Tag: 3BL

In this episode of ESG Talk, Sara Kappelmark, Co-CEO of Norrsken Foundation, and host Mandi McReynolds explore how startups are driving transformative change across industries. Sara shares insights from the foundation’s 2024 Impact 100 list, highlighting groundbreaking solutions in renewable energy, carbon-free cement, and healthcare.

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This month, Cascale was a Supporting Organisation of the ReThink Sustainable Business Forum & Solutions Expo in Hong Kong, which was attended by team members Canelia Mbida, manager of member engagement, APAC; Chu Ching, decarbonization program coordinator; Howard Kwong, senior manager of public affairs, APAC; Peony Tam, manager of global membership development, APAC; Priyanka Sapra, human resources coordinator, and Ringo Yu, manager of Manufacturer Climate Action Program (MCAP).

Celebrating its fifth year, ReThink HK is the city’s most ambitious business event for sustainable development, a large-scale, cross-sector platform that champions ESG transformation and showcases game-changing innovation. Over 10,000 attendees attended more than 150 sessions where more than 500 speakers shared critical knowledge on a just and sustainable transition. These included Cascale members TUV Rheinland Group, RESET Carbon, SGS, and H&M.

Critical discussions and presentations included an exploration of how board-level executives can be engaged on climate governance, integrating environmental, social, and governance (ESG) strategies for a more circular and less wasteful economy, the importance of the International Sustainability Standards Board (ISSB) on the world stage, challenges related to Scope 3 emissions, the critical role of international cooperation in the climate transition, managing sustainability risks in the supply chain, diversifying global supply chain footprints, and understanding global strategic ESG communications, among many others.

CBRE

September 27, 2024 /3BL/ – CBRE has been named to Indeed’s Work Wellbeing 100 Index, which recognizes top companies with work cultures that attract, nurture, and retain talent. CBRE was the only commercial real estate company to make the list.

Indeed, a global job matching and hiring platform, in partnership with the University of Oxford Wellbeing Research Centre, gathered insights from millions of employees who rated their company experience. Indeed’s Work Wellbeing Score is based on four key wellbeing indicators: happiness, purpose, satisfaction and stress. The report determined that public companies with higher work wellbeing scores collectively outperform stock market benchmarks.

“At CBRE, we prioritize the wellbeing of our employees,” said Paul Hawtin, CBRE’s chief people officer. “Being named to Indeed’s Work Wellbeing 100 Index demonstrates our commitment to fostering a work environment where our people feel valued, supported and inspired. CBRE is not just a place to work; it’s a place to thrive.”

The companies on the Indeed Work Wellbeing 100 were determined based on employee feedback shared by U.S. employees on Indeed across the four key wellbeing indicators between January 1, 2023 – December 31, 2023. To qualify, companies in the U.S. must be publicly traded on the NASDAQ or NYSE and have received at least 100 responses for work wellbeing indicators in the past year (Jan 1, 2023 – Dec 31, 2023).

About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2023 revenue). The company has more than 130,000 employees (including Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.

This summer, Entergy New Orleans provided $383,025.25 through its “Beat the Heat” program focused on helping its low-income customers and communities stay cool and pay their bills throughout the summer. Through Entergy New Orleans’ “Beat the Heat” program, customers received bill payment assistance, fans, energy efficiency kits, home weatherization and invaluable support from local community partners.

“We are dedicated to supporting our customers in need by providing bill payment assistance, distributing essential cooling resources and improving energy efficiency in homes so they can better manage their energy bills,” said Deanna Rodriguez, Entergy New Orleans president and CEO. “Our commitment is to be there for our customers, especially during extreme temperatures. We understand the economic difficulties many are experiencing, and we are here to help.”

For decades, Entergy New Orleans has partnered with local organizations to ease the burden of hot summer temperatures resulting in increased usage and higher energy costs for our most vulnerable customers. Year after year, this collaborative program provides our customers with energy bill assistance, tools and resources, and support during the critical summer months. Through this program the company:

Donated more than $3 million in funds from Entergy shareholders, employees and customers to The Power to Care program, which provides energy bill assistance to older adults and customers with disabilities.Provided customers with free access to Single Stop, an online resource that connects households in need with financial assistance and more.Awarded more than $7,500.00 in grants to vulnerable customers to provide free resources like electric fans and home weatherization kits.Donated to local organizations that weatherized homes for customers in need.Held Entergy Navigators fairs in underserved communities, providing customers with assistance and resources to help manage their bills, energy efficiency kits, pro bono legal aid, Kids to College savings accounts and more.Provided more than 100 free electric fans to help customers beat high temperatures and save on electricity bills throughout the summer.Distributed 100 energy efficiency kits to customers. The kits included money-saving LED lightbulbs, advanced power strips, bathroom faucet aerators and V-seal weatherstripping. 
Over 4 low-income homes were weatherproofed during neighborhood sweeps that were held in select, underserved communities.

