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When it comes to the impact of fires on carbon projects, fire can reverse abatement and sequestration, posing a primary risk to projects that requires careful consideration, monitoring and evaluation.

GreenCollar has an extensive fire monitoring program in place, which means we are well placed to work with our land manager partners in the event of a potential fire. So how big a risk is fire? And how can the risk be effectively managed? GreenCollar Monitoring Coordinator, Silas Darnell explains: 

Working together

“Fire is one of the most significant risks for any vegetation in Australia,” he said. “When dealing with carbon projects, regardless of approach and methodology, risk management is a shared responsibility between land managers and project managers.”

He said that generally, land managers undertake on-ground management, including preventative measures and firefighting as needed.

“Practical measures that manage fuel loads, such as managed grazing, clearing along fence lines and implementing fire breaks are all things that are part of good land management, so they naturally apply to properties where carbon projects are in place.

“Where we as the project manager get involved is in the monitoring and evaluation aspect. We look at what is happening on the ground and run modelling to determine the impact of a particular fire on the projected outcomes of an individual project.”

Mr Darnell explained GreenCollar has a remote daily hotspot approach in place to monitor fires across Australia.

“Using satellite data through the Digital Earth Australia system run by the Australian government, we can detect fairly well any fire in Australia, with updates every 24 hours.”

“We then download the data and compare it across the boundaries of our projects. Where hotspots are picked up on a project – and a fire might not be one hotspot, but thousands of hotspots – we can then start to assess the seriousness of the fire.”

He said the assessment takes into account some known shortcomings of the system.

“Sometimes there can be false positives with satellite detection, and certain things like huge smoke plumes or clouds might obscure fires, or it’s possible that fires may miss detection. Generally, however, it is fairly accurate and gives us a good starting point.”

Mr Darnell said that the ongoing relationships built between the GreenCollar Project Partnership team and land manager partners were even more important than the detection system.

“Strong working relationships are important because land managers ideally alert us if there is a fire, or notify us if they are going to do any burning. We can then compare our data to what they are seeing on the ground and ensure we have an accurate picture of the severity of the fire.”

In the event of a fire, the team at GreenCollar and the land manager will be in very close contact, but there are also fire prevention measures in place with the team working with land managers to stay informed on fire risk management and look at things like the fuel load and fire break maintenance on a quarterly basis.

Understanding fire risk

Mr Darnell said the Seasonal Fire Risk update published quarterly by the National Council for Fire and Emergency Services is also used as a resource to share with land managers.

“This report is based on climate data and is compartmentalised into states and areas within states. We look at the seasonal data and weather projections, then get in touch with land managers and talk to them about the likely fire risk in their area. In most cases, land managers already have an eye on the situation, but it is a good way to start the conversation and consider the impact on a particular project.”

While remote sensing data plays an important role in fire risk management, GreenCollar doesn’t just rely on remote monitoring, preferring to have teams in the field year-round collecting data and monitoring fuel loads to assess overall fire risk. This on-ground data feeds back into land and fire risk management decisions.

Mr Darnell said different projects have different rules around approaching fire and using fire as a management tool through prescribed burning (this covers controlled burns undertaken for hazard reduction or ecological reasons).  

“Using fire to reduce the fuel load is permissible within certain projects, but it is up to the land manager to determine if this is appropriate. Burning in this way does negatively impact the abatement and therefore the number of Australian Carbon Credit Units (ACCUs) issued to a project, but the land manager may assess a small cut in the number of ACCUs issued is preferable to having a more severe impact in a wildfire.”

“Within all the methodologies, there are ways to account for fire within a project. In methodologies like human-induced regeneration, the fire is added to the model to assess the impact.

“When there is a fire on a project, we will map it using satellite and aerial imagery and maps from the land manager to determine the boundaries and extent of the fire. We can then map the fire area and compare it to the carbon project areas on the property to determine how much of the project is impacted. From there, we determine the severity of the fire, calculate the estimated mortality of trees and update our model inputs from there.”

He said the initial development process for the project would have determined the vegetation types within the project areas – known collectively as the carbon estimation area.

“Once we have all the data on the fire, we go away and look at the literature on how fire impacts those specific vegetation types and then work out the severity of the fire and the predicted impact.”

“In our modelling, we can then work out the change in abatement. For an avoided deforestation project, it could be that a bad burn would take an area out if there was no longer forest. But if the assessment suggests the area still has forest cover after the fire, then it would be able to hold the abatement at the originally projected level.”

“Carbon projects have a minimum life span of 25 years, so the bottom line with fire is that it can almost certainly change the abatement, but it’s not necessarily going to end the project.”

