be doing a podcast on how to go about doing that in 2024!

Circling back to Global Recognition, ISO 14068 provides a common set of criteria for measuring and reporting carbon neutrality. This ensures consistency across different organizations and industries, underpins easer comparisons for carbon neutrality efforts between entities, allows stakeholders to assess and benchmark efforts, and supports global recognition for claims of carbon neutrality.

[05:30] Reason 5: Convenience – If you’ve already got other ISO’s in place, good news! ISO 14068 is designed to work with other quantification standards such as ISO 14064 or other equivalents.

[05:55] Reason 6: Flexibility – ISO 14068 can be used by any sized organisation, in any country or sector. It can also be applied to whole organisations or individual products.

[05:55] Reason 7: Responsibility – The standard encourages organisations to take responsibility for minimising their own carbon footprint before paying third parties to offset their emissions.

We’ve seen in the past where people think just paying for carbon credits will work in the long-term – which just isn’t sustainable. You should be looking to reduce as much as possible before moving onto the Offsetting stage.

[08:00] Reason 9: Risk Mitigation – Adopters of ISO 14068 will be in a strong position to manage current and emerging regulatory and market risks in relation to GHG emissions.

It’s a competitive market place out there, with ESG requirements appearing more on tenders year on year. Many will now require you to prove your commitment to carbon neutrality, and it’s become clear that we need Standards to be able to provide that evidence.

This is where ISO 14068 comes in, as you will have that proven methodology that you can then demonstrate to those stakeholders.

[09:30] Reason 10: Competitiveness –  ISO 14068 demonstrates a commitment to climate action can also mitigate reputational risks and enhance brand value, market access and competitiveness

[10:30] Further Information –  Our sister company, Carbonology, will be publishing more content around ISO 14068 in 2024. Check back on their website to find out more.

We’d love to hear your views and comments about the ISO Show, here’s how:

• Share the ISO Show on Twitter or Linkedin
• Leave an honest review on iTunes or Soundcloud. Your ratings and reviews really help and we read each one.

Subscribe to keep up-to-date with our latest episode’s:

Stitcher | Spotify | YouTube | iTunes | Soundcloud |

To keep global warming to no more than 1.5°C, as called for in the Paris Agreement – emissions need to be reduced by 45% by 2030 and reach net zero by 2050.

Many businesses are already making great strides to reduce their Impact, and while you can reduce, achieving true carbon neutrality will involve offsetting a certain amount of emissions.

Treeconomy are one of the few companies in the UK that offer credible carbon credits. Backed by principles of PAS 2060 (Carbon Neutrality), they seek to break the greenwashing cycle.

Mel is joined by Harry Grocott, CEO and Co-founder of Treeconomy, to discuss their credible carbon offsetting schemes and the innovative technology they use to help quantify the value of nature.

You’ll learn

• Who are Treeconomy?
• What is the difference between services offered for landowners and Offset buyers?
• Can you quantify the value of nature?
• How can people be sure that they don’t fall prey to Greenwashing?
• How can someone go about buying and monitoring offsetting credits?
• Are Treeconomy’s carbon offsetting schemes verified?

Resources

• Treeconomy
• Sherwood
• ISO 14064
• PAS 2060

In this episode, we talk about:

[00:30] Catch up our episodes covering the Sustainable Development Goals (Part 1 / Part 2), ISO 14064 and PAS 2060.

[01:00] Treeconomy are a company that offer credible carbon offsetting schemes – they are one of the few companies who are recognised by PAS 2060 (the Standard for Carbon Neutrality)

[02:05] Harry Grocott (CEO) introduces Treeconomy –  A nature based, carbon removal and restoration company that operate in the UK and Internationally. They offer schemes that work towards afforestation, peatland restoration, rewilding ect. They are also keen to enable evidencing the impact, developing a software platform, remote sensing, and AI technology to do so.

[03:41] They are part of the Centre for climate change innovation which is an initiative of Imperial College London and the Royal Institution to catalyse innovation of all forms that address the causes and effects of climate change.