Entergy is dedicated to ensuring all customers have access to the resources and support they need to stay safe and comfortable year-round. To learn more about our customer assistance programs, visit billtoolkit.entergy.com.

For more information about Entergy New Orleans, click here.

Originally published on about.bnef.com

The transition to net-zero will require complex, systemic change. Policymakers, companies, financial firms and civil society alike all need accurate data on the various sectors, technologies, and commodities required for the transition. They will also need to ‘connect the dots’ across these commodities and technologies. BloombergNEF works closely with clients to help them develop a broad perspective on the energy transition, empowering them to accurately assess, manage and implement the changes that will mark the coming years.

In the leadup to Climate Week NYC, Biodiversity COP16, and COP29, BNEF is publishing a number of public reports to help guide conversations around energy, transport, industry, biodiversity, policy and finance.

Click here to access this featured research: https://about.bnef.com/bnef-climate-action/

PNC’s growth and success are tied to its ability to attract and retain talent who can innovate products and connect with an increasingly diverse customer base. Our diversity and inclusion strategy drives an investment in the diversity of our workforce, enrichment of our workplace culture, and growth of our customers and communities in order to succeed in the marketplace. We strive to foster a culture of inclusion in which employees and customers feel welcomed, valued and respected. We recognize our impact extends beyond our workforce, and so we commit to building the kind of belonging that not only deepens the connections we have to each other but also strengthens our communities.

As of the date of our last annual meeting of shareholders on April 24, 2024, our board consisted of 11 independent directors, including four women and three people of color, and our executive leadership team, a group of 12 individuals who report to the CEO, includes five women and four people of color. We remain focused on attracting and retaining a diverse workforce, and creating an equitable and inclusive workplace that reflects and is equipped to meet the needs of our diverse customer base. We’re proud to welcome the insights and innovation that spring from all backgrounds and experiences.

We know this work is never done. Over the next three years, we plan to focus on five areas that will allow us to continue making progress in this area:

Employee engagement that fosters a sense of belonging, trust, value and respectManager effectiveness and accountability for the PNC Leadership StandardsEmployee achievement and experienceStrong culture built on the foundation of PNC’s core valuesSupport for customers and communities in our diverse markets coast to coast

ACTIVATING AND ELEVATING OUR EMPLOYEES

Throughout 2023, we applied employee engagement feedback to facilitate informed decision-making regarding policies, methods and supportive, relevant resources. This iterative process ensures that implemented changes are not only substantive for our businesses but also resonate meaningfully with our employees. Employee engagement surveys measure an employee’s likelihood of recommending PNC as an employer and ask specific questions to understand perceptions of opportunities for career growth, development and inclusive culture.

Employee Business Resource Groups (EBRGs) have been a staple of PNC’s culture for 13 years, and more than 17,000 employees participate in at least one.

EBRGs are employee-led, company-supported groups that provide a forum to learn about and discuss heritage, shared background and experience, personal interests, and unique perspectives. Open to all employees, they create opportunities to expand networks, cultivate leadership development and elevate advocacy while supporting PNC’s business priorities.

In 2023, we:

Launched our 13th EBRG, Working Parents, which provides a forum for working parents, guardians and caregivers of children of all agesIntroduced 23 new virtual and market-based EBRG chaptersIncreased EBRG membership to 31 percent of the bankProvided new EBRG officer development and leadership support resourcesDesigned workforce market dashboards to understand locations of growth, and identified opportunities for focused communication in new marketsRefined our EBRG member management platform to promote engagement, increase efficiency and maintain transparency within all chapters

CELEBRATING OUR EMPLOYEES

Expanding our diversity and inclusion (D&I) efforts begins with effective communication about the many opportunities to grow and engage in our program offerings. In 2023, we successfully delivered five thought leadership events — open to employees and external stakeholders, reaching more than 13,000 internal and external stakeholders. This series brings in renowned speakers who share their insights on History and Heritage Months and their stories of success through the lens of leadership, personal and professional experiences. The program is designed to build cultural acumen, drive meaningful dialogue, and strengthen inclusion, empathy and respect.

