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At the end of 2021, Ecologi became an Actor in the <a href="https://www.decadeonrestoration.org" target="_blank" rel="noopener">UN Decade on Ecosystem Restoration</a>! We join around 100 other <a href="https://www.decadeonrestoration.org/partners" target="_blank" rel="noopener">organisations, charities, and agencies</a> who are committed to accelerating ecosystem restoration efforts.

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The UN Decade on Ecosystem Restoration (the ‘UN Decade’) is “a rallying call for the protection and revival of ecosystems all around the world, for the benefit of people and nature.” Globally, there are many initiatives working to restore ecosystems, and protect existing ecosystems from harm. The UN Decade aims to support the acceleration of thousands of such initiatives so that, together, we can protect as much of our natural world as possible, bringing life back to areas where it has been eradicated due to human activity. Initiatives driven by the UN Decade will restore ecosystems to support a more sustainable future for the planet. <a href="https://www.decadeonrestoration.org/types-ecosystem-restoration" target="_blank" rel="noopener">8 types of ecosystems</a> will be restored as part of the UN Decade: Farmlands, Forests, Freshwaters, Mountains, Oceans &amp; Coasts, Peatlands, Urban Areas, and Grasslands, Shrublands &amp; Savannahs.
Just as the deadline for achieving the <a href="https://sdgs.un.org" target="_blank" rel="noopener">UN’s Sustainable Development Goals</a> (SDGs) is 2030, so too is the end of the UN Decade, by which time we collectively need to have made significant strides forward in ecosystem restoration. Ecosystem restoration projects will also support several of the SDGs, improving lives all around the world as well as protecting important habitats and species. 
Driving the UN Decade are the <a href="https://www.unep.org" target="_blank" rel="noopener">United Nations Environment Programme</a> and the <a href="https://www.fao.org/home/en/" target="_blank" rel="noopener">Food and Agriculture Organization of the United Nations</a>. Essential to the Decade’s success will be the building of political momentum for restoration, and the UN’s unique position to engage parties from all areas of the world will be fundamental in achieving this.

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What does being an Actor within the UN Decade involve?

By becoming an Actor, we are committing to supporting and facilitating ecosystem restoration activities. Of course, this is already at the heart of Ecologi. As an Actor, we have agreed to adhere to the <a href="https://www.decadeonrestoration.org/publications/principles-ecosystem-restoration-guide-united-nations-decade-2021-2030" target="_blank" rel="noopener">UN Decade Restoration Principles</a>. In doing so we will be able to maximise our positive impact on the planet, ensuring best practice as part of a worldwide effort to restore precious ecosystems and the species that live within them. Being part of this global movement is very exciting for us, and we will work hard to accelerate ecosystem restoration efforts so that, by the end of the decade, together we will have made a significant amount of progress towards a better world for us all.

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Why is ecosystem restoration important right now?

There is an urgent need to make big improvements to our planet’s threatened and damaged ecosystems. Without these changes, <a href="https://www.ipcc.ch/sr15/chapter/chapter-1/" target="_blank" rel="noopener">we have a much lower chance of avoiding catastrophic climate change</a>. Major restoration must be carried out by the end of the decade, but the clock is ticking. The natural world has the potential to <a href="https://www.nature.org/en-us/what-we-do/our-insights/perspectives/natures-make-or-break-potential-for-climate-change/" target="_blank" rel="noopener">help us to keep global climatic systems on an even keel</a>, but it needs to be nursed back to health to maximise its impact.
Many ecosystems and the species that live within them are under increasing pressure, both due to direct human pressures, and due to the changing climate. If we hesitate to protect these ecosystems we will drive many species to extinction, adding to the estimated <a href="https://www.nature.com/articles/d41586-019-01448-4" target="_blank" rel="noopener">1 million species that are already under great threat due to human activity</a>.

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How does Ecologi’s work contribute to ecosystem restoration?

Through Ecologi, individuals and businesses can contribute towards projects restoring ecosystems around the world. Not only do we fund amazing reforestation projects to restore ecosystems that have been reduced in size, but we also support some amazing nature-based carbon reduction projects that protect and enhance existing ecosystems. Here are a few examples of the projects the Ecologi community supports that help to restore and protect ecosystems.

