CNaught Perspectives: February 2024 Edition

Welcome to February’s edition of CNaught Perspectives. In this month’s edition, we share some company updates, the latest insights from our blog, and key articles to keep you up to date with the latest in the voluntary carbon market.?

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Company Updates

• Injy Johnstone and Oxford Net Zero just updated their seminal paper on Net Zero Aligned Offsetting, continuing to push buyers toward a diversified portfolio of quality carbon credits that includes increasing amounts of carbon removal over time. We are proud to have Injy as an advisor helping us continually drive more impact.
• We're proud to be supporting Thrive Home Builders with their carbon-free Panorama Home (in association with Pro Builder Media)."After conducting independent research on various options, Thrive selected CNaught to provide the carbon offsets using a flat price-per-ton purchase option of carbon credits as well as transparency on where and how the offsets would be utilized.'My hunch is that there is a lot of greenwashing going on with carbon offsets,' says Myers, 'so we have to look at something that is a legitimate and verified offset that can’t be sold several times.'"
• We went to Greenbiz24 where we got to talk to folks about concrete solutions they’re adopting to meet and accelerate their sustainability goals. While we were there, we offset conference attendees’ travel to Phoenix and provided numerous companies with customized carbon portfolio insights in our Carbon Credit Impact Reports. Read our key takeaways from the conference here. Hosting a large event or generally interested in offsetting your company’s business travel? Reach out to us, we can make it easy. Curious to get the same insights as major companies at Greenbiz? Fill out our form here.
• We’ll be at North American Carbon World in San Francisco next month. Let us know if you’ll be in town and want to connect on the latest in carbon markets and climate policy.?

Insights from Our Blog

• CANOPY, a CNaught customer, shares insights and advice gained along their journey to B Corp certification: 5 Tips for Getting Your B Corp Certification.
• How do you know whether your offsetting efforts are on the right track or in need of a course-correction? Here are some ideas about how you can evaluate your efforts: How To Know If You’re on the Right Track with Your Carbon Credit Strategy.?

News from the Carbon Markets

• Oxford Net Zero has updated their paper on Net Zero Aligned Offsetting, continuing to support a diversified portfolio of quality carbon credits that includes increasing amounts of carbon removal over time. The paper outlines four foundational pillars: “(1) Cut Emissions & Ensure Integrity: Implement best practices to reduce emissions, maintain credit integrity, and adapt strategies as standards evolve. (2) Transition to Carbon Removal: Shift towards carbon removals to counterbalance residual emissions, aiming for 100% carbon removal credits by 2050. (3) Ensure Durable Storage: Opt for removals with low risk of reversal, crucial for maintaining a net zero balance over centuries. (4) Support Innovation: Champion innovative approaches to achieve net zero, catalysing growth in the high-quality removals market.”
• While there’s been a trend towards higher-quality carbon credits in the VCM, there has also been an increase in certification schemes. These certifications are not operating under any consistent or streamlined set of standards and thus the VCM has become even more complicated to navigate.
• In an effort to continue to rebuild trust in the VCM, the Voluntary Carbon Markets Integrity Initiative has just started issuing carbon Integrity claims. Similar to what the article above outlines, while this is a step towards greater transparency in identifying high-quality carbon credits, it adds to the complexity of the market overall, making it even more difficult for buyers to understand what is quality.?

• The World Economic Forum emphasizes how high-quality natural climate solutions projects have a positive climate impact while also benefiting local communities. Highlighted in the article is the Katingan Mentaya Peatland Preservation, a project CNaught currently includes in our Impact Portfolio.
• The US has made major strides in efforts to cut emissions by 50-52% below 2005 levels by 2030, as set by the Paris Agreement. However, major efforts will still be needed to reach this goal. Here’s one overview of how the US can continue to use additional policies and decarbonization methods to stay on track.
• Methane ranks as the second most abundant greenhouse gas released from human activities, following CO2. Capping gas and methane leaks will be a key piece in reducing overall greenhouse gas emissions. Google and the Environmental Defense Fund have partnered to measure global methane emissions from oil and gas production with MethaneSAT.?

Within this ever-shifting landscape, CNaught can simplify the journey towards sustainability by alleviating the burden of navigating the complexity of the VCM. Respond to this email or reach out to us to explore how we provide a curated portfolio to meet your company’s sustainability aspirations.

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