History and Heritage Months were recognized and celebrated internally and externally. Some of these events included: Black History Month, Women’s History Month, Asian American Pacific Islander Heritage Month, Pride Month and Hispanic Heritage Month.

Our internal audience-only History and Heritage Month series, Innertwined, saw more than 2,700 employees join five events in recognition of Veterans Day, Working Parent’s Day, Juneteenth, Coming Out Day and Native American Heritage Month.

In 2023, we saw a 20 percent increase in attendance at our annual D&I conference. This internal event provides us with an opportunity to bring together PNC employees to exchange insights, encourage innovation and collectively celebrate our employees’ efforts toward building an inclusive culture at PNC.

All programming and events are supported by PNC’s Corporate Diversity Council (CDC), which is co-chaired by our CEO and chief diversity officer (CDO). The council includes senior leaders from across the organization and works collaboratively with human resources to support initiatives that embed an inclusive culture with a talented, diverse workforce. Our robust network of key D&I communicators includes more than 900 champions who lead our EBRGs, Lines of Business (LOB) Councils, Regional Councils and critical partners. Together, they enable us to reinforce D&I programming and strategies, share best practices, and host effective and authentic dialogue between and among our employees.

Over the past year, our Regional Councils experienced notable expansion to more than 50 councils. These councils strengthen business and community relationships and enable client growth by leveraging market and segment insights. Within our marketplace efforts, a nonprofit board service guide and the PNC Inclusion Calendar were launched. The calendar is an optional Microsoft Outlook and web tool available for all employees that shows a broad representation of cultural events. It can be used to increase awareness, foster a culture of belonging and serve as a valuable resource for meeting and event planning with employees, clients and community partners.

In addition, our 19 lines of business D&I Councils focused on improving workplace experiences, including enriching employee engagement, inclusive behaviors and talent mobility. More than 100 programs were implemented to improve professional development planning, mentorship experiences, EBRG participation, employee engagement results and skill-building to bring inclusive behaviors to life.

As in years past, PNC took steps to cultivate a diverse and inclusive workforce and work environment through optional learning experiences. We launched a course called Inclusive Language Foundations in mid-January to provide tools, resources and best practices. This will help our employees engage in healthy dialogue to build stronger, more authentic relationships with each other, our clients and our communities, which in turn helps us to compete in the marketplace. In 2023, we created and enhanced five D&I learning workshops. From this, we delivered 56 sessions to various teams and employee groups, reaching more than 4,200 employees. The workshops have allowed teams to engage in deeper conversations with one another around D&I, personalize the content to be more relevant to their day-to-day work and improve team culture.

Employee Business Resource Groups

African AmericanAsian AmericanFirstGen | First-Generation College StudentInterfaithLatinoMilitary | Serving with IntegrityMulticulturalPNC EnablePNC ProudPREP | PNC Recognizing Emerging ProfessionalsTech ConnectWomen ConnectWorking Parents

Celebrating History and Heritage

Black History MonthWomen’s History MonthAsian American Pacific Islander MonthLGBTQ+ Pride MonthHispanic Heritage Month

In 2023, we created and enhanced five D&I learning workshops. From this, we delivered 56 sessions to various teams and employee groups, reaching more than 4,200 employees.

In 2023, PNC History and Heritage Month program events reached more than 13,000 employees and external attendees.

2023 D&I Awards

Best Employers for Diversity 2023 
Forbes

America’s Best Companies for Veterans 2023 
Forbes

2023 Veteran-Friendly Companies 
U.S. Veterans Magazine

Gender Equality Index 2023 
Bloomberg

Best Employers for Women 2023 
Forbes

World’s Top Companies for Women 2023 
Forbes

2023 100 Best Companies 
Seramount

Best Places to Work for Women and Diverse Managers 
Diversity MBA

Best Places to Work for Disability Inclusion 
Disability Equality Index (DEI)

View the full 2023 Corporate Responsibility Report. 

Awards $50,000 to the American Red Cross as Hurricane Helene makes landfall in Florida later today

ST. PETERSBURG, Fla., September 26, 2024 /3BL/ – As Hurricane Helene makes landfall in Florida later today, Duke Energy Florida is reminding customers that the company has 8,000 workers, including nearly 4,000 in The Villages in Central Florida, ready to respond to widespread power outages as soon as conditions allow. The company is also encouraging customers to remain informed and vigilant – while prioritizing safety above all else – before, during and after the storm.

