Perspectives on the Voluntary Carbon Market discussed at Nature Broking’s joint event with Allied Offsets

On November 19th, Nature Broking held a joint networking and panel event with Allied Offsets to talk about “Perspectives on Corporate Activity in the Voluntary Carbon Market”.

The evening was a great success with natural wines and nibbles served alongside a lot of networking and discussion on climate and nature.

Tiffany Cheung from Allied Offsets was in the chair for the discussion along with panel guests: Paddy Linighan - Chief Sustainability Officer of Clyde & Co, Adrian Rimmer - Director, Sustainable Finance & Investment at London Stock Exchange Group and Nature Broking CEO, Luke Baldwin.

Some of the key takeaways from the panel were:

· All FTSE 100 businesses are either already or will have to engage with the carbon markets to meet their climate targets. On top of this it is likely that regulation will soon catch-up, making carbon credits no longer voluntary. As a result the market, mechanisms and financial instruments are getting more sophisticated to meet this expected professionalisation and demand.

· Risk is a key factor when purchasing carbon credits. Prices should be in part determined by the risks associated with the project including scientific calculations - whether the project is likely to deliver a tonne of CO2 reduced or removed from the atmosphere

· Building a portfolio of carbon removals now for a corporate’s net zero journey for a target year in the future can save a considerable outlay compared to buying spot credits in the net zero year itself. Accounting for carbon credits on a company’s balance sheet can turn them into an asset, rather than a cost.

· Building a compelling business case around the financial benefits is critical to scale the market and get climate action through boards.

· Building knowledge and education about the VCM is crucial for empowering decision makers within companies to act.

More such events are planned in the future.