Nationwide variation

In terms of the impact of fires on carbon projects, Mr Darnell said there are a range of differences across the country.

“We have had projects in Western Australia heavily impacted over the last couple of years in the Gascoyne region, while in western New South Wales, it’s typically hard for that country to carry a significant fire because it’s quite arid.

“In Queensland, fire is more used as a management tool, and in a lot of northern Australia, particularly the far north, we can consider fires and the burn frequency in the models. So even at the start of calculating project potential, regular fires can be included in the modelling.”

He said that managed fires and hazard reduction burning typically causes a lot less change in abatement than a big wildfire.

“Some Queensland properties using fire regularly have told us about their burning, but it has been such a cool burn that the hotspot system hasn’t picked it up. This shows how differently a fire will move through the landscape, with moisture levels in vegetation and weather conditions causing a considerable variation in burn severity,” he said.

Long term data analysis

Mr Darnell said it was essential to remember that the whole carbon industry is relatively new, with most projects less than 20 years old.

“For some land managers involved with projects, we are only now seeing the first big wet cycle. The processes in some semi-arid areas move so slowly that they are facing a fire cycle that is less likely to be one or two years and more likely decades.

“With the expansion of carbon projects, we have the advantage of collecting huge datasets that will, over time, assist us in answering questions about how fire impacts the ecology of different areas of Australia.”

Mr Darnell said his role was to work with the GreenCollar Project Partnership team and provide land managers with information that helps them understand and manage fire within their operational structure.

“I think the most useful information we can provide is an explanation of our processes, highlight case studies of how fires might affect abatement and undertake property modelling for individual properties if requested.”

“Once a project is up and running, a lot of work is undertaken to verify and monitor its performance against the methodology being used. Fire is just one aspect that can impact the overall success; however, from a land managers perspective, GreenCollar is there to assist with information to help build some robust risk management processes.”

“There is no silver bullet in building effectiveness against fire, but if you combine our systems, such as hotspot detection and vegetation monitoring, with strong land manager relationships, we are doing all we can to deliver an effective process,” he said.

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In other words, climate action has started to go mainstream in the business world. But releasing greenhouse gas emissions into the atmosphere isn’t the only negative impact businesses have had – and reducing their carbon footprint isn’t the only way they can do good. Water quality, plastic waste, biodiversity and the health of natural ecosystems; these are all pressing environmental issues. And as with carbon emissions, corporations can play an important role in ensuring these challenges are properly addressed. 

Thankfully, businesses working to combat climate change don’t have to go it alone. A wide range of environmental market-based mechanisms are emerging to help meet (and even exceed) ESG goals, with carbon credits just one part of the solution.

In this article, we take a look at three new environmental markets that move beyond carbon. Each market focuses on a specific environmental issue, and provides a targeted, financially incentivised method to drive long-term behaviour change and put the environment on the balance sheet. 

Environmental markets that move beyond carbon.

Plastic Credits

For years, the production of disposable plastics has outstripped our ability to process them, making plastic pollution one of the most pressing environmental issues facing the planet. Technically, it’s solvable: people can use fewer plastics, we can recycle, and companies can reduce plastic waste from their value chains.

Unfortunately, zero plastic isn’t an overnight option for some industries yet. But that doesn’t mean they can’t take action. Enter Plastic Credits, an environmental market designed to help reduce plastic waste in the aggregate, while enabling those who can’t (yet) go without to take ownership of their plastic footprint and make a positive difference.

A single Plastic Credit is generated when a verified plastic waste producer is able to remove, reuse or recycle one tonne of plastic from the environment. Currently, GreenCollar is working with banana farmers in Far North Queensland to responsibly discard or recycle the single-use plastic covers they have traditionally used to protect banana bunches as they ripen. The more covers they remove and recycle, the more Plastic Credits they earn – and the more credits other companies can purchase to help meet their ESG goals. 

Reef Credits 

In 2019, the Great Barrier Reef’s long-term outlook was downgraded to “very poor” – and things haven’t improved much since. One of the causes is fine sediment and dissolved inorganic nitrogen flowing into the reef from farmland across Queensland. Despite farmers’ best efforts, changing land management practice can be an expensive business, which is exactly the problem the Reef Credits Scheme seeks to solve.

The first water quality market of its kind in the world, Reef Credits pay farmers and land managers to make changes in how they use and look after their land. These can be subtle, such as changing the way they apply fertiliser, or more intensive rehabilitation projects to restore gullies or establish wetlands that naturally filter sediment from runoff. Either way, they result in less pollutants reaching the Great Barrier Reef without impacting productivity of the land, creating local jobs, and netting farmers extra income for their efforts. 

