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In recent years, wildfires, flooding and extreme weather events have propelled environmental concerns into the mainstream. Yet there is one aspect of environmental change which often receives less attention, mostly because it is less immediately visible: biodiversity loss.

Biodiversity is the variety and variability among living organisms and the ecosystems in which they are a part of. It includes the diversity within species, between species, and within ecosystems.
There are four main ways in which we measure biodiversity: 
<ul>
<li aria-level="1">Genetic diversity &#8211; is the variety of genes within a species. Each species is made up of individuals that have their own particular genetic composition. Variation in genetic diversity is essential to the long-term survival of a species, as it enables evolution and adaptation within a changing environment.</li>
<li aria-level="1">Species richness &#8211; is the variety of different species within a habitat or region. So far about <a href="http://cbd.int/convention/guide/#:~:text=Scientists%20reckon%20that%20there%20are,crops%20and%20breeds%20of%20livestock.">1.75 million species</a> have been identified, although scientists reckon that there are actually about <a href="http://cbd.int/convention/guide/#:~:text=Scientists%20reckon%20that%20there%20are,crops%20and%20breeds%20of%20livestock.">13 million species</a> (estimates range from <a href="http://cbd.int/convention/guide/#:~:text=Scientists%20reckon%20that%20there%20are,crops%20and%20breeds%20of%20livestock.">3 to 100 million</a>).  </li>
<li aria-level="1">Ecosystem species diversity &#8211; is the variety of species with a specific habitat or region that occur nowhere else in the world.</li>
<li aria-level="1">Ecosystem diversity – is the variety of ecosystems in a given place, such as those that occur in deserts, forests, wetlands, lakes and agricultural landscapes. An ecosystem is a community of organisms and their physical environment interacting together. </li>
</ul>
Biodiverse environments provide us with a wealth of natural resources. All our food systems depend on biodiversity, and natural ecosystems provide us with fuel, water, medicines and many other goods. Healthy ecosystems also provide us with ecosystem services such as soil formation, nutrient storage, and protection against natural hazards and disasters.
Reversing the trend of biodiversity loss is also an important part of the solution to tackling the climate crisis. <a href="https://www.cbd.int/gbo/gbo5/publication/gbo-5-spm-en.pdf" target="_blank" rel="noopener">Around one third</a> of the net reductions in greenhouse gas emissions required to meet the Paris Agreement goals could come from ‘nature-based solutions’; actions to protect, sustainably manage, and restore natural or modified ecosystems.

