Blog

Climate Emergency

one_small_step_blog_header

One small step for you, one giant impact for humankind

If you could only do one thing to minimise your environmental footprint, what would it be? There are so many options, and whilst it is good to have choice, we can find ourselves paralysed by the sheer amount of choice. We elect to use glass bottles instead of plastic, before hearing that this generates more emissions in transport; we buy products accredited as containing sustainable palm oil before discovering we have been <a href="https://www.thenation.com/article/archive/big-business-has-a-new-scam-the-purpose-paradigm/" target="_blank" rel="noopener">deceived</a>; we recycle, before finding out that much of this is ending up in<a href="https://www.independent.co.uk/news/uk/home-news/recycling-waste-uk-overseas-landfill-pollution-nao-environment-defra-a8458991.html" target="_blank" rel="noopener"> landfill</a> on the other side of the world.
Whilst it is important to do our research and make the right decisions where we can, wouldn’t it be nice if there was a quick fix out there, where a one-off decision could outsource some of that eco-stress to the people with the time and expertise to see the bigger picture, ensuring maximum impact with minimum effort?
Well, it turns out there are, none more so than:

Since the Paris Climate accord in 2015, banks have invested <a href="https://www.ran.org/wp-content/uploads/2020/03/Banking_on_Climate_Change__2020_vF.pdf" target="_blank" rel="noopener">$2.7 trillion</a> in fossil fuel companies (to say nothing of tobacco, arms, gambling and other dubious investments). And unless you are explicitly invested in an environmental scheme, this likely includes<a href="https://www.greenpeace.org.uk/news/barclays-banks-climate-change-fossil-fuels/" target="_blank" rel="noopener"> your money</a>. Conversely, it is estimated that it would cost about<a href="https://ourworldindata.org/how-much-will-it-cost-to-mitigate-climate-change" target="_blank" rel="noopener"> $300 billion of investment</a> per year to prevent runaway climate change by the oft-cited cut off point of 2030 (so, about $1.5 trillion in total). At least this makes the solution fairly obvious: reinvest the money currently supporting climate-damaging activities into those that support our planet’s health.
Despite being the driver of so much destructive activity, finance often slips under the rug as a point of focus for those who care about the climate. Because we do not see what our finances are doing on a day to day basis, we do not associate them with the havoc they can cause. But just as factory farms were causing environmental (as well as animal) harm before the public had any idea, so too are your finances. In fact, because of the relative wealth of the average western citizen, the choice you make regarding how your money is put to use is likely the most powerful one you can make in terms of your relative impact as an individual.
A common argument is that green investments are riskier, constituting a new and unpredictable market built around unproven, fledgling companies and technology. But this is not born out on the level of data, or common sense. Traditionally, fossil fuels have been considered a safe investment because the industrial-era economy was based upon them. But this is beginning to change. As the connection between our economy and the broader ecology on which it is dependent becomes more and more stark, investors are waking up to the unsustainability and counterintuitiveness of deleterious investments, and beginning to divert finance in more positive ways. It is estimated for example that the $380 billion California state pension fund lost out on<a href="https://fossilfreeca.org/2019/11/11/study-ca-and-co-pension-funds-lost-billions-on-fossil-fuels/" target="_blank" rel="noopener"> $12 billion dollars</a> because of its decision to uphold investments in fossil fuels over the last ten years. And there is growing evidence to suggest that ESG investments generally (those that look at environmental, social and governance  metrics of company performance, as opposed to merely financial) are <a href="http://www.apple.com/uk" target="_blank" rel="noopener">outperforming conventional investments</a>. 
Another common argument against shifting our finances is that it’s a lot of effort. But whilst the initial cognitive load of researching your options may seem large, the benefit is that, once we’ve made the switch, our finances do the work for us. For most of us, our interaction with our finances constitutes little more than an occasional balance check, so in terms of our day-to-day, investing our money for good requires very little from us. Moreover, with the migration to online (as opposed to high street) financial services, the process takes less time than ever before. No action for the climate comes without effort, but they don’t come much easier than this, especially considering how far that one action can go. 
Of course, the subject is vast and there is no substitute for doing your own research. Whilst this article makes no claim to offering any financial advice, here are a few places to get you started:

artboard-1-copy-9

Artboard 1 copy 9

The last year has seen a range of banks announcing new climate change related products, from Natwest offering the UK’s first <a href="https://personal.natwest.com/personal/mortgages/mortgage-types-and-rates/green-mortgages.html" target="_blank" rel="noopener">‘Green Mortgage’ </a>to the recently licensed <a href="https://www.forestcarbon.co.uk/our-partners/oxbury-bank" target="_blank" rel="noopener">Oxbury Bank</a> offering the first ‘carbon offset savings account’. But the bank which has always had the climate and ethics at its heart is <a href="https://www.triodos.co.uk/" target="_blank" rel="noopener">Triodos</a>, an ethical bank which uses the UN’s sustainable development goals as a yardstick for which companies it invests in. Rather than just avoiding harmful investments (eg tobacco, arms) they actively invest in communities, renewable energy schemes, sustainable food production and social enterprises generally. Their Energy Transition fund alone removed 60,000 tonnes of CO2 from the atmosphere and powered 30,000 homes with renewable energy.
If none of those feel right, you can find other options <a href="https://www.curiouslyconscious.com/2020/02/best-ethical-banks-current-accounts-uk.html" target="_blank" rel="noopener">here.</a>

For many of us, our pensions are the largest investments we have. In the UK alone, pensions account for <a href="https://makemymoneymatter.co.uk/" target="_blank" rel="noopener">£3 trillion</a>. But most of us are enrolled by our employers into a default fund, tending to invest in FTSE 100 companies without considering their carbon footprint. According to Good with Money’s Good Guide to Pensions, “nine times out of ten, pension savings are going into tobacco firms, oil and gas majors, mining, big pharma and big banks: social, climate and environmental breakdown, in other words.” This makes it essential that we take control of our pensions and redivert our investments to combat climate change. The easiest option is <a href="https://www.pensionbee.com/fossil-fuel-free-pension" target="_blank" rel="noopener">Pension Bee</a>, who have a range of environmentally friendly pension funds and provide an automated service which allows you to pool all of your previous pensions under one green plan. One option is their Future World Fund seeks to engage with fossil fuel companies and pressure them into divestment, whilst another is their Fossil Fuel Free fund automatically screens such companies from the outset. <a href="https://www.aviva.co.uk/" target="_blank" rel="noopener">Aviva</a> has also set a target of 2050 for its own auto-enrollment pensions to be carbon neutral. Whichever feels right to you, It really can take just a matter of minutes to make an impact that could last for generations. (To understand more about how our pensions are invested and what options you have, take a look at <a href="https://makemymoneymatter.co.uk/" target="_blank" rel="noopener">Make My Money Matter</a>).

artboard-1-copy-12

Artboard 1 copy 12

Whilst these low-effort, high impact solutions are addressed to individuals, they apply equally for businesses. Any climate-conscious business should seek to ensure their pension schemes are not harming the planet as indicated above. But simply by virtue of their size, finance isn’t the only easy win with significant consequences. Switching to renewable energy companies such as <a href="https://www.ecotricity.co.uk/" target="_blank" rel="noopener">Ecotricity</a> can make a massive difference too. Similarly, businesses produce a huge amount of waste, so you might consider using sustainable waste management services such as <a href="https://thefirstmile.co.uk/" target="_blank" rel="noopener">First Mile</a>, who recycle all possible waste and convert the remainder to be used for tarmac.

artboard-1-copy-10

Artboard 1 copy 10

Whether as individuals or businesses, every decision we make has an important part to play in the fight against climate change, from what we eat to how we shop and travel. But through our investments we can support all of these areas, from green infrastructure, to investment in the natural world and renewable energy. Through your finances you are not only the consumer but the investor, creating pressure from both sides. So take ten minutes out of your day today and see how your finances could start doing some of the heavy lifting for you. To learn more about how businesses can help, visit our <a href="https://ecologi.com/" target="_blank" rel="noopener">carbon offsetting for business</a> page.

blog_xero_zero_launch_header-1

Blog_Xero_Zero_Launch_Header (1)

Big news here at Ecologi HQ! Ecologi Zero is working with Xero to help scale up net-zero in the UK. Our carbon footprinting tool has officially joined the Xero App Store. This joining-of-forces will give thousands of UK service-based small businesses the option to calculate their carbon footprint for free, making it much easier to take climate action and start their net-zero journey. It’s also a big step towards helping the UK decarbonise faster, so we’re really proud of it.

