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Climate Emergency

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2020 was the joint hottest year on record despite a 7% drop in greenhouse gas emissions. Why? 

The average temperature across the world in 2020 was <a href="https://climate.copernicus.eu/2020-warmest-year-record-europe-globally-2020-ties-2016-warmest-year-recorded" target="_blank" rel="noopener">1.25°C higher than pre-industrial times</a>. This is dangerously close to the 1.5°C limit set by the world nations to avoid the worst impacts of climate change, and made 2020 the <a href="https://climate.copernicus.eu/2020-warmest-year-record-europe-globally-2020-ties-2016-warmest-year-recorded" target="_blank" rel="noopener">joint hottest year on record</a>.  This means the last six years have been the six hottest years on record and that the period from 2011-2020 was the <a href="https://climate.copernicus.eu/2020-warmest-year-record-europe-globally-2020-ties-2016-warmest-year-recorded" target="_blank" rel="noopener">hottest decade ever recorded</a>.
Only 2016 matched the heat recorded in 2020, however in 2016 there was a natural <a href="https://oceanservice.noaa.gov/facts/ninonina.html" target="_blank" rel="noopener">El Niño climate event</a> that boosts temperatures. Without the added factor of this natural event in 2016, <a href="https://climate.copernicus.eu/2020-warmest-year-record-europe-globally-2020-ties-2016-warmest-year-recorded" target="_blank" rel="noopener">scientists predict that 2020</a> would have been the outright hottest year. 
Meanwhile, Europe saw its warmest year on record at <a href="https://climate.copernicus.eu/2020-warmest-year-record-europe-globally-2020-ties-2016-warmest-year-recorded" target="_blank" rel="noopener">0.4°C warmer than 2019</a>, the previous hottest year on record. The Arctic and northern Siberia also saw particularly <a href="https://www.theguardian.com/environment/2021/jan/08/climate-crisis-experts-2020-joint-hottest-year-ever-recorded" target="_blank" rel="noopener">extreme average temperatures in 2020</a>, with a large region 3°C warmer than the long-term average, and some locations more than 6°C warmer. This led Arctic sea ice to shrink to its <a href="http://nsidc.org/arcticseaicenews/2020/09/arctic-sea-ice-decline-stalls-out-at-second-lowest-minimum/" target="_blank" rel="noopener">second-lowest extent</a> on record in september 2020. 
All this occurred in the year that we saw a <a href="https://essd.copernicus.org/articles/12/3269/2020/" target="_blank" rel="noopener">7% drop in worldwide greenhouse gas emissions</a> due to the global shutdown caused by the COVID-19 pandemic. Globally the burning of fossil fuels released <a href="https://www.globalcarbonproject.org/carbonbudget/" target="_blank" rel="noopener">34.1 billion tonnes</a> of carbon dioxide in 2020, down 2.3 billion tonnes from the previous year. The most<a href="https://www.globalcarbonproject.org/carbonbudget/" target="_blank" rel="noopener"> dramatic reduction</a> in emissions was seen in the transport sector, especially road traffic, with a steep dive in April when countries across the world had imposed strict limits on travel. Emissions from aviation were also reduced drastically, with a reduction of <a href="https://www.carbonbrief.org/global-carbon-project-coronavirus-causes-record-fall-in-fossil-fuel-emissions-in-2020" target="_blank" rel="noopener">75%</a> seen during the peak of COVID-19 lockdowns. At the start of December 2020, emissions from road transport and aviation were still lower than their December 2019 levels, by <a href="https://www.carbonbrief.org/global-carbon-project-coronavirus-causes-record-fall-in-fossil-fuel-emissions-in-2020" target="_blank" rel="noopener">10% and 40% respectively</a>. 
Why is it that in the year in which the coronavirus pandemic drove one of the largest, most dramatic drops in human CO2 emissions ever recorded, did we see an increase in warming? It&#8217;s all to do with how long CO2 remains in our atmosphere.

Throughout human history, the Earth&#8217;s climate has been changing. But the changes we are seeing now are happening much faster than they would do naturally. This is because of humans emitting carbon dioxide (CO2) and other greenhouse gases into the atmosphere. 
Greenhouse gases are gases that trap heat in a process called the greenhouse effect. When the sun’s energy reaches the Earth, some of it is absorbed by the Earth&#8217;s surface, and the rest is reflected back outwards. Most of this goes back into space, but some is absorbed by greenhouse gases and re-radiated back towards the Earth, causing further warming. The greenhouse effect is a natural process, without which the average temperature on the Earth would be <a href="https://public.wmo.int/en/our-mandate/focus-areas/environment/greenhouse%20gases#:~:text=The%20natural%20greenhouse%20effect%20is,approximately%2033%20degrees%20Celsius%20cooler." target="_blank" rel="noopener">-18°C</a>. 
However, human activities are accelerating this process by putting more greenhouse gases into the atmosphere, meaning that more heat is re-radiated back towards the Earth and leading to increased levels of warming. CO2 is the single most important greenhouse gas directly released by human activity. It is produced in high quantities by human sources and it stays in the atmosphere for a long time. This CO2 builds up in the atmosphere and continues to cause warming year after year.