Until last month, the Queensland Government was the largest buyer of Reef Credits. But Qantas has just committed $500,000 to purchase 20 per cent of all Reef Credits produced to date, paving the way for more businesses to invest in the health of the Great Barrier Reef. The bulk of the revenue made from the sale of Reef Credits goes straight to farmers, providing them with the additional income needed to make ongoing improvements to the land.

NaturePlus™ Credits

Biodiversity may well be the single most important aspect of a healthy planet. Everything, from the air we breathe and the food we eat, to the economy at large, relies on a great variety of plants, animals and microorganisms working in tandem to keep ecosystems in balance. 

It’s no surprise, then, that businesses are beginning to take biodiversity loss seriously. By investing in programs that protect natural habitats and strengthen biodiversity, companies can help ward off catastrophe, while simultaneously assuring investors and stakeholders that they’re addressing one of the largest environmental challenges facing the planet.

And we’re not talking about protecting a piece of forest over here so you can clear one over there. NaturePlus™ Credits are focused on additionality with a view to achieving ‘Nature Positive’ outcomes that will see ecological systems improving and rebuilding by 2030.

While most payments for biodiversity outcomes are based on actions that are carried out with a view to improving biodiversity in the future, NaturePlus™ Credits are only awarded to projects that have already delivered third-party audited and certified improvement in environmental condition. This means investment in NaturePlus™ Credits represents positive outcomes for nature. 

GreenCollar is running 20 NaturePlus™ pilot projects in Australia with a view to valuing and rewarding adaptive land management that delivers benefits for native ecosystems and species. The first credits are expected to come to market in early 2023.

Environmental markets: the way forward

According to a 2021 report by the UN Environment Programme, over AU$11 trillion worth of investments need to be made in nature-based projects by 2050 if the planet is to come out the other side of the interlinked climate, biodiversity and land degradation crises it currently faces. 

That sounds like a lot of money – and for any individual, it is. But with robust, science-backed environmental markets working to make investment in the environment that much smoother and more rewarding for companies, it’s not only an achievable goal, but a desirable one. 

The post Beyond carbon credits: Investing in multiple environmental markets to meet sustainability goals appeared first on GreenCollar.

They say the longest journeys start with a single step, but if people don’t have a reason or the courage to take that step, then nothing can be achieved.

When it comes to carbon projects, and integrating them into existing farms and farming practices, the journey itself can be part of the puzzle. Landholders can find that journey, from thinking about the issues to developing and finally implementing a strategy, long and arduous. But according to some, it is an easy enough puzzle to solve and well worth the effort.

Heather Cameron with daughter Zoe (left) and partner Popeye (right)

Heather Cameron is one such landholder, running a Merino sheep enterprise on Lower Lila Station, 84 km northwest of Bourke in New South Wales.

She admits when she started, it took considerable time and effort to come to grips with what could be done and how best to go about it.

“I was fortunate that I could access some local expertise, both in terms of someone who worked with GreenCollar, and other producers who had signed up to operate carbon projects in conjunction with their grazing operations.

“This local aspect, for me, was very beneficial. In the initial discussions, I was confident the GreenCollar representative knew the district, the country and how we operate. He helped me to understand the project and to get my head around some initial questions and concerns.

“In the end I could see that by making some environmental changes, I would gain an additional revenue stream and still maintain productive areas of the farm. The decision to go ahead simply made good sense.”

Peter and Edwina Ponder of Emaroo Station, 200km west of Bourke, have a similar story.

According to Peter, the catalyst that encouraged them to examine all their options was an extended period of exceptionally dry conditions.

“During the drought, we spent a lot of money feeding sheep, and we got to the point where we needed to find another source of income or sell the property and get out.”

The Ponder family

In a similar story to Heather, the Ponders started the discussion with someone they knew.

“While it was great that we knew someone, I don’t think it would have made an overall difference or changed the way we undertook the project. The important thing was some trusted input for that initial discussion, leading into the decision to go ahead.”

Heather and Peter stressed the need for landholders to actively seek information about carbon projects and then carefully consider how it applied to their area.

They suggested a broad understanding of how the carbon project could be positioned alongside existing operations, combined with sound legal and financial advice, was crucial to implementing a carbon agreement successfully.

Heather said even after reading through available information, she still had a long list of questions.

“Never be afraid to make enquiries because that is the only way to resolve questions and be comfortable with the steps required to make things work.”

