Sustainable Progress #29 | Carbon Insetting vs. Offsetting, Sustainable Health & Beauty, Decarbonizing Maritime, and Sustainability Risk Management
Welcome to the 29th edition of Sustainable Progress by CarbonBetter. Subscribe to stay informed on sustainability news, as well as our latest blog posts and upcoming events.
In this edition, we cover the differences between carbon insetting and offsetting , explore sustainable choices in the health and beauty industry , examine the challenges of decarbonizing the ports and maritime sector , and discuss proactive sustainability risk management . We're wrapping up our 2023 Year in Review post, and we'll be releasing that soon. (Here's our 2022 Year in Review ). Have a great end of the year!
Here's the latest news and upcoming events:
NEWS
Carbon Insetting vs. Offsetting
By Nicole Sullivan , Director of Climate Services
Are you in the process of developing or implementing a strategy to reduce your company’s carbon footprint? Understanding the difference between carbon insetting and offsetting and how they can work together is essential to any carbon strategy and sustainability roadmap. While the concept of offsetting is widely recognized, insetting remains less defined and often misunderstood. Yet, it holds transformative potential for embedding sustainability into the core of business operations. In this article, we’ll share some of the pros and cons of each approach and how you can best navigate these options based on the level of cost and resources involved to equip you with the insights needed to make informed decisions that balance immediate environmental needs with sustainable, long-term planning.
Sustainable Choices in Health and Beauty: What Today's Consumer Expects
By Chrissy Brogan , Nicole Sullivan , Tori Chen — This article was written in collaboration between Glow and CarbonBetter.
Sustainability isn’t just good for the planet–it’s good for business as well. In 2021, the global clean beauty market was valued at around $6.5 billion, and is forecasted to grow to around $15.3 billion by 2028. This projected growth is partially driven by shifting consumer preferences, as most consumers report being willing to pay 35-40% more for a sustainable version of their usual Health and Beauty products. Revenue growth isn’t the only value lever for Health and Beauty companies investing in sustainability–there are various risk mitigation and cost savings benefits as companies build their resilience against the impacts of climate change. In this context, we define Health and Beauty as including, but not limited to, haircare, oral care, skincare, cosmetics, feminine hygiene, and over-the-counter medications.
Decarbonizing: Ports & Maritime
By Tori Chen , Climate Analyst
Although shipping is far less emissions intensive than other modes of freight transportation such as rail or truck, the sheer volume of maritime trade, which is over 10 billion tonnes of cargo every year, results in the ports and maritime sector accounting for around 3% of global greenhouse gas (GHG) emissions. Without sufficient timely action on emissions reduction, this figure could reach 17% by 2050. Earlier this year, the International Maritime Organization (IMO) revised and strengthened its GHG reduction targets to be compatible with the Paris Agreement’s aim to limit global warming to no more than 1.5°C above pre-industrial levels. In an effort to work towards these goals, several organizations and initiatives, such as the World Ports Sustainability Program (WPSP), have explored various operational, technology, and policy solutions to drive sustainability in the industry. All market participants should strive to have a strong understanding of the climate risks they face, their environmental footprints, and the strategies they can use to improve their relationship with the environment.
Sustainability Risk Management: Stay Ahead of the Curve
By Dominic Sung , Director of Business Development
Climate risk is financial risk. With a business landscape more volatile and uncertain than ever, risk management is an essential, often too invisible resource for so many companies. The sooner that businesses can address climate measurement and disclosure head-on, the more competitive and prepared they can be in navigating future regulatory, commercial, and reputational risks. In this blog post, we will explore the journey from basic, reactive risk management to a more resilient, proactive approach: one that minimizes value erosion while maximizing long-term value creation. We’ll also discuss the differences between proactive and reactive approaches to risk management, and the benefits of applying a formalized system to carbon emissions.
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EVENTS
Join Us for Our Next Climate Conversations Meetup!
DATE & TIME TBD—Join us for our next Climate Conversations meetup where you can discuss all things sustainability with people across industries. The first 30 attendees will receive a free drink ticket upon arrival! More details coming soon. Click below to make sure you get notified once we know more.
Thanks for reading! Stay tuned for the next edition of Sustainable Progress in two weeks. Feel free to contact us for any reason in the meantime.
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Tri Vo – President, CarbonBetter