January 2024
2023 was a year of transformation for SustainCERT. It was our fifth year of operating as a climate impact verifier - and a year in which we achieved the most significant milestones in our history.
This included becoming ISO accredited, delivering our largest ever capital raise, launching our verification services to the market for carbon markets & Scope 3, becoming a verifier for Verra’s VCS Program, and continuing to grow the reach and impact of the role of the Value Change Initiative in driving in Scope 3 action.
We could not have achieved any of this without the support of our clients, partners, investors and our amazing team of passionate climate experts. I want to thank them all for their commitment to us and to climate action – and promise I will continue fighting harder than ever in 2024 to deliver on our mission, to create digital verification solutions to bring credibility to climate action.
Reflecting on the year over the festive period, which had culminated in a roller-coaster COP 28, the concept of solemn satisfaction over leaders agreement to transition away from fossil fuels resonated with me. Solemn – as the stakes with the climate remain too high, the transition too slow. However, it is much needed progress and we should recognize that.
With regards to progress for voluntary carbon markets though, I looked back with frustration on a year of scrutiny over the markets’ credibility & integrity, which resulted in sharp carbon credit price declines and an uncertain outlook for 2024. The fact that that an agreement was not reached on Article 6 at COP 28 was a disappointing end. Climate change will not wait for red tape delays.
Ever the stubborn optimist though, I firmly believe that we have the knowledge, expertise and burning platform that means we must – and can - make 2024 the accelerator we need towards scalable, credible climate action.
How? Specifically for the markets in which we operate – the voluntary carbon market and Scope 3 – I believe 2024 can be a game changer if the ecosystem works together on what we have available right now.
Effective carbon markets are a vital component of this transition – to channel finance into climate action projects, including those in areas that sit outside of corporation value chains and have limited funding opportunities, such as forestry regeneration and clean cooking. To deliver this we should focus on:
With Scope 3 action – which are the largest, most complex and expensive emissions for a company to address – we urgently need more incentivization and collaboration to deliver. No Net Zero or decarbonization target will be achieved without addressing Scope 3 emissions. Supply chains in industries are deeply intertwined.
And to drive all of this, I strongly believe we need regenerative leadership and mindsets, steeped in humility, resilience and unwavering dedication. We can’t and don’t need to wait for perfect data, legislation and technology. We have enough today and should be honest that we will have better solutions tomorrow, next year and next decade. That is no excuse though not to start and make real progress today.
So my final plea for 2024 is – let’s simplify, be frank and practical. Rocket science will not fix climate change.
Action, collaboration, small steps and a big dose of reality can accelerate our progress. We have what we need today - let’s use it.