Heather said that she had contacts with other groups but chose GreenCollar because the way it operated suited her approach.

“From my perspective, I wanted to work with someone that understood I was running a farming business, and I didn’t enjoy spending extra hours in the office keeping up with the paperwork side of the project operations.”

Having someone who could work cooperatively and allow her to get on with the core business was very appealing.

“The project has delivered a regular income and allowed me to put a strong foundation in my business. I have never been a big fan of grazing heavily, so the project has been established in line with my management approach, setting aside portions of the property for native forest and bushlands, and allowing me to run sheep on the remaining areas.”

“The great thing is the income flow has taken away some of that uncertainty, and I have managed to employ more people. I have also invested some of the project money into establishing some cabins along the river as part of an environmental tourism project, which is exciting for me.”

The partnership approach was also an essential aspect for Peter.

“The task of establishing a carbon project is quite complex, and I have no idea how you would even go about it on your own.”

“We did our initial research and reading, but without working in partnership with someone you trust, it would be reasonably difficult and daunting.

“After our initial consultations, we had representatives from GreenCollar come out and do their satellite imaging and ‘ground-truth’ the possibilities. They were here on the property for a couple of weeks and had determined the spots they needed to check via GPS coordinates. The process did not intrude on our operations and allowed us to determine the way forward.

“Once they knew what we had, we then sat down, and we took out some country which wasn’t useful in the project proposal, such as the holding paddocks and other areas we regularly use.”

He said that while there was no trouble with the process, it did take time.

While more information is available now, there is still a lack of understanding around the carbon trading business, and for busy producers and landholders, this is often a significant hurdle to overcome.

As Peter described it, when your primary occupation is grazing cattle, sheep or goats, there is not necessarily time for producers to delve into and understand the complexities of carbon trading and how it could make a difference to the business.

“It’s a bit like share trading – you can certainly do it yourself, but if you haven’t got the time and it’s not your primary expertise, the best option is to go with someone who has that experience and who can work with you to deliver results.”

The strong relationship and the sense of partnership have provided reassurance about how the projects operate.

The Ponders are now six years into a 25-year scheme and are happy with how things are progressing.

According to Peter, the length of time was a choice based on a plan to sell the property after years of drought.

“We thought the time frame would allow any in-coming purchasers to consider their options, but we are currently going well. Getting into the carbon business has allowed us to stock lightly; with the carbon credits, we are not pushing as hard to make an income.”

Heather Cameron opted for a 100-year scheme.

“I could not see any harm in it, to be honest, and I like the idea of protecting the property with moderate grazing pressure so that it can be passed down from generation to generation in good condition.”

The partnership with GreenCollar has provided reassurance and confidence in the way forward.

“I would encourage others to consider their options and carefully assess how to get involved.”

While information is available, Heather said she found personal discussions, information days and visual information beneficial.

“Property owners like to work alongside people who understand how they do business. While explanations are important, they are used to visually examining their animals and landscape, so they also need to see firsthand how things will operate.”

There is no doubt that landholders face a long and complex journey to establish a carbon project. But with the correct information and support, it is possible to deliver projects that allow landholders to make informed decisions and implement flexible approaches that support their land and, critically, their business operations.

The post Top tips from landholders: how to integrate a carbon project into your agribusiness appeared first on GreenCollar.

Sustainable Development Goals & the Business Perspective

Importantly, the SDGs present a strong policy signal for businesses to shift towards more sustainable practices or be left behind. According to a 2019 study conducted by UN Global Compact and Accenture, 87% of CEOs believe the SDGs provide an opportunity to rethink approaches to sustainable value creation and 48% of CEOs are implementing sustainability into their operations. 

In the past, sustainability was often viewed as a peripheral “green” issue; however, it is now seen as a challenge that can limit their potential to grow and ability to operate. On a global scale, challenges include a diminished critical natural resource base, economic inequities that limit local purchasing power, and a lack of quality workforce due to limited education and health resources.

With the increasingly globalised world, businesses must also address increasing urbanisation, changing consumer preferences, evolving investor perspectives, and weak financial markets. SDGs provide a framework for adopting business policies that achieve better outcomes. Sustainability practices, in particular, focus on corporations generating wealth while conducting their businesses without negatively impacting the environment, society, and the economy generally. However, businesses’ corporate sustainability strategies now need to focus on making a positive impact on at least one core one area: improving the environment and/or society. 

Companies are often interested in many SDGs, but many of them end up “cherry picking” the SDGs relevant to their business operations; rather than addressing all 17 SDGs. Typically three SDGs out of the 17 are most popular for implementation, because they have the most direct (and obvious) impacts on business. 