blog_xero_zero_launch_banner_01

Blog_Xero_Zero_Launch_Banner_01

 Unlocking carbon footprinting for small businesses

In the past, carbon footprinting has required a team of expensive consultants to calculate a manual snapshot of emissions. This was far beyond the reach of most small businesses. But that&#8217;s history. This is now.
We designed Ecologi Zero Beta for UK-based small businesses operating in the services industries. The tool’s listing on the UK Xero App Store will give thousands of these businesses the option to easily calculate their carbon footprint for free. 
By connecting Ecologi Zero and Xero, businesses can efficiently calculate their carbon footprint and gain insights into their emissions – much faster than they’d be able to otherwise, at no cost, and based entirely on existing data. So it’s officially time for businesses to stop guessing and start taking action.
It also means that businesses can look outside their direct business emissions and at the suppliers that they work with across their supply chains. Cleaning up supply chain emissions is vital for reaching net-zero, as they can account for up to 90% of a business&#8217; total emissions.

blog_xero_zero_launch_banner_02

Blog_Xero_Zero_Launch_Banner_02

This joining-of-forces feels particularly timely for us, as COP27 saw calls for stronger guidance around net-zero pledges. Yet, according to the Science Based Targets Initiative (SBTi), just 177 small to medium-sized enterprises (SMEs) submitted net-zero targets during 2021. That’s less than 1% of the 5.6 million SMEs in the UK &#8211; not great. 
A 2021 survey by the British Business Bank also found that only 6% of SMEs are likely to have measured their carbon footprint in the last five years (despite SMEs making up 99% of the UK business population and contributing half of all business-driven emissions in the UK). Ecologi’s own research shows that 8 in 10 businesses want to be greener, but don’t know where to start. And it’s no surprise that the major barrier is cost. 
Our CEO, Elliot Coad said: 
“The 1.5 goal may now be unachievable without a major transformation in how businesses operate. If the UK is to reach net-zero by 2050, we need businesses, government and wider society to urgently come together to reduce emissions. At Ecologi, we want to build trust around the decarbonisation process, showing businesses that taking climate action can be simple and rewarding &#8211; with no prior experience needed.”

blog_xero_zero_launch_banner_03

Blog_Xero_Zero_Launch_Banner_03

Now that we’re on the Xero App Store, more UK small businesses will have the tools they need to get started on their net-zero journey. That means zero excuses, zero limits and zero reasons to wait.
Find out more about Ecologi Zero and sign up <a href="https://ecologi.com/business/zero">here</a>.

blog_workplace_climate_conscious_header

Blog_Workplace_Climate_Conscious_Header

How to make your workplace more climate conscious

It’s time to take the initiative and start that conversation with your boss.
How do you start making your business more climate conscious if you’re not the head honcho? Well, it should all start with a (maybe) awkward but (definitely) necessary conversation with your boss. 
It just so happens that this juicy topic is the subject of the final episode of ’1.5 degrees of Confusion’ &#8211; our new three-part mini-series, produced in partnership with WaterBear and narrated by BBC climate presenter Ade Adepitan. The series aims to clear up the complexity around the climate crisis, cut through the jargon, and get focused on solutions. You can watch it <a href="https://www.waterbear.com/watch/63526124ee20e575195ef7a4" target="_blank" rel="noopener">here</a>. 
If you do strike up a climate conversation with your boss, they’ll probably be glad you asked. Most likely they want to take climate action, but aren’t sure where to start. Anyone can take the initiative here. Why not be the one to raise our planet up the priority list and become your office’s climate champion? 
Good intentions are one thing, but to turn talk into action you need a plan. So here’s ten great questions you can ask your boss to get things moving:
<ol>
<li style="font-weight: 400;" aria-level="1">Do we calculate our carbon footprint?</li>
<li style="font-weight: 400;" aria-level="1">If so, does this include emissions from our whole supply chain, or just our own business’?</li>
<li style="font-weight: 400;" aria-level="1">Are we trying to reach net-zero?</li>
<li style="font-weight: 400;" aria-level="1">If so, do we have targets and a timeline for this?</li>
<li style="font-weight: 400;" aria-level="1">Where are most of our greenhouse gas emissions coming from?</li>
<li style="font-weight: 400;" aria-level="1">How could these emissions be reduced or avoided altogether?</li>
<li style="font-weight: 400;" aria-level="1">Do we use renewable energy?</li>
<li style="font-weight: 400;" aria-level="1">What are we doing to communicate our sustainability policies? </li>
<li style="font-weight: 400;" aria-level="1">Are we investing in climate impact projects?</li>
<li style="font-weight: 400;" aria-level="1">And if so, are they certified and legitimate?</li>
</ol>
That should get the conversation flowing! And if you need a hand making the first move, our friends at WaterBear have made an email draft for you to use with your manager or leadership team:
&nbsp;
Hi X,
I hope you are well.
I recently watched a film on WaterBear and it got me thinking about our greenhouse gas emissions as a business. I would love to know a bit more about our plans to become net-zero, and whether we measure our carbon footprint?
It would be great to talk about this and share a few tips I learnt while watching. When would you have time to discuss this?
Many thanks,
X
&nbsp;
To find out more about how Ecologi can help your business measure its footprint, offset its emissions and fund climate solutions, visit <a href="https://ecologi.com/business/zero" target="_blank" rel="noopener">ecologi.com/business/zero</a>.