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Biodiversity is declining faster than it has at any other time in human history. The <a href="https://reports.weforum.org/global-risks-report-2020/save-the-axolotl/" target="_blank" rel="noopener">current rate of extinction</a> is tens to hundreds of times higher than the average over the past 10 million years, and it is still accelerating. Although the entire human population represents just <a href="https://reports.weforum.org/global-risks-report-2020/save-the-axolotl/" target="_blank" rel="noopener">0.01% of all living creatures, humanity has already caused the loss of 83% of all wild mammals biomass and half of all plants</a>. 
Since the industrial revolution, human activities have increasingly destroyed and degraded forests, grasslands, wetlands and other important ecosystems. 75% of the Earth&#8217;s ice-free land surface has already been significantly altered, most of the oceans are polluted, and more than 85% of wetlands have been lost. 
Many scientists believe that we are at the start of a sixth mass extinction &#8211; defined as when <a href="https://www.researchgate.net/publication/50267709_Has_the_Earth%27s_Sixth_Mass_Extinction_Already_Arrived_Nature" target="_blank" rel="noopener">over 75% of all species disappear </a>within a short space of geological time (typically less than 2 million years). There have been<a href="https://www.researchgate.net/publication/50267709_Has_the_Earth%27s_Sixth_Mass_Extinction_Already_Arrived_Nature" target="_blank" rel="noopener"> 5 mass extinctions in the last 540 million years,</a> according to the fossil record. The most recent was when the dinosaurs became extinct <a href="https://www.nationalgeographic.com/science/article/mass-extinction" target="_blank" rel="noopener">66 million years ago.</a> 
Extinction is a natural phenomenon, however human activities are accelerating the rate at which these extinctions occur. Human activity endangers biodiversity in at least five main ways: 
<ol>
<li>Changes in land and sea use &#8211; This refers to the modification of the environment in which a species lives, by complete removal, fragmentation or reduction in quality of key habitat. Multiple human drivers such as agricultural and industrial expansion have already led to the loss of <a href="https://reports.weforum.org/global-risks-report-2020/save-the-axolotl/" target="_blank" rel="noopener">85% of wetlands, altered 75% of land surface, and impacted 66% of ocean area</a>. </li>
<li>Over-exploitation of plants and animals &#8211; through harvesting, logging, hunting and fishing. For example, fishing is one of the most significant drivers of declines in ocean wildlife populations, with more than <a href="https://www.worldwildlife.org/threats/overfishing" target="_blank" rel="noopener">one-third of the world&#8217;s assessed fisheries</a> currently pushed beyond their biological limits.</li>
<li>Pollution &#8211; habitats are being destroyed by untreated waste; by pollutants from industrial, mining and agricultural activities; and by oil spills and toxic dumping. </li>
<li>Invasive species &#8211; are species that are found outside of their natural distribution range as a result of human intervention. They can compete with native species for space, food and other resources; can be a predator for native species; or spread diseases that were not previously present in the environment. The occurrence of invasive species increased by <a href="https://reports.weforum.org/global-risks-report-2020/save-the-axolotl/" target="_blank" rel="noopener">40% globally since 1980. </a></li>
<li>Climate change &#8211; affects biodiversity as climate variables largely <a href="https://link.springer.com/article/10.1007/s10584-019-02420-x" target="_blank" rel="noopener">determine the geographic distribution range </a>of species. When climate is no longer suitable, species either have to move, or they go locally extinct. Climate change exacerbates nature loss, which in turn reduces nature’s resilience to climate change &#8211; a vicious circle.</li>
</ol>

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While most of us are now familiar with the Paris Agreement, and its goal to limit global warming to 1.5°C,  the Convention on Biological Diversity and the international targets to tackle the biodiversity crisis are less well known. 
The <a href="https://www.cbd.int/" target="_blank" rel="noopener">Convention on Biological Diversity</a> (CBD) is the international treaty for the conservation of biodiversity. It opened for signature at the Earth Summit in Rio de Janeiro in 1992 and entered into force in December of 1993. This treaty has been ratified by 196 nations and seeks to address all threats to biodiversity and ecosystem services. It has three main objectives:
<ol>
<li style="font-weight: 400;" aria-level="1">The conservation of biological diversity </li>
<li style="font-weight: 400;" aria-level="1">The sustainable use of the components of biological biodiversity</li>
<li style="font-weight: 400;" aria-level="1">The fair and equitable sharing of the benefits arising out of the utilisation of genetic resources. </li>
</ol>
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<h2>Failure to reach the 2020 Aichi biodiversity targets</h2>
In the 2010 UN biodiversity Conference in Nagoya, Aichi Prefecture, Japan, the CBD adopted a revised and updated Strategic Plan for Biodiversity which included 20 Aichi Biodiversity targets for the 2011-2020 period. 
These <a href="https://www.cbd.int/sp/targets/" target="_blank" rel="noopener">20 Aichi Biodiversity Targets</a> were targeted around 5 strategic goals, setting benchmarks for improvements across drivers of biodiversity loss, pressures on biodiversity, the state of biodiversity, the benefits derived from it and the implementation of relevant policies and enabling conditions. Parties agreed to translate the overarching international framework into revised and updated national biodiversity strategies and action these plans within two years. 
Come 2020, at the global level <a href="https://www.cbd.int/gbo/gbo5/publication/gbo-5-spm-en.pdf" target="_blank" rel="noopener">none of the 20 targets were fully achieved</a>. Six of the targets for biodiversity loss were partly achieved, however on the whole progress was shocking, and the other 14 targets , such as eliminating subsidies that are contributing to biodiversity decline, or halving the rate at which natural ecosystems are being destroyed, were completely missed.