• Goal 8: Economic Growth and Decent Work to promote sustained, inclusive, and sustainable economic growth, full and productive employment, and decent work for all.
• Goal 12: Responsible consumption and production to ensure sustainable consumption and production patterns.
• Goal 13: Climate Action to take urgent action to combat climate and its impacts.

However, companies will need to think a little creatively about addressing other SDGs, such as Goal 2: Zero Hunger or Goal 3: Good Health and Well-Being, and how to address these throughout their business practices. It could be with volunteer programs, donations to a non-profit, or building a medical clinic in an area where they operate. Also, companies have opportunities to invest in or start businesses that focus on other environmental causes besides climate change, such as protecting or restoring forests, reefs, and wetlands, and supporting the transition to regenerative agriculture, which address the SDGs Goal 7: Affordable and Clean Energy, Goal 14: Life Below Water and Goal 15: Life on Land. 

Where SDGs and ESG meet for better corporate sustainability practices

Currently, SDGs are the leading policy framework for companies to implement sustainability initiatives into their operations. SDGs build upon corporate sustainability to encompass and define key criteria for improving business practices to be more conscious of the environment, ensure resilient supply chains, and maintain license to operate within their communities. Some of the SDG metrics include the amount of carbon emissions offset through the purchase of carbon credits, or the number of workers trained on new skills for their employment. Businesses can also tap into a number of international data platforms to determine how well they are doing with implementing SDGs and whether their programs are effective. They set out key criteria by which businesses can define and measure improvements, especially for those companies aiming for Environmental, Social, and Governance (ESG) performance targets. 

SDGs enable companies to be more proactive in creating long-term and equitable development for business, society, and the environment. Many companies have pivoted towards incorporating ESG issues into their business practices to attract investment.  These ESG metrics are being used by investors today, more than ever before, for financing considerations, which include indicators that measure an organisation’s ethical impact and sustainability practices. Investors look towards a company’s carbon footprint, water usage, net zero strategy, community development programs, board diversity, and transparency in decision making.

How businesses can apply the SDGs in their practices

Organisations can incorporate SDGs into a number of business activities and strategies, such as for decision-making purposes or evaluating supply chains. According to PwC, 71% of global businesses surveyed  have already started to act on how to implement the SDGs in their practices. Yet, most organisations are struggling to classify what SDG-relevant tools are needed, such as impact assessments or geo-spatial mapping tools, with only 13% identifying tools to use and only 29% of businesses have set goals. 

Here are some actions that business can take now to incorporate SDGs into their business plan.

• Choose the SDGs most important to the organisation. According to KPMG, 84% of top companies have identified the SDGs that are most relevant to their business. However, not all businesses will be able to implement each one of the SDGs (and their sub-targets), so developing a strategy around at least one, such as SDG No. 13: Climate Action, and picking a relevant project, like regenerating native forests that sequester carbon, can help jumpstart the SDG journey. Once the goals are identified, they can be linked to specific business activities and integrated into corporate strategies. Businesses can define their priorities by considering which SDGs will have the biggest impact in terms of risk, opportunity, and reward over the medium- and long-terms, such as addressing inequality due to business impacts (SGD No. 10) or reducing single-use plastic waste  (SDG Nos. 13 and 14) as part of a corporate sustainability plan.

•  Develop SDG targets and KPIs. The 17 SDGs have 169 accompanying targets aimed at achieving specific goals. Once the company has identified their priority SDGs, it will need to develop a strategy to implement associated targets as well as establish its key performance indicators (KPIs) to monitor and communicate progress. For existing targets and reporting metrics already in place, these should also be aligned with the new KPIs to ensure they work towards SDG goals.

• Communicate and educate stakeholders about SDGs. Knowledge of SDGs in the business community is relatively high at 92%, but the general population is much lower at 33% awareness of SDGs. Businesses, therefore, can include communication and education campaigns in their marketing and operational practices to help inform stakeholders about SDGs and how they are acting to implement them. The demand is there—citizens want businesses to adopt SDGs. 90% of consumers surveyed believe that businesses should adopt the SDGs and 78% would more likely to spend their money on goods and services from these companies.

• Examine current business operations. Current corporate sustainability and business strategies should be examined to determine whether or not they align with SDGs. Companies can identify which business models can be adjusted to account for these new targets and what new products or services to be developed. They can refocus innovation and research and development as well as determine what supply chains need to be changed. For example, SDGs No. 12 Responsible Consumption and Production, No. 13 Climate Action, No. 14 Life Below Water and No. 15 Life on Land are often associated with supply chains. Further, companies can realign sustainability strategies to achieve both corporate and SDGs-centered goals.