<h3>Temperate Forest Restoration in Kenya</h3>
We began supporting <a href="https://ecologi.com/projects/forest-restoration-in-kenya" target="_blank" rel="noopener">this project</a> in June 2021, and have already funded the planting of over 2 million trees here! In this region there had been lots of deforestation since the 1970s tos support agriculture, charcoal production and livestock. Remaining forest is being restored by planting an estimated 14.25 million trees over 7 years, on over 5,700 hectares of land.
By employing local people to plant these trees, and paying them a fair wage, access to <a href="https://sdgs.un.org/goals/goal4" target="_blank" rel="noopener">education</a>, <a href="https://sdgs.un.org/goals/goal2" target="_blank" rel="noopener">nutrition</a>, and <a href="https://sdgs.un.org/goals/goal3" target="_blank" rel="noopener">healthcare</a> is also being improved by this project. In total, 8 of the UN’s SDGs are being supported by this project, showing that ecosystem restoration doesn&#8217;t just bring benefits to nature, but also, almost immediately, improves people’s quality of life.

<h3>Protecting Lowland Peat Forest in Indonesia</h3>
Keeping existing ecosystems intact, and protecting the life within them, is also very important. <a href="https://ecologi.com/projects/protecting-lowland-peat-forest-in-indonesia" target="_blank" rel="noopener">The Rimba Raya REDD+ project</a> is the first project Ecologi has supported to be certified by Verra’s <a href="https://verra.org/project/sd-vista/" target="_blank" rel="noopener">Sustainable Development Verified Impact Standard</a> (SDVista). This standard carefully scrutinises projects for their impacts toward the <a href="https://sdgs.un.org/goals" target="_blank" rel="noopener">UN Sustainable Development Goals</a> (SDGs). The project’s SDVista Validation Reports (which can be found <a href="https://registry.verra.org/app/projectDetail/VCS/674" target="_blank" rel="noopener">here</a>) note substantial contributions to all 17 of the SDGs. 
Through this project, supported by the Ecologi community, land previously designated for being turned into palm oil plantations, which would have released carbon stored in the peat, soil, and trees into the atmosphere and would have destroyed the homes of many animals and plants, has instead been saved. The project is the largest in the world to protect High Conservation Value (HCV) tropical lowland peat swamp, and we are proud to be playing a role in its success.

<h3>Avoided Deforestation in the Brazilian Amazon Rainforest</h3>
Tropical rainforests are also rich in biodiversity, and their survival is critical if we are to prevent ecological collapse and keep global climatic systems stable. One project that Ecologi has supported that is protecting an area of such rainforest is in the Para state of Brazil. <a href="https://ecologi.com/projects/preserving-amazon-rainforest-in-brazil" target="_blank" rel="noopener">This REDD project</a> ensures the protection of over 27,000 hectares of rainforest previously designated for deforestation. By keeping this area of rainforest alive, the project is protecting the organisms that live there, as well as protecting the livelihoods of local communities. As such, this project is contributing towards Goal 8 of the UN’s SDGs &#8211; <a href="https://sdgs.un.org/goals/goal8" target="_blank" rel="noopener">Good Jobs and Economic Growth</a>, as well as <a href="https://sdgs.un.org/goals/goal13" target="_blank" rel="noopener">Goal 13 &#8211; Climate Action</a> (as every project Ecologi supports does), and <a href="https://sdgs.un.org/goals/goal15" target="_blank" rel="noopener">Goal 15 &#8211; Life on Land</a>.

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If you’d like to help amplify our impact on ecosystem restoration, <a href="https://ecologi.com/plan" target="_blank" rel="noopener">sign up to Ecologi today</a>!

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What is happening at COP28

This year’s annual Conference of the Parties (COP28) has begun, and at Ecologi we’ll be bringing 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.
This blog is your ‘go-to’ destination for all the latest updates from the summit. We’ll be posting regular updates from 30 November -12 December to keep you in the know.
What is COP28? Scroll down past our daily updates (or <a href="#whatiscop28">click here</a>) for a comprehensive guide to all things COP28.
What happened at COP27? <a href="https://ecologi.com/articles/blog/what-happened-at-cop27" target="_blank" rel="noopener">Read our blog</a> for a full report on the event in 2022.

COP28 - our daily updates

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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 🌍

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

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?
&nbsp;
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.
&nbsp;
What are your plans for COP28?
&nbsp;
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.

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>
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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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