See you at London Climate Action Week next week?

If you haven’t seen them already, it’s worth checking out David Antonioli’s report chapters on carbon markets. We also enjoyed Oxford University’s report - Governing Net Zero - Assessing convergence and gaps in the voluntary standards and guidance landscape. We’re looking forward to the climate and nature community descending on London next week for London Climate Action Week. If you’re in town and at a loose end between events, please do reach out. Otherwise, hoping we cross paths throughout the week. Please read on for more news and reports.

Newsflash

• FT publishes an article by Mark Carney urging G20 countries to stop debating and to start building a high-integrity carbon market.
• WEF looks at the role a high-integrity VCM can play in reaching global net zero and what needs to change in order to build trust in the market.
• Bloomberg reports that Wall Street backers see signs of a turn around for the VCM following recent endorsements.
• AFF, TNC, WCS, CI, EDF, and Fauna & Flora sent a joint open letter to SBTi expressing their support of carbon credit use for scope 3 emissions abatement.
• Carbon Pulse interviews Octopus Investments to look at the firm’s mixed approach to natural capital strategy.
• Carbon Pulse covers VCMI’s partnership with vulnerable countries to broaden access to carbon finance.
• Carbon Pulse looks at growing interest in removals, but cautions that reduction credits still have a role to play.
• Reuters reports that the World Bank will issue a new bond expected to raise $200 million to support reforestation in Brazil's Amazon.
• Carbon Pulse reports on a new insurance that protects carbon credits from  political and extreme weather risks.
• VCMI announces that Natura is the first emerging market business to make a Carbon Integrity Platinum Claim. Also covered by Carbon Pulse.
• Mongabay covers a study suggesting that the loss of plants could release vast amounts of carbon into the atmosphere.
• ESG Today covers the announcement that the EU has reached common ground on green corporate claims, providing clarity with a new definition for climate-related claims.
• Ecosystem Marketplace publishes Everland's opinion on why nested projects will be crucial for effective jurisdictional REDD+ programs.

Don't miss this report

The State of Corporate Climate Commitment

What's new? Carbon Direct has published a report on 14 findings that reveal how businesses are prioritising climate action.

What does it tell us? That companies are being selective in how many goals they implement to try to reduce their climate impact. 83% percent say they are focusing on three or fewer sustainability initiatives. 

What actions are companies taking? 

Beyond reducing energy consumption and shifting to renewables, respondents identified the following actions aimed at addressing their carbon emissions.

• 38% are purchasing carbon credits to address harder-to-abate emissions.
• 33% are trying to reduce business travel.
• 32% are prioritising sustainable vendors in their supply chain.

What questions does the report answer?

• Are companies taking, or planning to take climate action?
• What climate action looks like
• What is motivating companies and their leaders to act?
• What it will take to get more companies to accelerate climate action?

Read the report here.

News from the field

Find out the latest news from our flagship portfolio projects

US$5.7 million shared with the communities of the Ntakata Mountains Project

Carbon Tanzania celebrated World Environment day with the Vice-President of Tanzania when he handed over a cheque to their community partners in the Ntakata Mountains project. The cheque covers the communities earnings from carbon credit sales over 2023 and was worth 14.25 billion Tanzanian shillings, the equivalent of US$5.7 million.

Dates for the diary

• 22-30 Jun, London Climate Action Week, London
• 26 Jun, The Nature Positive Hub, Nature4Climate, London
• 25-26 Jun, Reset Connect 24 at London Climate Action Week, London
• 25-27 LACS, IETA, Cartagena
• 26-27 June, Groundswell Regenerative Agriculture, Hertfordshire
• 28 Jun, ICE, Carbonomics unplugged: A hitchhiker’s guide to a net zero galaxy (our CEO, Ana, will be speaking)

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Respira International is an impact-driven carbon finance business. Respira’s high-quality carbon credits allow corporations and financial institutions to mitigate their environmental impact. Respira channels private capital into climate solutions ensuring long-term relationships with trusted carbon project developers that enable its clients to use predominantly nature-based solutions to build sustainable, climate-positive businesses and portfolios. Respira’s team combines deep and varied experience working in global financial markets with a robust understanding of carbon project development in leading international conservation organisations. Respira operates with an innovative offtake and profit share model which reinvests back into local communities.