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The difference between emissions and concentrations

The carbon dioxide that we release into the atmosphere through the burning of fossil fuels, industry processes, and deforestation is referred to as emissions. These are measured by the amount of greenhouse gas that we release into the atmosphere each year. 
The carbon dioxide that we release stays in the atmosphere for a very long time. This means that when we release more CO2 it adds to the big store of CO2 that is already there. The amount of CO2 that is actually in the atmosphere is called the CO2 concentration. It&#8217;s this store of carbon dioxide in the atmosphere that traps the Earth&#8217;s heat, leading to climate change. The atmospheric CO2 concentration has increased dramatically in recent decades due to human emissions. Currently it is about <a href="https://climate.nasa.gov/vital-signs/carbon-dioxide/" target="_blank" rel="noopener">415 parts per million</a> (ppm).

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Each year as we emit more and more, the concentration of CO2 in the atmosphere gets higher and higher. But even if we stopped emitting any greenhouse gases right now, the emissions we have already released over the past 200 years would still be there to cause warming. This is because CO2 has such a long lifetime. It is estimated that <a href="https://www.oxfordmartin.ox.ac.uk/downloads/briefings/Short_Lived_Promise.pdf" target="_blank" rel="noopener">15-40% </a>of the increase in CO2 due to fossil fuels is expected to remain in the atmosphere for over 1000 years. 
One analogy, used by the <a href="https://www.carbonbrief.org/analysis-what-impact-will-the-coronavirus-pandemic-have-on-atmospheric-co2" target="_blank" rel="noopener">carbon brief</a>, is the filling up of a bath from a tap. If the tap represents CO2 emissions and the water level in the bath is the CO2 concentrations in the atmosphere, then reducing emissions slightly is the same as slightly turning the tap down. Water is still flowing into the bath and so the level is still rising, just a bit slower. In the same way reducing emissions slightly does not immediately reduce concentrations of CO2, it only slows down the rate of increase. The carbon dioxide humans have already emitted can remain in the atmosphere for a hundred years; some of it could last <a href="https://blogs.ei.columbia.edu/2020/06/25/covid-19-impacts-climate-change/" target="_blank" rel="noopener">tens of thousands of years</a>.

What effect has the COVID-19 pandemic had? 

This explains why we didn&#8217;t immediately see an effect of the drop in emissions caused by the coronavirus pandemic. Although less CO2 was emitted in 2020 than in previous years, the CO2 that was emitted still added to the ongoing-build up in the atmosphere. 
One study predicted that across the whole of 2020, CO2 levels in the atmosphere would rise by <a href="https://www.carbonbrief.org/analysis-what-impact-will-the-coronavirus-pandemic-have-on-atmospheric-co2" target="_blank" rel="noopener">2.48ppm</a> (parts per million). This increase is <a href="https://www.carbonbrief.org/analysis-what-impact-will-the-coronavirus-pandemic-have-on-atmospheric-co2" target="_blank" rel="noopener">0.32ppm smaller</a> than if there had been no lockdown, but it is still an increase in the total atmospheric concentration, and since warming is related to cumulative emissions, the overall amount of avoided warming will be minimal. Until net global emissions reduce to zero, CO2 will continue to accumulate in the atmosphere and drive further change.

Hopefully this article has made it a bit clearer why the drop in emissions caused by lockdowns hasn&#8217;t perhaps had the impact on the climate that we may have hoped for. We need to see a continued reduction in emissions year after year, before this will start to impact significantly on the concentrations of greenhouse gases in the atmosphere.
The UK Met Office has issued a forecast that the CO2 levels in the atmosphere will pass a new milestone in 2021 &#8211; being <a href="https://www.metoffice.gov.uk/about-us/press-office/news/weather-and-climate/2021/2021-carbon-dioxide-forecast" target="_blank" rel="noopener">50% higher than before the industrial revolution</a>. This not only means that we have released a massive amount of carbon dioxide into the atmosphere, but also the rate at which we have done so has increased significantly. It took over 200 years for the levels to increase by 25%, but now at just 30 years later we are approaching a 50% increase. 
Even if we reduce emissions now, it can take a while for these to have an effect on temperatures. This can seem demoralising, but it is why it is so important to act now. Our actions will take a while to impact on temperatures and there&#8217;s a certain amount of warming already baked in. We can’t allow any more warming to happen.
It is estimated that emissions need to decrease by <a href="https://www.unep.org/interactive/emissions-gap-report/2019/#:~:text=Today%2C%20we%20need%20to%20reduce,are%20ambitious%2C%20but%20still%20possible." target="_blank" rel="noopener">7.6% each year between 2020 and 2030 </a>to be on track to achieve the 1.5°C goal. Last year we roughly achieved the 7% reduction needed. This year we need to decrease 7.6% again from last year&#8217;s emissions, and then 7.6% below this in 2022 and so on. Each year must have a reduction of 7.6% on the year before that. 
So, last year showed a good start if you just look at emissions. But think about what it took for us to get there. Over 2.5 million people have now died from coronavirus, millions were out of work, car traffic in April was almost half of what it normally is, and air traffic virtually stopped completely. We need policies and action now to reduce emissions in a more stable and sustainable way.