• Invest in climate mitigation. Companies are part of the global net-zero campaign to be carbon-neutral by 2050 (SDG No. 13: Climate Action). They can start by adopting, investing, and implementing climate mitigation practices into their organization. Some of these activities are as simple as installing energy-efficiency lightbulbs in their buildings, investing in carbon credits from quality projects, to investing in on-site renewable energy capabilities. High quality and high integrity carbon projects can help businesses achieve their multiple SDG targets and effectively offset their carbon emissions to mitigate climate change. Good projects address multiple SDGs, improving local economies, livelihoods, education, and ecosystems. However, businesses need to ensure that their carbon projects are certified so they have quantifiable, verifiable, and real greenhouse gas emissions reductions.

• Measuring and reporting. As SDGs become the norm, businesses will need to better measure and report their SDGs-focused KPIs. They will be held more accountable by investors, stakeholders, civil society actors, and shareholders. All business goals and targets should be linked to a specific SDG and incorporated into the core business and reporting cycles, such as through mandatory disclosures, performance reviews, and even integrating SDGs into everyday business decisions.

Business benefits of aligning with the SDGs

Adopting SDGs into business practices can unleash a significant opportunity to combine purpose, profits, and sustainability.  By responding to global challenges, threats, and risks, companies can use the SDGs to turn them into business opportunities through their policy frameworks and reporting metrics.

• Expanding into new markets. According to the Business and Sustainable Development Commission report, Better Business Better World, business models related to the SDGs could open up opportunities worth up to US$12 trillion and increase employment up to 380 million jobs by 2030. As more global investment is directed towards meeting SDGs, new markets will be unlocked that focus on sustainable products, jobs, and technology. Sustainable markets involve those trying to reuse and recycle single-use plastics to avoid further carbon emissions as well as  land and ocean pollution; to improve water quality and quantity through green infrastructure and nature-based solutions; and promote biodiversity and ecosystem services through restoration of native forests, grasslands, and reefs.
• Using more resilient supply chains. Examining current supply chains with an SDG focus can help businesses utilise ones that are greener, sustainable, resilient, efficient, and more ethical and inclusive as well as streamlining operational efficiency to reduce costs and waste.
• Amplifying social and environmental impacts. With more holistic thinking, companies can have more effective social and environmental impacts in the communities where they operate as well as those who are impacted by their business operations. This aspect is crucial as part of maintaining social license to operate.
• More investment interest. Businesses that adopt SDGs will also spur new opportunities for investors interested in impact investing as well as opening up new channels of public and private financing, such as through green bonds which support reforestation or regeneration projects.
• Being ahead of the curve. As more countries adopt SDG-focused requirements, companies that have already integrated SDGs into their business practices will be ahead on any regulatory reporting requirements and managing risks.

Embedding Sustainability and SDGs into Corporate Strategies

Sustainability can drive innovation by providing a framework that promotes new business models which drive progress towards the SDGs and opportunities for future growth. Also, business can identify new partners within sectors and across different industries to enable organisations to scale up their efforts to reduce emissions, such as working with farmers to invest in regenerative agriculture projects or sourcing a new, less-carbon intensive material to make a better business product.

As businesses have become more aware of the need for sustainability and implementing the SDGs, the importance of building a  sustainable culture in organisations has never been greater. Businesses can develop their strategy that clearly outlines how sustainability (and the SDGs) is a key focus in all aspects of the organisation, from developing a new mission statement, to complex business decision-making incorporating sustainability goals, to human resources management and sustainability KPI reporting. Incorporating sustainability into business practices enables companies to inspect all aspects of their operations, including how they think about their supply chain from purchasing to sourcing, implementing water and electricity conservation and recycling, implementing safer chemical management, buying energy efficiency products, and even employee training for work and lifestyle changes to reduce their carbon footprint.

Sustainability and the SDGs offer businesses many opportunities to streamline their operations to use less resources, expand into new markets, attract new talent, address risks in supply chains, build social capital in communities where they operate, and obtain new finance and investment flows. Companies around the world have a significant role to play to implement the SDGs and become better global actors to improve profits, people, and the planet. It all starts with a plan and innovative thinking.

The post What are the SDGs and how to use them to guide your sustainability strategy appeared first on GreenCollar.