“Hurricane Helene poses a significant threat to Florida’s Big Bend and other communities along the state’s west coast. The potential of a category four storm can cause widespread damage to our equipment resulting in extended outage durations for our customers.” said Todd Fountain, Duke Energy Florida storm director. “We can’t overstate how critical it is for our customers in these areas to keep safety top of mind in the hours and days ahead.”

In anticipation of the Hurricane Helene, the Duke Energy Foundation has awarded $50,000 to the American Red Cross to support disaster response and relief efforts. This is in addition to the $3.5 million the Foundation has donated specifically to the American Red Cross’ emergency response work in Florida over the last five years, as well as a previous $100,000 grant to upgrade the organization’s Emergency app.

“The American Red Cross offers life-saving services in the aftermath of hurricanes and other disasters,” said Melissa Seixas, Duke Energy Florida state president. “It’s our privilege to contribute to this important mission and help ensure our fellow Floridians can get back on their feet as quickly as possible post-Helene.”

Customers are advised to practice the safety protocols below:

Have a portable radio, TV or NOAA Weather Radio on hand to monitor the storm’s latest developments. 
 In case of strong winds, stay away from windows and doors, even if they are covered. Seek shelter in a small interior room, closet or hallway on the lowest floor. 
 Disconnect or turn off any nonessential electrical equipment that may start automatically when power is restored to avoid overloading circuits. 
 Do not open freezers or refrigerators more than necessary. Opening these appliances will allow food to thaw quicker. For more information, see the FDA’s food safety guidelines.

To report a power outage, text OUT to 57801, call 800.228.8485 or report online or through the mobile app. For more safety tips, please visit duke-energy.com/StormTips.

Duke Energy Florida 

Duke Energy Florida, a subsidiary of Duke Energy, owns 12,300 megawatts of energy capacity, supplying electricity to 2 million residential, commercial and industrial customers across a 13,000-square-mile service area in Florida.

Duke Energy 

Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of America’s largest energy holding companies. The company’s electric utilities serve 8.4 million customers in North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky, and collectively own 54,800 megawatts of energy capacity. Its natural gas utilities serve 1.7 million customers in North Carolina, South Carolina, Tennessee, Ohio and Kentucky.

Duke Energy is executing an ambitious clean energy transition, keeping reliability, affordability and accessibility at the forefront as the company works toward net-zero methane emissions from its natural gas business by 2030 and net-zero carbon emissions from electricity generation by 2050. The company is investing in major electric grid upgrades and cleaner generation, including expanded energy storage, renewables, natural gas and nuclear.

More information is available at duke-energy.com and the Duke Energy News Center. Follow Duke Energy on X, LinkedIn, Instagram and Facebook, and visit illumination for stories about the people and innovations powering our energy transition.

Contact: Ana Gibbs 
24-Hour: 800.559.3853

View original content here.

MEMPHIS, Tenn., September 26, 2024 /3BL/ – Chocolate milk, chocolate chip cookies, and filling up the piggy bank he plans on donating to St. Jude Children’s Research Hospital® are some of the favorite things of 2024 Purple Eagle honoree, Micah. A 7-year-old who was diagnosed with acute lymphoblastic leukemia after he started kindergarten in the fall of 2022, Micah was honored Wednesday ahead of the first day of competition at the FedEx St. Jude Championship at TPC Southwind.

The Purple Eagle program began in 2011 when FedEx vice president of airline safety Bill West, a long-time volunteer for the FedEx St. Jude Championships, decided that he wanted to see more than just FedEx trucks and vans around the golf course during tournament week. As the then-managing director of Feeder Operations, the turbo prop planes operating for FedEx into smaller airports, he proposed a plan to tow and park a Cessna Caravan aircraft at the golf course and name one each year for a St. Jude patient whose parent or grandparent is a FedEx team member. One year later in 2012, the first plane was dedicated. Now, a dozen years later, the tradition continues with Micah’s plane, tail number N788FE.

“Everyone may know that our big jets are named for children of FedEx team members,” said West. “But after today’s dedication, just 12 of our feeder planes are named. Each one is named for a patient of St. Jude Children’s Research Hospital whose parent or grandparent works at FedEx, which means these are special planes for special kids.”

Micah’s grandfather, Craig, is a manager for the FedEx line maintenance team in Memphis and for Micah’s seventh birthday, he gave Micah seven one-dollar bills. Micah responded that he was saving that money to give to St. Jude, where he one day hopes to be a nurse.