How might we achieve the emissions reductions needed? 

We need rapid decarbonisation of the energy sector. Sadly <a href="https://ourworldindata.org/energy-mix" target="_blank" rel="noopener">84.3% of our energy</a> still comes from fossil fuels, which release CO2 into the atmosphere. We need to rapidly transition away from these polluting energy sources and towards clean renewable energy technologies such as wind, solar and hydro energy. 
We also need a global shift towards sustainable and climate-smart agriculture. <a href="https://ourworldindata.org/food-ghg-emissions" target="_blank" rel="noopener">26% of worldwide emissions </a>come from the agricultural sector, but by employing methods such as agroforestry, crop rotations, crop diversification, precision agriculture and many more we can ensure that enough food can be made on the same land indefinitely, without depleting our natural resources and minimising emissions. We also need policies and action to reduce deforestation and land clearance, particularly from the agricultural sector. 
Investments in industrial innovations are also needed to decarbonise more difficult sectors &#8211; such as the steel industry, and to tackle some of the open problems such as the need for better energy storage for wind and solar energy and improved electric batteries.

We all have a role to play if we are to achieve the emissions reductions needed. Bill Gates in his book <a href="https://www.gatesnotes.com/Energy/My-new-climate-book-is-finally-here" target="_blank" rel="noopener">‘How to avoid a climate disaster’</a> wisely highlighted three key things that ordinary people can do. 
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<ul>
<li aria-level="1">Use your political voice &#8211; Vote for parties that put climate change on the agenda. Parties can disagree on tactics to help get to zero but it needs to be a primary goal. You can also use your voice to talk to people that you know about climate change, and bring them around to the cause, even if their general political opinions are different to yours. Maximise the power of your voice by engaging in activism and joining groups such as <a href="https://www.greenpeace.org.uk/" target="_blank" rel="noopener">Greenpeace</a>, <a href="https://friendsoftheearth.uk/" target="_blank" rel="noopener">Friends of the Earth</a>, <a href="https://fridaysforfuture.org/" target="_blank" rel="noopener">Fridays for Future</a> and <a href="https://extinctionrebellion.uk/" target="_blank" rel="noopener">Extinction Rebellion</a>.</li>
</ul>
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<ul>
<li aria-level="1">As a consumer, make the right choices &#8211; The old saying ‘vote with your wallet’ really applies here. It&#8217;s important to buy less, and to buy well. Only buy what you really need and when you do buy, choose the most sustainable option wherever possible. As a consumer you have power. If you buy an electric car, or buy artificial meat, it drives the rate of innovation up and makes a statement that more of this is needed.</li>
</ul>
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<ul>
<li aria-level="1">As an employee, ask your company to take action &#8211; Engage the company you work with to take more action on sustainability within the organisation and their supply chain. One specific thing you can do is investigate your pension fund, and make sure that your money is supporting green funds. Learn about our <a href="https://ecologi.com/business">carbon offset programs for businesses.</a></li>
</ul>

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Achieving the emissions reductions needed to reach net zero by 2050 and to limit warming to 1.5°C isn&#8217;t going to be easy. It will need everyone to engage with the climate crisis and get involved in solving it. But we believe that we can do it. <a href="https://ecologi.com/plan">Sign up</a> to Ecologi today to help fund the world&#8217;s best climate solutions. Together we have the power to change the world.

Don't wait for politicians, your company can lead the way to net-zero

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Don’t wait for politicians, your company can lead the way to net-zero

<h2>With the cumbersome movement of climate policy, innovative companies must drive change on our route to net-zero.</h2>
 
COP28 is on the way, starting in Dubai at the end of November. It’s fair to say that, given <a href="https://ecologi.com/articles/blog/whats-happening-at-cop27" target="_blank" rel="noopener">the disappointments of last year’s COP</a>, and the fact that this year’s COP President is <a href="https://www.bbc.co.uk/news/science-environment-65708328" target="_blank" rel="noopener">CEO of one of the world’s largest oil companies</a>, expectations are low that international governments will produce positive change which matches the scale and urgency of the climate crisis.
These past few years, the COPs have demonstrated that international policy can be a slow, almost agonising process &#8211; with tense last-minute negotiations, and <a href="https://ecologi.com/articles/blog/cop26-what-happens-now" target="_blank" rel="noopener">the watering down of already-weak pledges</a> and commitments. 
As we look to the COPs, though, it is clear that there are stakeholders elsewhere who are better placed to drive expansive and rapid change in the decarbonisation of our global economy: businesses.

