Business and Climate | 4 tips every business can benefit from when compensating for emissions
The added value of carbon mitigation
In today’s increasingly climate-conscious world, consumers are becoming more aware of the impact business has on the environment and many are opting to support brands that align with their values.
The added value for brands who choose to engage in carbon mitigation is nothing to scoff at, with a study conducted by Unilever revealing that one in three customers prefer buying from sustainable brands.
While compensating for emissions can be a relatively simple task, there are multiple ways in which you can save your brand time and effort, all while maximizing the impact of your carbon mitigation investment.
Below we list 4 tips any business can benefit from when compensating for emissions:
1. Establish your intention
Why does your business choose to engage in carbon mitigation?
While there are thousands of reasons to engage in carbon mitigation, it is important for your brand to begin by outlining the intention of your sustainability strategy.
Establishing an intention for your climate investment will give you clear a sense of purpose, and ensure that your brand’s sustainability efforts achieve the desired impact.
2. Knowledge is power
As with every other business decision, doing the appropriate research before engaging in carbon mitigation is vital for success.
In order to prevent unnecessary expenditure, both of time and money, informing yourself about the carbon market is an important first step in developing an effective carbon mitigation strategy.
How do I measure the total emissions of my business?
What is a carbon credit?
Why are some credits more expensive than others?
Asking these questions early on is essential to save your brand valuable time which could otherwise be better spent brainstorming creative ways to leverage your new climate-conscious image.
3. Not all carbon credits are born equal
A quick google search for “What is a carbon credit?” will outline the basic definition of what it represents, the mitigation of one ton of CO2.
The reality is that carbon credits can come from a variety of sources, some of which focus on offering large volumes at low prices, and others that focus on achieving maximum social impact for every credit sold.
Choosing the right carbon credit can mean benefiting local communities, fostering education initiatives, and even saving our forests, all of which go alongside the mitigation of one ton of CO2.
This presents the opportunity to add additional value to your brand which extends beyond carbon mitigation, allowing your business to convey a positive impact on both climate and community.
If you wish to learn more about the added value of carbon credits with a high social impact, check out this article from Gold Standard on why some credit prices vary.
4. Reduce emissions now, save money later
In order to achieve maximum impact on your carbon mitigation efforts, seeking ways in which to reduce your total emissions before choosing to purchase credits will create a more inherently green business model.
Cutting emissions usually means streamlining operations, which is another important factor to consider when engaging in emission mitigation. Streamlining operations often results in a more efficient business model, increased productivity, and reduced costs.
On top of these savings, you will also save money when purchasing carbon credits. Fewer emissions to mitigate means fewer carbon credits you will need to purchase. Furthermore, ensuring your business operates in an inherently more sustainable way will add value to your brand by cementing your climate-conscious image.
The bottom line
As customers all over the world become increasingly climate-conscious, engaging in carbon mitigation has become a popular strategy for brands seeking to add value to their business.
Keeping the tips outlined above in mind when engaging in carbon mitigation will go a long way in maximizing the added value of your climate investment, all while fostering a positive impact that stretches far beyond the removal of CO2 from our atmosphere.
Check out the Nicaforest page at Gold Standard to learn more about the added value of our reforestation project.
Do you have questions about the Nicaforest program or do you want to know more about how to compensate for CO2 emissions by purchasing Gold Standard carbon quotas?