Carbon Marketplace is now urging them to consider carbon credits to offset carbon emissions or to bank them when market prices are low.
In a challenging time for business, Carbon Marketplace experts have urged SMEs to make wise business decisions and consider carbon offsets when considering low prices, and to appeal to consumers who are moving towards environmentally-conscious business.
John Auckland, co-founder of JustCarbon, has revolutionized the way a platform where high-quality carbon removal assets create a simple marketplace for businesses to finance carbon offsetting projects, why businesses shouldn’t be late and shouldn’t work now. Outlines 6
“When talking to business owners, we’ve seen the idea that big businesses contribute more to emissions,” said John Auckland. % -53% of UK business emissions come from businesses with less than 249 employees, a huge 36% of total UK emissions ”.
Two-thirds of small businesses surveyed by SME Climate Center were concerned that they did not have the proper skills and knowledge to deal with the climate crisis.
But with the current rapid rise in business spending for multiple reasons, including the coronavirus epidemic and the consequences of inflation, and the growing challenge to SMEs, they have seen some businesses wonder why they should prioritize it.
One of the most important reasons is that the cost of offsetting your inevitable emissions with carbon credits is only going to increase. “Currently the price is around. Our token is $ 25 to offset a ton of carbon with JCR, but BNEF predicts that it will increase to $ 120 in the future. It would be wise to work now and buy to offset your current and future emissions when prices are low, and if you end up buying more than you need, these can be resold, ”says John. For an example of how affordable offsetting is now, a coffee roaster business (15 tons of roasting per year) would have to offset 31 tons per year (1) and at current prices it would be 16 616 a year.
Second, it is important to maintain competitive advantage and keep pace with the changing environment towards increasingly environmentally conscious customers. John said, “In the future it will be ideal for consumers to look for leading businesses in this field and avoid bad habits. Businesses can advertise and build on their business model. More businesses have the option to add carbon offsetting as part of their products or services.” Choosing and showing that customers are interested in receiving the option when offered. “
JustCarbon innovation involves offsetting emerging digital businesses that are becoming more relevant as these markets expand. They recently partnered with NFT Design Works (5) to help mitigate the carbon footprint of low NFT artwork known as New Zealand All Black Sir John Kirwan’s ‘The Tree’.
Finally, it is an advantage to go beyond the regulations in the pipeline. From 2019, the companies cited must report their global energy use and large businesses must disclose their annual UK energy use and greenhouse gas emissions (6). “For now, it’s voluntary for small businesses, but in the case of moving toward net zero, it’s likely that regulations will be extended in the future. That will be important. Because of carbon regulations and accounting, banks are starting to look across their loan portfolios, “said John.
“We aim to offer SMEs a clear solution to buy carbon credits to offset their carbon emissions. We are leading the market in a variety of ways – first by being accessible and by removing intermediation and friction from the process, allowing companies and individuals an easy way to offset their carbon footprint. Becoming a byword for quality and trust by ensuring the quality of every project or carbon credit transferred to our platform. Finally, and most importantly, the current market is not set up to help project developers – JustCarbon wants to contribute to higher-quality carbon removal projects by raising more funds and investments. “
JustCarbon outlines a step-by-step process on how to do this in practice:
Use a carbon calculator to calculate your emissions
There are several excellent calculators available online – look at Carbon Trust or JustCarbon Resources that will guide you through it. Calculate your Scope 1 (fuel consumption) and Scope 2 emissions (power consumption – electricity and gas). These two priorities – Scope 3 emission calculations are beyond the scope of this guide but are related to your supply chain and if you decide to calculate it you may need the help of another company as it may be more complicated than the general calculators above (see here for more). .
Find activity to reduce emissions
Starting the process of measuring your emissions can motivate you to start making changes and give you insights into where you can start to make an impact and ultimately save money. The UK Business Climate Hub has some great tips (see here)
Buy carbon credits to offset
Developers of high-quality carbon removal projects with JustCarbon can list their assets (tons of carbon removed) on the JustCarbon platform. These resources are represented by our JustCarbon Removal Token ─ JCR যা which holders can ‘retire’ or ‘burn’ to offset their inevitable carbon emissions. Basically, by purchasing a carbon credit or JCR, a business is financing a carbon reduction or removal project. The JustCarbon website goes through this process with you. So, if a business can’t help but emit seven tons of carbon, for example, they can retire / burn seven carbon credits / JCRs for being “carbon neutral” or more than seven “carbon negative”.