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<h2>Businesses are set-up to innovate &#8211; but are they doing enough? 
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Why businesses? Well, we can start by asking ourselves which organisations have the power to facilitate change on a scale that in some cases may exceed many states. <a href="https://www.visualcapitalist.com/the-tech-giants-worth-compared-economies-countries/" target="_blank" rel="noopener">Apple&#8217;s market capitalisation exceeds Italy&#8217;s GDP</a>, <a href="https://www.visualcapitalist.com/the-tech-giants-worth-compared-economies-countries/" target="_blank" rel="noopener">Microsoft&#8217;s surpasses Brazil&#8217;s</a>, and <a href="https://www.visualcapitalist.com/the-tech-giants-worth-compared-economies-countries/" target="_blank" rel="noopener">Meta&#8217;s dwarfs that of Saudi Arabia</a>. With this much influence and access to finance, these private companies have a huge amount of control over the direction of our global net-zero efforts.
Large corporations understand the way the wind is blowing. According to Accenture, around <a href="https://www.accenture.com/us-en/insights/sustainability/reaching-net-zero-by-2050" target="_blank" rel="noopener">a third of the world’s top 2,000 public and private companies </a>have made net-zero commitments. However, according to the same research, around <a href="https://www.accenture.com/us-en/insights/sustainability/reaching-net-zero-by-2050" target="_blank" rel="noopener">93% of them will fall short of these net-zero targets unless they accelerate their efforts</a>.
Why is this? Well, for major corporations, climate ambitions are often perceived as optional corporate social responsibility (CSR) gestures, lacking the rigour and accountability expected of political leaders and international climate governance. This means that whilst businesses are well-placed to take action, often they aren’t yet going far enough.

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<h2>Taking climate action makes business sense 
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It’s easy to assume that taking climate action as a business is going to be a huge time and resource sink. And it’s true that the journey to net-zero for most businesses is going to be a long-term challenge &#8211; it’s definitely no walk in the park.
But for many businesses, embracing net-zero presents a significant opportunity. Younger generations &#8211; Generation X, Millennials and Generation Z &#8211; want to see companies taking action, with over <a href="https://www.nielsen.com/us/en/insights/article/2018/global-consumers-seek-companies-that-care-about-environmental-issues/" target="_blank" rel="noopener">80% of consumers from these groups reporting that companies should implement environmental improvement programs</a>. Global investment in sustainability <a href="https://www.weforum.org/agenda/2020/01/sustainability-green-companies-business-partnership/" target="_blank" rel="noopener">has surpassed $30 trillion</a>, demonstrating that as well as individuals, corporate investment initiatives are prioritising the greening of our economy.
Fossil fuel prices are expected to rise steadily, while <a href="https://ourworldindata.org/grapher/levelized-cost-of-energy" target="_blank" rel="noopener">renewable energy costs continue to plummet</a>. For corporations, transitioning to a fossil-free supply chain is a prudent strategy for future-proofing their operations &#8211; both in terms of costs and in terms of energy security.

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<h2>Corporate leadership during and after COP28</h2>
In contrast to the cumbersome movement of international climate policy, the private sector is often associated with innovation, expertise, and agility. It&#8217;s time for businesses to lead the way, proactively driving the green transition rather than waiting to be nudged by governments.
Companies, as much as countries, are stewards of our planet. Those with influence, finance and power have a responsibility to protect our collective home. Therefore, 2023 must be the year when businesses step up and take the lead in the global effort to combat climate change.

<a href="https://ethy.co.uk/" target="_blank" rel="noopener">ethy</a>
 
<a href="https://ecologi.com/ethy" target="_blank" rel="noopener">ethy</a> makes it easy and affordable for brands to communicate verified sustainability achievements against transparent standards.
 
They are a Climate Action Workforce subscriber with Ecologi and are aiming to be net-zero by 2025. They are also a part of Stripe Climate &#8211; a coalition of businesses accelerating carbon removal by contributing a portion of their revenue to carbon removal technologies.
 
How do you think the private sector can lead in the journey to net-zero?
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In the UK, businesses are increasingly adopting ambitious carbon reduction and net-zero strategies.When the private sector demonstrates successful implementation of sustainable practices, it also signals to policymakers that there’s viable markets for these initiatives. This, in turn, incentivises the government to introduce policies that support these practices.
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What are your plans for COP28?
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Ahead of COP28, we have developed several important new standards in our sustainability framework to guide our business clients on their net-zero journey, including Carbon Measured, Carbon Reduction Targets, and Net Zero Committed. We aim to highlight these crucial practices and showcase our collaborative efforts with organisations like Ecologi that can support our clients in reaching them.