Micah’s plane will sport his name under the St. Jude Children’s Research Hospital logo for the duration of the Cessna Caravan’s time in service as part of the FedEx supplemental aircraft fleet. There are over 300 turboprop airplanes in the supplemental fleet.

“We are incredibly grateful to our longtime partners at FedEx for providing this opportunity to honor Micah and all of the other Purple Eagle recipients over the years in such a special way,” said Richard C. Shadyac Jr., President and CEO of ALSAC, the fundraising and awareness organization for St. Jude Children’s Research Hospital. “It’s because of generous partners like FedEx that St. Jude can help more of the 400,000 kids around the world who will get cancer each year.”

12 Years of Purple Eagle Honorees

 HonoreeDiagnosisCessna Caravan Tail Number2024 
 Micah 
 Acute lymphoblastic leukemia 
 N788FE2023 
 Olivia 
 Neurofibromatosis 
 N884FE2022 
 Riley 
 Acute lymphoblastic leukemia 
 N986FX2021 
 Kenzie 
 Acute lymphoblastic leukemia 
 N753FX2020 
 No honoree due to COVID protocols 
  2019 
 Reid 
 Rhabdomyosarcoma and Ectomesenchymoma 
 CFEXN2018 
 Mya 
 Sickle cell disease 
 N981FE2017 
 Calvin 
 Craniopharyngioma 
 N846FE2016 
 Alyssa 
 Melanoma 
 N933FE2015 
 Tyler 
 Acute lymphoblastic leukemia 
 N752FX2014 
 Allie 
 Anaplastic Ependymoma 
 N987FX2013 
 Hayes 
 Rare kidney cancer 
 N981FE2012 
 McKaylee 
 Anaplastic Astrocytoma 
 N773FE

About FedEx Corp.

FedEx Corp. (NYSE: FDX) provides customers and businesses worldwide with a broad portfolio of transportation, e-commerce, and business services. With annual revenue of $88 billion, the company offers integrated business solutions utilizing its flexible, efficient, and intelligent global network. Consistently ranked among the world’s most admired and trusted employers, FedEx inspires its more than 500,000 employees to remain focused on safety, the highest ethical and professional standards, and the needs of their customers and communities. FedEx is committed to connecting people and possibilities around the world responsibly and resourcefully, with a goal to achieve carbon-neutral operations by 2040. To learn more, please visit fedex.com/about.

About St. Jude Children’s Research Hospital®

St. Jude Children’s Research Hospital is leading the way the world understands, treats and defeats childhood cancer and other life-threatening diseases. Its purpose is clear: Finding cures. Saving children.® It is the only National Cancer Institute-designated Comprehensive Cancer Center devoted solely to children. When St. Jude opened in 1962, childhood cancer was largely considered incurable. Since then, St. Jude has helped push the overall survival rate from 20% to more than 80%, and it won’t stop until no child dies from cancer. St. Jude shares the breakthroughs it makes to help doctors and researchers at local hospitals and cancer centers around the world improve the quality of treatment and care for even more children. Because of generous donors, families never receive a bill from St. Jude for treatment, travel, housing or food, so they can focus on helping their child live. Visit St. Jude Inspire to discover powerful St. Jude stories of hope, strength, love and kindness. Support the St. Jude mission by donating at stjude.org, liking St. Jude on Facebook, following St. Jude on X, Instagram, LinkedIn and TikTok, and subscribing to its YouTube channel.

Click here to learn about FedEx Cares, our global community engagement program.

SAN JOSE, Calif., September 26, 2024 /3BL/ – Silicon Valley companies committed to sustainability and social impact performance will share best practices and encourage networking with like-minded professionals on Oct. 23 during 3BL Network Effect: San Jose. The event is free.

The half-day program, taking place at Logitech’s San Jose campus, is open to those working in corporate social responsibility, sustainability, social impact, communications, marketing and investor relations roles at companies, agencies and nonprofits. Breakfast will be provided.

Register for Network Effect: San Jose here. 

“Tech is the largest industry in the world, employing nearly 5 million people in the United States,” said Dave Armon, 3BL vice chair and host of Network Effect: San Jose. “We’re excited to discuss sustainability and corporate citizenship topics with companies whose products, people and cultures can change the world for the better.”

Among the organizations participating in 3BL Network Effect: San Jose are Cadence Design Systems, Cisco Systems, Fast Forward, Intuit and Logitech.

In addition to panel discussions, fireside chats and research revealing consumer sentiments about sustainability, the event is designed so practitioners from Silicon Valley companies, nonprofits and NGOs can explore opportunities to partner for more impact.