Last year, the Australian Institute reported that 75% of Australians are concerned about climate change – an all-time high for the nation. With mounting public concern, businesses are under pressure to improve their environmental impact. A strong stance on sustainability has become a key differentiator for businesses looking to attract quality talent, maintain a respected brand and mitigate legislative risks.

More and more companies are drawing a line in the sand and declaring a net zero emissions target. But promises are one thing and practice is another. As businesses look to reduce emissions through their value chains and offset what they can’t reduce, it is increasingly important to consider the integrity of credit providers and the quality of the credits themselves. Businesses need to ensure that their environmental commitments remain credible in an increasingly discerning market.

Trusted partners

For a responsible corporate, the environmental credits market can be difficult to navigate. Buyers need assurance that they are investing in legitimate solutions and not falling prey to greenwashing and empty claims. Corporates that are looking to meaningfully change their standing on Environmental, Societal and Governance (ESG) issues, need to look for trustworthy partners.

Principled credit providers can help buyers minimise, or even begin to reverse their environmental impact, and mitigate investment risk by helping them invest in credits from high quality projects. Additionally, partnerships with trusted providers can lend additional credibility to ESG efforts, bolstering marketing initiatives and standing up to public scrutiny. In order to find such partners, businesses need to look for proof of integrity from their credit providers, and interrogate their project development or credit sourcing process, in particular, how they measure and monitor the impact of their projects.

External validators such as certifications and accreditations can help verify that a provider already meets and maintains high standards. B Corp certification, for example, is a designation that a business meets verified standards of performance, accountability and transparency on both social and environmental factors. Certified B Corps, like GreenCollar, have passed a rigorous accreditation process and are transparent about their performance, making it publicly available on their B Corp profile. By seeking an independently verified credit provider, investors can be more confident in the integrity of their provider and the products they offer.

Investors can also look to third party audit records for assurance of quality.

All projects issued Australian Carbon Credit Units (ACCUs) under the Emissions Reduction Fund must successfully complete third-party auditing and verification. Responsible investors can look into a developers’ success rate as an indicator of how rigorously they control project quality. 

Quality credit providers will also be happy to share details on project monitoring processes. For example, GreenCollar validates initial carbon assessments with on-ground field work to set project baselines rather than relying on satellite imagery. Projects are monitored daily for fire and drought indicators and undergo change detection and canopy assessments to ensure continuing regeneration of vegetation. Quarterly landholder interviews qualify delivery of project actions, and outcomes are tracked through regular on-ground monitoring throughout the project lifetime.

Projects that perform

A trustworthy credit provider goes a long way in ESG investing, but buyers also need to do their due diligence on the credits they purchase. Carbon credits are underpinned by many different types of projects and investors should seek out credits with high-quality outcomes to maximise their ESG impact.

At GreenCollar, we partner with farmers, graziers, Traditional Owners and land managers to deliver projects with a variety of ESG benefits. We develop projects that are specifically designed to deliver additional social, cultural, economic and environmental gains over and above a specific credit. Our carbon credit projects are not limited to carbon sequestration, but also work to protect and regenerate native vegetation, provide safe habitats for native fauna, mitigate fire risk, improve drought resilience and invest in local communities through job creation.

GreenCollar project outcomes are also structured to be measured and verified. We value project integrity because it helps underpin high-quality carbon credits by providing investors with clear, measured and verified outcomes, and tangible impact stories.

As the carbon credit market expands, it is increasingly important for investors to seek out quality credits and sound projects. Businesses should be looking to invest in credits and projects with a range of impactful ESG benefits and transparent performance metrics.

Investing in outcomes

Trusted credit providers and verified projects can help businesses get bang for the buck – building strong sustainability credentials and mitigating risk in environmental markets. But ultimately, the goal of carbon credits and ESG investing is to have a positive impact on the environment and reduce climate risk.

Environmental credit markets should provide financial incentives for long-term behavioural change. To ensure their investment is delivering on this, investors need to also operate with integrity, seeking partners and projects with real merit and benefit. Not all carbon credits are equal, but credit should always go where it is due. 

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What are Plastic Credits? 

A Plastic Credit is an auditable unit of plastic reduction: ie. a measurable amount of plastic either collected from the environment, or recycled into a new product.

Plastic Credits can be purchased by companies who have exhausted all other avenues for reducing their plastic use (for example, by switching to more sustainable packaging) to mitigate the final portion of their plastic footprint. Businesses looking to remove plastic waste from the environment at scale can also earn and sell Plastic Credits on the plastic offsets market.

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How are Plastic Credits measured? 