Ecologi businesses that are taking action during COP28

<h2> 
Take action today and speak to our team</h2>
If you&#8217;re a business ready to embrace this crucial responsibility and take a substantial stride towards achieving Net Zero, we invite you to take action today. Complete the form below to speak to our team about how Ecologi and our partners can provide comprehensive carbon footprinting solutions and dedicated support on your journey to reducing emissions.
If you’re a business with less than 100 employees explore our carbon footprinting tool, <a href="https://ecologi.com/business/zero" target="_blank" rel="noopener">Ecologi Zero</a>, designed specifically for UK-based SMEs looking to measure and reduce their carbon footprint.

Speak to our team. We're here to help find your perfect climate solution.

Go above and beyond during your net-zero journey: Explaining Beyond Value Chain Mitigation

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Explaining Beyond Value Chain Mitigation

Beyond value chain mitigation &#8211; what is it? Why should your business do it? How should your business do it?
Science is clear that minimising global warming requires substantial emissions reductions globally, if we are to limit the global temperature increase to below 2°C, and as close as possible to 1.5°C.
Simply offsetting your business emissions is an outdated and ineffective way of thinking about sustainability &#8211; as we set out in our previous article, <a href="https://ecologi.com/articles/blog/carbon-offsetting" target="_blank" rel="noopener">The way we think about carbon offsetting is all wrong</a>. If all the businesses in the world kept doing what they were doing, but offset their emissions, then we would not solve climate change.
So, for businesses to align with the science of climate change, making direct emissions reductions must be the number one priority.
However, whilst working towards those emissions reductions, businesses can (and must) fund high-quality climate‌ action around the world, at the same time &#8211; and this is where Beyond Value Chain mitigation comes in. 
But what does that actually mean? Where does the term come from, and where does it fit within your business’s net zero journey?
<h2>What is Beyond Value Chain Mitigation?</h2>
Beyond value chain mitigation, or BVCM, is a key concept in the <a href="https://sciencebasedtargets.org/resources/files/Net-Zero-Standard.pdf" target="_blank" rel="noopener">SBTi’s Corporate Net-Zero Standard</a>, which is the leading net-zero framework for businesses.
<ul>
<li style="font-weight: 400;" aria-level="1">‘Beyond’ refers to actions a business can take outside of its value chain</li>
<li style="font-weight: 400;" aria-level="1">‘Value chain’ is the system of operations, suppliers and activities that generate business emissions</li>
<li style="font-weight: 400;" aria-level="1">‘Mitigation’ refers to solutions which reduce the impact of climate change.</li>
</ul>
Don’t be put off by the scientific terminology. It just means funding climate action around the world, whilst reducing your business emissions on your journey to net-zero.

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Funding climate action allows businesses to focus on making an instant impact today that contributes positively on a global and societal level, instead of  simply trying to offset their  carbon emissions. Whilst the main priority, direct emissions reductions will take some time, so all businesses can and should start funding climate action (BVCM) today.
<h2>Why should businesses invest in BVCM?</h2>
There are two main vectors for why your business should invest in BVCM: for your business, and for our planet.
<h3>For your business</h3>
As well as your business’s philanthropic values, there is ever-increasing pressure from within and around businesses to take serious action on climate. Your business will want to meet climate targets, attract and retain top talent, make credible green claims about your products and services, and gain a competitive edge &#8211; and each of these is boosted if your business can evidence your contributions to impactful global climate action.
Stakeholders all around your business &#8211; from customers, to employees, to potential investors &#8211; all want to see your business give back to the planet. And BVCM is your business’s vehicle for doing so.
<h3>For our planet</h3>
On a global level, there is still a huge gap between where we are today, and where we need to be. Emissions are still rising, and we are continuing to deplete nature’s precious resources at an alarming rate. At present, globally, humanity is using nature<a href="https://www.overshootday.org/how-many-earths-or-countries-do-we-need/#:~:text=Humanity%20is%20using%20nature%201.7,the%20resources%20of%201.7%20Earths." target="_blank" rel="noopener"> 1.7 times faster</a> than our planet’s biocapacity can regenerate. That’s equivalent to using the resources of 1.7 Earths each year. The UK specifically is using 2.6 more of the natural resources than it should. In addition, we are <a href="https://www.stockholmresilience.org/research/planetary-boundaries.html" target="_blank" rel="noopener">overshooting planetary boundaries</a>, and our <a href="https://www.carbonbrief.org/analysis-what-the-new-ipcc-report-says-about-when-world-may-pass-1-5c-and-2c/" target="_blank" rel="noopener">remaining carbon budget</a> is dwindling. 
Alongside taking accountability for your business’s direct emissions reductions, BVCM supports your business to make a positive contribution out there in the world &#8211; to support global efforts toward net-zero, and to the restoration of nature.