[04:22] What is the difference in services for Landowners and Offset Buyers? For landowners, Treeconomy can help you change land use from one to another. I.e changing land used for sheep grazing into something more carbon intensive. Treeconomy will ensure that any project started with them is a verified Carbon Scheme – in-line with the woodland carbon code. Once your project set up has been completed and verified, Treeconomy will assist in the sale of credible carbon credits.

[07:22] For offset buyers: Treeconomy offer a wide range of projects and varyingly priced carbon credits.  

[07:45] Can we quantify the value of nature? Short answer right now is no, but there is a lot of nuance. Nature offers ecosystem services i.e. farms offer a calorific benefit, we can put a price on the value that offers. The same principle applies to resources such as wood or oil. Now we are gaining the ability to quantify CO2 removal, which is undeniably valuable to humanity.

[09:18] Other more recent services such as biodiversity projects are a bit harder to quantify – as they vary so much depending on the country. However, we are starting to assign value to these.

[12:15] How can people be sure that they don’t fall prey to Greenwashing? There are 2 main issues to consider: 1) Are your carbon credits credible? 2) what claims are top management making?

[12:44] Tackling claims made by leadership: ISO standards are starting to solve this issue. There are clear requirements and certifications that need to be in place to back those claims.  

[13:00] Tackling carbon credits: The carbon offsetting market is heavily unregulated currently. Essentially it’s a lot of people trading in invisible gas. There are a number of carbon standards (Not quite at the same level as ISO Standards), such as the Woodland Carbon Code and the Peatland Code, and Internationally there are standards such as Verra VSC – unfortunately, a lot of these standards aren’t very robust and aren’t enforced.

[15:30] Many companies will often look to buy the cheapest offsets available, which are likely to be non-credible and will provide no evidence of actual offsetting occurring. But, there are a lot of new companies emerging that provide tangible evidence of offsetting (such as Treeconomy 😊)

[18:30] How can someone go about buying and monitoring offsetting credits? If you don’t want to use a company like Treeconomy, you would need to directly contact and purchase credits from a company who is developing a project.

[19:23] Treeconomy have created a platform called Sherwood – this displays all the projects they are helping to develop, which also tells you who the landowners are and the carbon inventory attached to each project. It can also help you evidence credits purchased, whether they are historic or future carbon removal.

[21:30] Not many companies offer comprehensive reporting and evidencing of carbon credits in practice. Treeconomy use a range of methods such as drones, satellites and AI programs to report back, and aim to make getting this information as easy as possible for credit purchasers.

[23:20] How did Harry get into this business? Starting off studying geography and Science – he later went onto work in finance for 3 years and qualified as a finance adviser. While working he realised that the amount of money available is rarely the issue, rather the use of it. He saw that there was a large gap in funding for climate change mitigation and adaptation – but not enough money was going towards it. He began wondering why more couldn’t be invested and so decided to study climate change management and finance (partly though Covid), where he met his co-founder. After getting some Government grant funding, investors and landowner partners, they have flourished over the last 3 years.

[27:00] Are Treeconomy’s offsetting schemes verified? Yes – they work under the UK woodland carbon code (and soon the peatland carbon code). They are also working to create a new protocol to tackle rewilding, including how the value and progress can be tracked. Internationally they will be working under Verra.

[29:05]  Treeconomy can help to provide detailed evidence of carbon offsetting thanks to their reporting capabilities, this can be passed onto 3^rd party auditors to verify in-line with any carbon Standard. 

[30:00]  You can find Treeconomy via their website, LinkedIn, Twitter and Instagram 😊 

We’d love to hear your views and comments about the ISO Show, here’s how:

• Share the ISO Show on Twitter or Linkedin
• Leave an honest review on iTunes or Soundcloud. Your ratings and reviews really help and we read each one.

Subscribe to keep up-to-date with our latest episodes:

Stitcher | Spotify | YouTube | iTunes | Soundcloud |