Updates

blog_impactful_climate_solutions_header

Blog_Impactful_Climate_Solutions_Header

One of the most common questions we get asked at Ecologi is how we choose the carbon avoidance projects we fund. We’re all about transparency and accountability at Ecologi, and we’re keen to lift the lid on how these important decisions get made.
Our process and approach is guided by a number of factors which we’ll touch on in this blog, but the foundation to these decisions lies in our <a href="https://ecologi-assets.s3.eu-west-1.amazonaws.com/files/Ecologi-Impact-Strategy.pdf" target="_blank" rel="noopener">Climate Impact Regionalisation Strategy</a>. In this article, we’ll deep dive into some of the key takeaways from the Strategy document, and discuss the background behind this key piece of research.

blog_impactful_climate_solutions_banner_01-1

Blog_Impactful_Climate_Solutions_Banner_01 (1)

&nbsp;
Climate change mitigation relies on developing policies, and supporting projects, which directly address greenhouse gas (GHG) emissions &#8211; specifically targeting solutions with a high potential impact. Often, the success of these solutions heavily depends on regionally- or locally-specific factors, which can be categorised into:
<ul>
<li style="font-weight: 400;" aria-level="1">Financial and political factors (like funding, governance and institutions)</li>
<li style="font-weight: 400;" aria-level="1">Geographical factors (like project size, topography and local climate) </li>
</ul>
At the same time, there are different levels of responsibility that cities, regions and countries have, over the mitigation of climate change. With relatively small contributions to global climate change &#8211; but extremely high vulnerabilities to its consequences &#8211;  developing regions and countries are at the forefront of the crises. These countries and regions also have less financial capacity to mitigate and adapt. For Ecologi, contextualising our response to a global crisis is not only necessary from a climate perspective, but it also enables us to include issues of environmental and social justice into our project selection criteria. 
As well as the day-to-day processes we use to scrutinise climate projects to ensure they are high quality, we also have our finger on the pulse of climate research and climate finance, to ensure that the projects we support are going to contribute wherever there is the greatest opportunity to have the biggest impact.
In early 2022, we therefore formalised our <a href="https://ecologi-assets.s3.eu-west-1.amazonaws.com/files/Ecologi-Impact-Strategy.pdf" target="_blank" rel="noopener">Climate Impact Regionalisation Strategy</a>, a science-based analysis of where these opportunities are.

blog_impactful_climate_solutions_banner_02

Blog_Impactful_Climate_Solutions_Banner_02

The Strategy was specially developed to provide guidance for the regional application of climate impact solutions and projects. 
The Strategy document will give you an overview of regional climate change impacts on human systems and settlements, in order to better capture regional vulnerabilities to climate change. We’ve analysed regionalities in the light of past and current climate change finance, and described the available climate mitigation strategies globally and regionally.
Finally, and to integrate the climate change discourse into broader environmental and planning discussions, we reflect on the synergies and tradeoffs between climate solutions, the UN Sustainable Development Goals and biodiversity. Therefore, the Strategy not only looks at climate change mitigation but also attempts to account for biodiversity and planetary boundaries. 
Unclear on any of the climate terms? Take a look at <a href="https://ecologi.com/glossary-of-climate-terms" target="_blank" rel="noopener">our glossary</a>!