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<h2>How should your business approach BVCM?</h2>

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<h3>Tonne-for-tonne</h3>
The simplest approach is the tonne-for-tonne approach. This is similar (though not quite the same!) as offsetting or becoming carbon neutral. 
This means that your business buys and retires carbon credits to match 100% of your company’s emissions. If you produce 100 tonnes of emissions, you’ll buy 100 carbon credits. The size of your emissions is used to benchmark the size of your contribution to climate action.

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<h3>Dollar-for-tonne</h3>
The dollar-for-tonne approach allows you to set a carbon price within your business. For example, you could say that you will fund climate impact of, say, £75, or $100, per tonne of emissions your business produces.
Both of these first two approaches apply the ‘polluter pays’ principle &#8211; meaning that the more emissions your organisation produces, the larger your obligation to fund climate action. Committing to one of these approaches therefore provides your business with a powerful financial incentive to reduce your emissions.

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<h3>Dollar-for-dollar</h3>
Dollar-for-dollar is the most flexible approach, but can also be the most difficult to implement. It ties your BVCM funding to your financial performance as a business, not to your organisational emissions. Examples could include spending 5% of your business’s annual profits on climate action, or 1% of your annual turnover. As your business grows, so does your funding toward climate action. 
As always, whichever approach you choose, it must be carried out alongside an emissions reduction plan &#8211; otherwise, it’s just greenwashing.
<h2>Which BVCM approach is best?</h2>
Which approach is ‘best’ is likely to depend on your business &#8211; what it does, which industry it is in, and how big it is. The highest impact approach in terms of funding mitigation is often the dollar-for-dollar approach, but this commitment may not be possible for your business &#8211; and it also may not be the highest impact approach, if your business is in a particular industry which has high emissions or small margins.
You can even mix approaches.

By definition, climate action that ‘counts’ towards BVCM are those that help to mitigate climate change, and that take place outside of the value chain.
The SBTi gives some examples: 
<ul>
<li style="font-weight: 400;" aria-level="1">Conservation projects, e.g., peatland or mangrove</li>
</ul>
<ul>
<li style="font-weight: 400;" aria-level="1">Energy efficiency, e.g., cookstove projects</li>
</ul>
<ul>
<li style="font-weight: 400;" aria-level="1">Methane destruction, e.g., landfill gas projects</li>
</ul>
<ul>
<li style="font-weight: 400;" aria-level="1">Renewable energy, e.g., solar/wind/biogas</li>
</ul>
<ul>
<li style="font-weight: 400;" aria-level="1">Industrial gases, e.g., N2O destruction at nitric acid facilities</li>
<li style="font-weight: 400;" aria-level="1">Carbon Removal technologies, e.g., Direct Air Capture (DAC) and Storage</li>
</ul>
Adapted from <a href="https://sciencebasedtargets.org/resources/files/Beyond-Value-Chain-Mitigation-FAQ.pdf" target="_blank" rel="noopener">SBTi (2021)</a>
 
The examples given by the SBTi refer only to the types of projects which generate carbon credits.
 
However, at Ecologi, we encourage businesses to think beyond carbon credits as well. Landscape restoration, ocean conservation, rewilding, climate education, climate justice &#8211; investing in all of these should be considered when preparing a BVCM strategy, and all of them count.

What climate action can I fund?

<h2>What makes a strong portfolio?</h2>
For businesses it can be helpful to think of funding climate action  as a ‘portfolio’, like an investment portfolio. A strong portfolio will have:
<ul>
<li aria-level="1">Integrity. Select projects and initiatives that benefit climate, nature and people. 
</li>
<li aria-level="1">Diversity. Balance different projects and project types in order to both maximise impact and minimise risk. </li>
</ul>
<ul>
<li style="list-style-type: none;"></li>
</ul>
<ul>
<li aria-level="1">Quality. Vet all your selected projects for the quality of their activities. All carbon credits <a href="https://ecologi.com/articles/blog/funding-carbon-credits" target="_blank" rel="noopener">must meet high quality standards</a>.</li>
</ul>
<ul>
<li aria-level="1">Dynamism. Actively monitor the contributions of your business and be proactive with keeping those contributions up-to-date. </li>
</ul>
<ul>
<li aria-level="1">Innovation. Support new projects and initiatives within your portfolio. Don’t be afraid to move things around &#8211; if you find a project isn’t working out, exercise the flexibility and initiative to try something new.</li>
</ul>
In comparing your climate action portfolio to an investment portfolio, don’t expect it to deliver a financial return. It represents your business giving back &#8211; the ‘return’ is in impact for our planet helping to bring us forward to a more equitable, net-zero world. 
<h2>What might your BVCM portfolio look like?</h2>
Here’s an example of what a BVCM portfolio you could build with Ecologi might look like:

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Blog_BVCM_Portfolio_Graph_Banner (1)

As you can see, in this example there is a good variety of project types, and funding is provided in different amounts across the different types of projects. This allows you to prioritise project types and locations that matter most to your business.
Remember: <a href="https://sciencebasedtargets.org/blog/net-zero-urgent-beyond-value-chain-mitigation-is-essential" target="_blank" rel="noopener">funding BVCM is urgent and essential</a> whilst on your climate journey &#8211; but in building your BVCM portfolio, you should always consider where best to place your funds to produce the most impact. If you could spend some or all of your BVCM budget for this year on direct emissions reduction (for example, through installing solar panels) then you ought to prioritise that instead.
In this way, BVCM takes its place alongside your plans to reduce emissions directly, and should never displace them.
<h2>When should I start funding climate action?</h2>
The short answer is: start today. 
Funding climate action is not a get-out-of-jail-free card which excuses your business from reducing emissions. However, it can be the quickest and easiest way to get moving on your climate journey.
Moreover, BVCM represents an opportunity you can tackle in the immediate term, whilst you undertake longer-term strategies for directly reducing your emissions. Both components are essential, but they are likely to have different timescales for your business.
<h2>How can I fund climate action through Ecologi?</h2>
Your business can fund the very best climate solutions through our Impact Shop.
From tree planting to renewables, community-based and nature-based carbon avoidance projects and carbon removals including biochar, mangroves &amp; seagrass (blue carbon) and afforestation you can make an instant impact for our planet.
If you already know what you want to fund then visit our Impact Shop <a href="https://ecologi.com/business/impact-shop" target="_blank" rel="noopener">here</a>.
If you need to speak to our team to find the right solution for your business, get in touch below.

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What to expect at COP28

This year’s annual Conference of the Parties (COP28) is just around the corner, and at Ecologi we’re gearing up to bring you more analysis and reaction to developments as this 28th session of the parties to the UNFCCC (United Nations Framework Convention on Climate Change) unfolds.
In this guide we’ll be covering:
<ul>
<li><a href="#whatiscop28">What is COP28</a></li>
<li><a href="#whereandwheniscop28">Where and when is COP28</a></li>
<li><a href="#keytalkingpoints">The key talking points in the run up to COP28</a></li>
<li><a href="#whoisattending">Who is attending COP28</a></li>
<li><a href="#whattoexpect">What to expect during COP28</a></li>
</ul>
This page will be our hub for all things COP &#8211; so whether you’re eager to learn about the climate conference process, or just want to know what’s happening, you can find it all here.

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<h2>COP28: what, where and when?</h2>
<a id="whatiscop28"></a>COP28 is the 28th <a href="https://unfccc.int/" target="_blank" rel="noopener">Conference of the Parties to the UNFCCC</a> &#8211; the UN’s primary climate change body. All United Nations member states are Parties to this treaty, as well as the European Union and other non-UN member states. That makes the COPs a huge event in the political calendar, where world leaders come together once per year to discuss, negotiate, and make commitments on climate change.
<a id="whereandwheniscop28"></a>This year’s COP takes place in Dubai, United Arab Emirates, from 30th November to 12th December 2023. The two-week conference will cover a number of crucial climate topics, including <a href="https://www.cop28.com/en/thematic-program" target="_blank" rel="noopener">climate finance, youth, agriculture, and more</a>.
We’ve previously covered events at <a href="https://ecologi.com/articles/blog/whats-happening-at-cop27" target="_blank" rel="noopener">COP27 in Sharm El Sheikh</a> and <a href="https://ecologi.com/articles/blog/what-happened-at-cop26" target="_blank" rel="noopener">COP26 in Glasgow</a>, so do revisit our articles on those if you need a refresher on how it all takes place.