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If we carry on our current trajectory, biodiversity will continue to decline. However, <a href="https://www.cbd.int/gbo/gbo5/publication/gbo-5-spm-en.pdf" target="_blank" rel="noopener">available evidence</a> says that despite the failure to meet the Aichi biodiversity targets, it&#8217;s not too late to slow, halt and eventually reverse current trends. 
The first part of the UN biodiversity conference took place online in October 2021. The second part is currently scheduled to take place in the third quarter of 2022 in <a href="https://sdg.iisd.org/events/un-biodiversity-conference-cbd-cop-15-part-2/">Kunming Yunnan Province, China</a>. This will be the fifteenth meeting of the parties (COP-15) to the Convention on Biological Diversity, and during this conference global leaders will set the Post-2020 Global Biodiversity Framework. 
According to the most recent <a href="https://www.cbd.int/gbo/gbo5/publication/gbo-5-spm-en.pdf" target="_blank" rel="noopener">Global Biodiversity Outlook report</a>, this framework must include a portfolio of actions in the following areas, each of which is necessary but none on its own is sufficient: 
<ul>
<li aria-level="1">Conservation and Restoration &#8211; Efforts to conserve and restore biodiversity need to be scaled up at all levels using methods that will depend on the local context, but include setting up protected areas, large-scale habitat restoration and improvements in the condition of nature across farmed and urban landscapes as well as inland water bodies, coasts and oceans.</li>
<li aria-level="1">Climate Action &#8211; Globally climate change has not been the most important driver of the loss of biodiversity to date, yet in the coming decades it is projected to become as, or more, important than the other drivers. Efforts to keep climate change well below 2°C and as close to 1.5°C as possible are needed.</li>
<li aria-level="1">Reducing environmental pressures &#8211; Measures are needed to address all remaining pressures driving biodiversity loss including invasive species, pollution, and the unsustainable exploitation of biodiversity.</li>
<li aria-level="1">Sustainable production &#8211; Transformations are needed in the production of goods and services, especially food. This includes adopting agricultural methods that can meet a growing global demand, whilst reducing negative impacts on the environment.</li>
<li aria-level="1">Reduced consumption &#8211; Transformations are similarly needed to limit the demand for increased food production by adopting different diets and reducing food waste, and in limiting the consumption of other material goods and services that affect biodiversity, for example in forestry, energy and provision of fresh water.</li>
</ul>

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Humanity stands at a crossroads. Biodiversity is declining at an unprecedented rate, and the pressures driving this decline are intensifying. 
In ‘business as usual’ scenarios the trend of biodiversity decline is <a href="https://www.cbd.int/gbo/gbo5/publication/gbo-5-spm-en.pdf" target="_blank" rel="noopener">projected to continue until 2050 and beyond</a>, due to the increasing impacts of land and sea use change, overexploitation, climate change, and invasive species introductions. This projected decline will affect all people, but in particular will have a detrimental effect on indigenous people and local communities, and the world&#8217;s poor and vulnerable, because of their heavy reliance on biodiversity for their livelihoods and wellbeing.
We need to act on the biodiversity crisis. At Ecologi, we plant <a href="https://ecologi.com/articles/updates/year-2-of-the-ecologi-forests" target="_blank" rel="noopener">native and biodiverse trees,</a> helping to restore forest cover and bringing biodiversity back to areas where it has been lost. We also fund projects to <a href="https://ecologi.com/projects/forest-protection-in-northern-zimbabwe" target="_blank" rel="noopener">protect existing forests</a>, and to restore other ecosystems including <a href="https://ecologi.com/projects/peatland-restoration-in-indonesia" target="_blank" rel="noopener">peatlands</a>. You can read more about how our projects are helping support biodiversity <a href="https://ecologi.com/articles/blog/how-does-deforestation-impact-wildlife-and-biodiversity-what-you-need-to-know">here</a>, or <a href="https://ecologi.com/plan">sign up</a> to Ecologi and help contribute to these projects.  
We have an opportunity to act, and turn this trend of loss around. Let&#8217;s make this the decade that we take meaningful action on the biodiversity crisis.
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<a href="https://ecologi.com/business/overview">Sign up</a> to Ecologi today to start taking real climate action.

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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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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