For businesses seeking to buy Plastic Credits, the volume of Credits purchased is based on the size of the company’s plastic footprint. These companies can achieve their plastic reduction targets by calculating their plastic footprint, reducing that footprint and purchasing a weight of Plastic Credits (measured in tonnes) equivalent to the weight of plastic they are unable to directly reduce.

While Plastic Credits are measured by weight, they are further distinguished into ‘collection’ and ‘recycling’ units based on the method of plastic waste removal.

Collection represents the environmental service of recovering one tonne of waste from the environment and directing it to an appropriate final destination such as secure landfill, mechanical or chemical recycling, or energy recovery. Recycling represents the environmental service of converting that tonne of plastic into a useful new product.

The number of Plastic Credits issued is based on how much plastic has been collected or recycled above the amount that would have been collected or recycled had the project not taken place. (Which is to say, Verra only counts how much plastic has been reduced or removed above what’s known as the “baseline rate”. Businesses can’t claim credit for reduction that would have happened anyway).

What is the new Plastic Waste Reduction Standard?

The Plastic Waste Reduction Standard is the market mechanism established to incentivise this offsetting and increase plastic collection and recycling globally. (It also sets out the rules and requirements a project needs to follow in order to be certified.)

Plastic Credits form a new ‘currency’ for what is well-known as the 3R Initiative. The 3Rs represent the goals of the enterprise – to Reduce, Recover and Recycle plastics worldwide through a crediting scheme and regulated corporate targets.

Developed by Verra and fellow non-profit BVRio – with the backing of major food packaging companies including Danone, Tetra Pak and Nestle – the Standard enables companies to measure their waste recovery efforts and monitor their plastic footprint through a streamlined, quantifiable and widely-recognised global standard. It’s a welcome initiative that provides a framework to validate, credit and finance waste recycling and recovery projects that tackle this pervasive environmental problem head-on.

Click here to learn more about GreenCollar’s part in this ground-breaking new initiative or click here to register interest in purchasing these Australian-first credits.

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Integrated carbon farming methods might sound like a mouthful. But the concept is actually (relatively) simple. Until now, land managers looking to participate in the Emissions Reduction Fund (ERF) have mostly been forced into a ‘one property, one activity, one method’ approach to carbon abatement. This encouraged them to apply a single carbon abatement method – say, Avoided Deforestation – to their land, for which they received Australian Carbon Credit Units (ACCUs). Technically, there was nothing to stop them from applying other carbon farming methods to their property. But there were no incentives, either. In fact, there were multiple disincentives.

Take a grazier running a Soil Carbon method on a standard 600-hectare farm. Over the course of the project’s 25-year life, that grazier would need to generate 269 monthly reports for a return of around 25,000 ACCUs. If that same grazier added an additional method – say, Beef Herding – they’d double their reporting requirements, but only pocket an extra 12% in ACCUs. Hardly bang for their buck.

As a result, there has been no real impetus for land managers to maximise their environmental practices and realise the true carbon potential of their land. The status quo encourages managers to participate in the abatement method with the highest return, and ignore the others. (Or pursue them at their own cost.)

But now, change is on the horizon. In August of this year, the ​​Carbon Market Institute’s Landscape Taskforce (co-chaired by Dr Jenny Sinclair, GreenCollar’s Chief Scientist) submitted an Integrated Farm method to the Federal Government. Developed in consultation with agricultural, technology, financial, and conservation organisations, the blueprint detailed the benefits of integrated carbon farming methods to both land managers and the carbon market.

Put simply, the Integrated Farm method will allow land managers to employ multiple carbon abatement methods across a single property, making the most of its carbon farming potential while keeping the administrative burden to a minimum. (ie. No matter how many methods you use, you’d only ever have to fill out one batch of paperwork. But the extra credits will be all yours.) This practice, also known as ‘method stacking’, would enable more land managers and Traditional Owners to participate in the carbon market, and increase the environmental, social and economic outcomes of each property.

On October 1, 2021, the Australian Government announced its support for formally developing method stacking as part of a suite of new priorities to be developed by the Clean Energy Regulator over the next 12 months. The method is expected to be implemented in 2023.

The announcement heralds a new era in the Australian carbon market. It will also let ACCUs more accurately reflect what’s already happening on the ground, granting carbon credits where carbon credits are due – namely, for every carbon abatement method used, not just the first one you happened to register for.

Along with the government’s other suite of changes, which include savanna fire management and carbon capture use and storage, method stacking will enable more land managers and Traditional Owners to adopt more and more carbon farming methods, further shifting us towards net zero while delivering a significant boost to carbon credit supply for the market.

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