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<h2><a id="keytalkingpoints"></a>What are the key talking points in the run up to COP28?</h2>
<h3>The hosts</h3>
As ever &#8211; or perhaps more than ever &#8211; this COP is mired in controversy before it’s even begun. As a nation, the host country, the UAE produces the <a href="https://ourworldindata.org/grapher/co-emissions-per-capita?tab=chart&amp;country=ARE~GBR~CHN~AUS~USA" target="_blank" rel="noopener">sixth-most emissions per capita of any country</a> in the world (21.8 tCO2e per capita in 2021, excluding land use change). It is one of the world’s ten largest oil producing countries, with <a href="https://www.trade.gov/country-commercial-guides/united-arab-emirates-oil-and-gas" target="_blank" rel="noopener">around 30% of its economy</a> based on oil production. The COP President is Sultan Ahmed Al Jaber, <a href="https://www.bbc.co.uk/news/science-environment-64240206" target="_blank" rel="noopener">who is CEO of ADNOC</a>, the Emirati state-owned oil company.
The UAE has also <a href="https://www.theguardian.com/environment/2023/aug/01/leak-uae-presidency-un-climate-summit-oil-gas-emissions-yemen" target="_blank" rel="noopener">been accused of attempting to whitewash</a> (and greenwash) its reputation ahead of the conference, including hiring a number of PR and lobbying agencies to promote the country’s image, which is often associated with strict restrictions on freedom, and <a href="https://www.amnesty.org/en/location/middle-east-and-north-africa/united-arab-emirates/report-united-arab-emirates/" target="_blank" rel="noopener">allegations of human rights violations</a>.
<h3>Fossil fuel phase-out</h3>
The ‘High-Ambition Coalition’, a loose group of around 15 Parties including France, the Marshall Islands, Sweden and the UK, has started preparing negotiations to phase out fossil fuels. This is notable because countries and multilateral groups are not always up-front about their negotiating stances prior to the conference, and even more seldom are those stances ambitious enough to meet the challenge of the climate crisis.
You may remember this was a key flashpoint back at COP26, where at the last minute the language of phasing out fossil fuels <a href="https://www.theguardian.com/environment/2021/nov/13/cop26-countries-agree-to-accept-imperfect-climate-agreement" target="_blank" rel="noopener">was disappointingly changed to phase down “inefficient fossil fuel subsidies&#8221;</a> in the final cover decision.
Whether the High Ambition Coalition can maintain this phase out stance throughout two weeks of negotiations remains to be seen. What is certain is that this issue has become the most glaring elephant in the room for the international climate conferences: we all understand that <a href="https://news.un.org/en/story/2022/09/1126931" target="_blank" rel="noopener">the burning of fossil fuels must end</a>. But the politics of the COPs has so far meant that a commitment (even a non-binding one) to end fossil fuel use for good has still not been delivered.
<h3><a id="whoisattending"></a>Who’s going (and who’s not)</h3>
In a first, Pope Francis <a href="https://www.wsj.com/world/pope-francis-to-attend-cop28-climate-change-conference-in-dubai-16c50cd5" target="_blank" rel="noopener">has announced</a> he will be attending COP28 this year, making him the first Pope to do so. He and the Vatican have been happy to speak out on climate change in recent years, including vocally backing the Paris Agreement and <a href="https://www.independent.co.uk/climate-change/news/donald-trump-pope-francis-slap-face-paris-agreement-climate-change-vatican-global-warming-a7767751.html" target="_blank" rel="noopener">criticising the US for withdrawing from it</a> under Donald Trump in 2020 (the US rejoined the Agreement under Joe Biden in 2021).
Biden himself will <a href="https://www.reuters.com/sustainability/cop/biden-unlikely-attend-dubai-cop-climate-meeting-sources-say-2023-10-31" target="_blank" rel="noopener">reportedly not be in attendance</a> this year, though he did attend COP 27 last year, and his administration is known for changing the President’s plans to make appearances last-minute. 
During his speech a few weeks ago where he announced the slackening of some of the UK’s climate commitments, <a href="https://www.bbc.co.uk/news/uk-66871073" target="_blank" rel="noopener">the Prime Minister Rishi Sunak announced</a> that he would be attending COP28. In addition, we now know that King Charles will also be attending, and <a href="https://www.royal.uk/news-and-activity/2023-11-01/the-king-will-attend-cop28-uae-0" target="_blank" rel="noopener">delivering an opening address on 1st December</a>. The King has been very vocal about environmental issues over the years, including <a href="https://www.youtube.com/watch?v=xV9n0LM63Bc&amp;t=12s" target="_blank" rel="noopener">taking part in our very own virtual festival of climate action</a> back in 2020.

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<h2><a id="whattoexpect"></a>What to expect during the COP</h2>
As is always the case, we can expect lots of talking points, controversies, and politicking to take place throughout the two weeks of the COP. 
Because of the fact that the conference host and key organising figures are so heavily associated with the fossil fuel industry, it seems unlikely that this COP will deliver much in the way of substantive commitments on reducing fossil fuel use. We can probably expect a lot of high-profile speeches and announcements early on, with the legal and policy commitments then steadily being watered-down over the two weeks.
There are other factors too, like a recent history of disappointment from the COPs, which so far have failed to halt annual increases in emissions &#8211; let alone begin reducing them. In the UK, with the conference being later than usual and finishing only two weeks before Christmas, we can probably expect relatively little cut-through into television and news media.
Throughout the conference, we’ll be bringing you regular updates as we follow along with the negotiations and announcements.

<h2>Partner with us for COP28 and beyond</h2>
Over the next 12 months we want to support as many businesses as possible to measure their footprint and help reduce their emissions.
If your business is interested in a brand partnership to help scale climate action or starting its climate journey during COP28 or beyond, get in touch 🌍

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