Here’s a sneak peak of what awaits on our agenda:

Size of the Prize: The Billion-Dollar Impact of Growing Consumer Demand
There’s growing pressure on businesses to prioritize sustainability, but how much of an impact does it have? Are consumers actually switching brands for sustainability reasons? The answer is yes, and the impact of sustainability-driven brand switching totals $44 billion across 12 U.S. industries. We’ll share new research.

Evolution of ESG Strategy and Reporting Practices
Jeff Rangel, Director of ESG Strategy and Reporting, Intuit, will join a fireside chat with Peggy Brannigan, Board Member, Business Council on Climate Change, to discuss how the software giant behind QuickBooks, TurboTax, Mailchimp and Credit Karma embeds its True North sustainability goals across the company to yield data alongside impactful stories.

Fem.AI: Changing the Future Workforce of Tech
Nicole Johnson, Director of Social Impact, Cadence Design Systems, and Kendall Arthur, Director of Strategic Partnerships, Fast Forward, will explore Cadence’s groundbreaking Fem.ai approach, which propels women and the industry towards a fairer tech sector.

Circular Transformation: Doing the Work, Telling the Story
Wendy Ng, Program Manager, Supply Chain Sustainability, Cisco Systems, will share circular design principles that are transforming product development to minimize environmental impact, enhance repairability, and promote reuse and recycling. Stacey Faucett, Manager Sustainability Communications, Governance and Compliance, Cisco Systems, will explore the power of effective storytelling in driving internal and external action, fostering innovation, and making progress on sustainability goals.

Gaming Without Barriers 
Logitech has eliminated barriers of all kinds in product design, promoting equity and inclusivity in communities throughout the world. Logitech’s Aurora Product Collection and the Adaptive E-Sports Tournament were intentionally designed to challenge existing biases and stereotypes, enhancing inclusivity in gaming.

Register today at no cost. Breakfast is included.

Nasdaq

Review the results from a survey that primarily polled corporate carbon credit buyers, who share insight into how the market for durable carbon removal credits has changed over the past year and the role carbon credits play in net zero strategies. The goal of this report is to help close carbon removal credit knowledge gaps and support carbon market stakeholders with fresh insights.

How has the VCM changed in the last 12 months?

Carbon dioxide removal (CDR) continues to be a necessary tool within the corporate net zero toolbox. But if CDR efforts expect to leverage the voluntary carbon market (VCM) as a financing vehicle for conventional and novel CDR, a deeper analysis of buying preferences is critical.

Considering the detail uncovered within the VCM from last year’s Nasdaq Global Net Zero Pulse survey, the Nasdaq ESG Advisory team used this year’s survey to capture answers to the question: How has the VCM changed in the last 12 months? To do so, the team uncovered insights that span three key themes necessary to scale the VCM and CDR adoption: 

Corporate net zero alignmentCarbon credit purchase strategiesCarbon market dynamics

Key Findings

Despite demand-side uncertainty in the market, there appears to be a need for durable CDR to achieve net zero. 

Respondents associate using carbon removal credits as an integral part of their net zero strategy. 57% plan to invest in nature-based and technology-based carbon removal solutions to neutralize their residual emissions and less than 10% expect to reach net zero without using any carbon credits.

To guide the carbon credit procurement process, companies are setting a strategy that aligns to their sustainability goals and targets.

93% of carbon credit buyer respondents report their company has a carbon credit strategy in place. In line with last year’s survey findings, strategies that focus on carbon removal credits are favored by respondents from larger companies, whereas smaller companies are more likely to have strategies that focus on carbon reduction or avoidance credits.

With carbon offset claims at risk of being viewed as greenwashing, corporate buyers are concerned about properly evaluating credits. 

Consistent with 2023 survey results, MRV, cost, and permanence are prioritized components for corporate buyers purchasing carbon removal credits.

The evolving regulatory landscape plays a larger role in determining how companies approach their carbon credit procurement strategy.

While carbon removals have been largely unregulated, regulators and policy makers have focused more attention on the voluntary carbon markets. 72% of survey respondents report feeling pressure from this suite of policies, especially the SEC’s Climate Disclosure Rules and California’s AB-1305.

Familiarity with carbon removal credit types is not uniform – corporate buyers are interested in further education on carbon removals.

Survey respondents report familiarity with reforestation (83%), DAC (76%), and biochar (63%), suggesting that corporate education for individual CDR pathways is still needed. In addition, ocean-based CDR pathways are the least understood by survey respondents.

Download the report