blog_impactful_climate_solutions_banner_03

Blog_Impactful_Climate_Solutions_Banner_03

Below you&#8217;ll find our top 10 research findings from the Strategy:
<ol>
<li>National-scale emissions targets cover a huge chunk (90% in 2020) of global emissions &#8211; but only 6% of global emissions are covered by targets with a net-zero pathway which will keep warming under 1.5ºC.</li>
<li>Current annual climate finance flows of $640 billion (USD) are nowhere near estimated needs &#8211; which are estimated at around $5 trillion (USD) per year. In developing regions, current climate investments need to be multiplied by 10 to 20 times on average by 2030.</li>
<li style="font-weight: 400;" aria-level="1">A quarter of global emissions (2019 baseline) could be avoided by options with mitigation costs lower than $20 (USD) per tCO2e.</li>
<li style="font-weight: 400;" aria-level="1">Onshore wind and solar photovoltaics are anticipated to dominate the growth of renewables in all regions. Other renewables such as hydro, bioenergy, geothermal, and ocean energy have limited impact &#8211; except in specific regions like the Middle East, North Africa, North America and China.</li>
<li style="font-weight: 400;" aria-level="1">Nature-based solutions can provide about a third of the climate mitigation needed by 2030 and a fifth by 2050. Half of this impact comes from the protection and conservation of natural ecosystems. </li>
<li style="font-weight: 400;" aria-level="1">Restoration efforts should primarily focus in regions throughout the tropics, particularly in the lowland tropical rainforest landscape. </li>
<li style="font-weight: 400;" aria-level="1">Restoration activities need to be targeted to specific regions, for example with low opportunity cost and high conservation value from a biodiversity perspective, like in the North and South of the Congo Basin, and in Central and South America.</li>
<li style="font-weight: 400;" aria-level="1">Direct air capture and storage (DACS) is a suitable solution in countries with high waste heat production and low CO2 intensities within their national grid &#8211; and not recommended in developing countries, (semi-)arid regions, and countries with a fossil-fuel reliant electricity mix. </li>
<li style="font-weight: 400;" aria-level="1">Because of water use required, most regions, except Western Europe and Southeast Asia, have very limited potential for bioenergy with carbon capture and storage (BECCS) as a reasonable mitigation solution. </li>
<li style="font-weight: 400;" aria-level="1">At the project level, the integration of social co-benefits such as health outcomes in selecting climate solutions can help prioritise one region or country over another. This applies for example in West and East Africa, as well as in Southern and Southeast Asia where the distribution of efficient cookstoves can be applied as a joint health and climate solution.   </li>
</ol>
At Ecologi, we recognise that the science of climate change mitigation goes deeper than presented in the Strategy &#8211; and we always recommend taking a look at the latest <a href="https://www.ipcc.ch/" target="_blank" rel="noopener">IPCC Reports</a> for detail on the latest developments.
Our Strategy seeks to apply learnings from the latest climate science &#8211; to help to further enhance the impact of our climate projects by providing high-level guidance as to where our impact funding should be placed. 
&nbsp;
Download the full Climate Impact Regionalisation Strategy <a href="https://ecologi-assets.s3.eu-west-1.amazonaws.com/files/Ecologi-Impact-Strategy.pdf" target="_blank" rel="noopener">here</a>. 
&nbsp;
<a href="https://ecologi.com/plan" target="_blank" rel="noopener">Sign up</a> to Ecologi today to start taking real climate action 🌿

One small step for you, one giant impact for humankind

Greening your finances

Sustainable Banking

Pensions

Businesses

More posts

Ecologi Zero™ joins the Xero App Store to support UK businesses on their net-zero journey

How to make your workplace more climate conscious

How Ecologi finds and funds the most impactful climate solutions

Start making a difference today

Fund the best climate solutions

About

Take action

Members

Resources

Follow us

© 2022 Ecologi

We send good things