The We Mean Business Coalition is bringing clarity to the voluntary carbon market by helping businesses who are unsure how to contribute, says CEO Maria Mendiluce
From inside an air-conditioned office, nature can feel far away. However, some leading companies know this is an illusion. They are recognising their success is highly dependent on the natural world and the protection and restoration of nature is essential to preserving a safe climate and stable environment where business can thrive.
A study from PWC revealed that 55% of global GDP is either moderately or highly dependent on nature. This is also true of 47% of companies listed on the London Stock Exchange. Never has it been so important for businesses to connect with the natural world. Globally, the planet is in crisis. We are in the midst of the world’s sixth mass extinction event, the first since the dinosaurs disappeared 65 million years ago. We have over-extracted our freshwater sources and are witnessing record-breaking wildfires. This is not a good environment for business.
But although corporate leaders clearly need a stable climate, this is not a one-way relationship. When professionals proactively include nature in their strategies, the world’s ecosystems can also benefit from business. The science says it would be impossible to avert the worst of the climate crisis without simultaneously investing in nature. However, there remains a colossal gap between the funding needed to conserve and restore nature and the financial flows currently underway.
As just one example, we’re $100-200bn short of the annual financing needed to meet the 2030 goals set out in the Kunming-Montreal Global Biodiversity Framework laid out at COP15.
Some forward-thinking companies are already leading the way in closing these huge gaps. In addition to directly cutting their greenhouse gas emissions, many compensate for the remainder with high-quality carbon credits purchased on the voluntary carbon markets (VCM). This has a dual purpose: it supports companies as they progress towards net zero while, at the same time, channeling finance to nature through carbon credits generated from conservation and restoration projects.
Open the VCM Knowledge Vault
However, the VCM can be confusing. Amid a sea of helpful and necessary regulation and guidance, many businesses simply don’t know where to start. But this needn’t be the case. It’s just a matter of knowing where to look. To solve this problem, We Mean Business Coalition has created a resource bank for business – the VCM Knowledge Vault. There are plenty of resources available to help business leaders navigate investments in the VCM. From the credit integrity-measuring Core Carbon Principles to the industry-standard guide to making green claims, the nature market doesn’t need to remain a mystery.
With reports, guidance, explainers and whitepapers, the VCM Knowledge Vault is your one-stop shop for guidance. Scale up your support of nature.
Further information
wemeanbusinesscoalition.org/VCM
