CNaught Perspectives

Welcome to the July edition of CNaught Perspectives! This month, we cover key company updates, blog highlights, VCM news, and a roundup of newsletters and podcasts to keep you informed about the latest in sustainability.

Company Updates

Capping Orphaned Oil Wells

CEO Mark Chen joined the Well Done Foundation in Montana to cap orphaned oil wells, preventing methane from continuing to leak into the atmosphere. Methane is 28 times more potent than CO2 over a 100-year period. While reducing CO2 emissions is vital for limiting warming to 1.5°C, addressing methane and other greenhouse gas emissions is also essential.?Orphaned oil wells also lead to widespread environmental contamination, so capping them has the added benefit of making an immediate impact on the health and well-being of local communities and wildlife.

Corporate Sustainability Networking Opportunities

The CNaught team hosted a corporate sustainability dinner in Seattle this month to bring together sustainability experts, climate scientists, and corporate leaders to discuss the most pressing topics facing corporate sustainability. With 2024 projected to be the warmest year on record, such discussions are crucial for tackling climate change.

If you’re interested in joining a sustainability dinner, or hosting one with us, let us know. We’d love to continue the conversation in other cities.

Want to chat with our team? Schedule time here.

Insights from Our Blog

?? SBTi’s Latest on Carbon Credits

This week, the Science Based Targets Initiative (SBTi), the leading organization helping companies set science-based emissions reduction targets, released several reports. These reports covered their review of the efficacy of carbon credits and their latest thinking on scope 3 target setting. Unfortunately, their review simply summarizes already known challenges with carbon credits that many in the industry, including ratings agencies and CNaught, are taking on. SBTi does not provide any near-term guidance on how companies can use carbon credits to achieve net zero targets. SBTi did indicate that they may consider a scenario for using high-integrity carbon credits as a tool for scope 3 decarbonization efforts, giving us a glimmer of hope. But that guidance will not be released until late 2025 at the earliest. We are disappointed by the continued uncertainty during a time when climate action is critical. Read our full analysis here.

?? Are CCP Labels All That a Buyer Needs?

To simplify the buying process, the Integrity Council for the Voluntary Carbon Market (ICVCM) recently announced the first carbon-crediting methodologies adhering to its Core Carbon Principles (CCPs). While these labels improve the chances of selecting high-integrity carbon credits, they don't guarantee quality. Buyers should still conduct thorough project-level due diligence. At CNaught, we handle that due diligence for you. Read more on CCP labels here.?

?? More Flexible Options for Tailoring Portfolios

We know companies may have specific requirements when purchasing carbon credits, such as working towards certifications like Climate Active or Climate Neutral, or having preferences for vintage or particular geographies. To meet these needs, we now offer customizable portfolios, allowing companies to use these tailored solutions without the hassle of identifying, verifying, and sourcing high-quality projects. Read more about our flexible portfolio options here.

Sustainability Newsletters and Podcasts?

Green Builder Media’s weekly Vantage Newsletter: Their weekly newsletter provides the latest in green building news and trends in sustainable home building.

Trellis Briefing: Trellis, formerly GreenBiz, provides a newsletter every Monday to Thursday that includes case studies, opinions from experts, and news from the corporate sustainability world.

The Week in Sustainability podcast: the sustainability team from Workiva, formerly Sustain.Life, offers commentary about timely sustainability issues and stories.?

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