Patch

Excited to share our new playbook for Chief Sustainability Officers to successfully navigate the voluntary carbon market. Workday partnered with Patch to create this step-by-step guide to accelerate climate solutions through effective carbon credit purchasing. Carbon markets are complex. Building a portfolio of offtakes can be daunting. Securing funds and budgeting can be challenging. If you're a #sustainability leader looking to accelerate impact beyond your value chain, we've put together this guide to help you. With real world examples from Workday and other leading companies, this playbook will help you provide practical implementation guidance to help you meet both business and impact objectives. Shoutout to Bee Hui Yeh, Molly Dickens, Katie Lyons, and Matthew Klassen for helping lead this effort and sharing their valuable insights in this guide. I'll be at #ClimateWeekNYC sharing more details, reach out to me or the Patch team if you'd like to dig in! https://lnkd.in/gdB_Yz2H

We're proud to release our new carbon credit playbook for Chief Sustainability Officers. This is built around the process we used alongside Workday to help them craft a best-practice strategy for engaging with carbon markets. Now you can apply that process to your own company's sustainability program. Get the guide here: https://lnkd.in/eBAdtX9d

Fascinating discussion this morning during Carbon Unbound with Marie-Louise du Bois (S&P Global), Joe Cruttwell (Patch), Brett Orlando (Bank of America), Emma Parry (McKinsey & Company), Salah Said (Klarna), and Kristjan Lepik (Arbonics) on lessons from buyers on navigating the VCM. Some key takeaways for me: 🥕 There is currently a clear lack of incentives for buyers to engage with the VCM. There either needs to be a stick or a carrot, or ideally both. We cannot scale this to a trillion dollar industry simply by companies "doing the right thing". 🙊 There are already a lot of companies taking ambitious action in this space, they are just not talking about it publicly. If more companies talked about the climate action they are taking, it would encourage other buyers to come in. ❌ A lot of businesses have set climate commitments that come into play in 2030, however if we keep scaling at the pace we are today, the supply simply won't be there for them. This could result in a huge cost spike in the short-term. 🤩 It's really important for businesses purchasing carbon credits to be able to tell compelling stories behind the projects they invest in. Project developers behind those projects can help them with this. 💰 The cost of carbon removals has to come down significantly if high emitters and companies with high operating margins are going to be able to enter. And without these companies in play, the industry will not scale to level required. 😳 And of course, entering the VCM is really complicated and needs to be simplified massively for buyers to enter at scale. #CarbonUnbound #VCM #CarbonRemovals

⚠ IETA Live Webinar | State of Carbon Dioxide Removal & Markets 📆 Tuesday 17 September 2024 🕓 07h00 PST | 10h00 EST | 15h00 BST | 16h00 CEST | 22h00 Japan ⏱ 1.5 hours Join us as IETA hosts a Live Series webinar setting out an up-to-date stocktake on carbon dioxide removals #cdr and carbon markets. We'll hear from: ▶ Steve Smith, Executive Director at Oxford Net Zero and CO₂RE - The Greenhouse Gas Removal Hub, briefing us on the latest status of #CarbonRemoval #cdr drawing from his work as Lead Author of the #StateofCDR report (2nd edition) ▶ Injy Johnstone, Research Associate in Net Zero Aligned Offsetting at Smith School of Enterprise and the Environment - University of Oxford, reflecting on the role of the voluntary carbon market #vcm in deploying #cdr Practitioners from across the carbon marketplace will provide 360° reactions. We'll hear from: ▶ Georgia Berry, Policy Lead UK and Europe, Patch ▶ David Stead, Director Decarbonization and Head of CDR, Vertree & Hartree Partners ▶ Stephanie La Hoz Theuer, Senior Advisor, adelphi and International Carbon Action Partnership (ICAP) ▶ Gyozo David Ungar, Co-Founder, Carbon Finance Lab, and Co-Chair of IETA's CCS and CDR Working Group Register here:

Reporting regulations are quickly becoming the norm for companies, and the EU has some of the most robust. Complying with disclosure requirements is already a huge part of the job for corporate sustainability leaders. Any time they can save collecting the information they need to report on their carbon credit purchasing is time they can spend on reducing their emissions footprints. Patch is making it fast and simple to gather all the information necessary on your carbon credit purchases required by the EU's Corporate Sustainability Reporting Directive (CSRD). Our own Georgia Berry wrote a blog breaking down the CSRD, who it affects, and when they'll need to start reporting. Most importantly, it's got our Environmental Sustainability Reporting Standards (ESRS) template in it. Take a look! And please reach out to our Climate Strategy and Solutions team to get their expertise on carbon markets and compliance.

Carbon removal is happening all around the world, today. If you go to Brooklyn, you can see how Vycarb is taking CO₂ out of the water. We took a small group of corporate sustainability leaders to Vycarb's New York project location to show them the real world science and impact of marine carbon dioxide removal. Carbon credit projects like Vycarb can often seem abstract — you can't see the CO₂ in the water. You can't touch or hold the credit they sell to monetize the climate impact. That's why going on location and meeting the scientists behind the solutions can be so meaningful. Optimism is infectious. Are you interested in visiting project site locations?

Reporting from The Wall Street Journal makes it clear: if we want to scale high-impact and robust climate solutions, we need to grow and rationalize the voluntary carbon market, now! Brennan Spellacy sat down with Yusuf Khan to share how Patch is helping to make carbon removal support possible for corporates across the globe. ⬇

Patch has published an open letter calling on SBTi to provide swift and decisive guidance for corporate use of high-integrity carbon credits. ➡ Read the full letter: https://lnkd.in/eAWcE5Hc

Patch has published an open letter calling on SBTi to provide swift and decisive guidance for corporate use of high-integrity carbon credits. ➡ Read the full letter: https://lnkd.in/eAWcE5Hc

Patch has spent the last several years on the frontlines with companies who are eager to turn climate ambition into reality. We’ve seen firsthand the unmatched ability standards groups, like Science Based Targets initiative, have had in enabling real climate action. But, we’ve also seen that when these standards bodies cannot move quickly to innovate and iterate, they leave corporates paralyzed. This is the problem we’re facing today as companies try to make sense of how they can support carbon avoidance and removal efforts as part of their net-zero targets. And this is why today, Patch has published an open letter calling on SBTi to provide swift and clear guidance for how companies can increase climate finance through use of carbon credits. We’ve lost the luxury of waiting years for perfected roadmaps, it’s time to pull out all the stops in the fight against climate change. You can see Patch’s open letter below and read my comment published in Reuters below.