Last month I attended the Corporate Investments into Forestry and Biodiversity (CIFB) conference in Chicago and the IETA European Climate Summit in Florence. The events attracted players from all areas of the carbon market, from Nature Based Solutions (NbS) project developers to carbon credit traders, buyers, ratings agencies and technology vendors. And while they were held on opposite sides of the Atlantic, three consistent themes emerged from these events:
- Getting finance for projects is challenging
- Biodiversity provides a great opportunity to enhance the value of carbon credits
- The appetite for collaboration from all stakeholders is strong
Let’s explore them below in more detail.
Financing sustainable projects: overcoming cost and resource barriers to project set-up
The challenge of financing sustainable projects is being felt keenly by project developers. The upfront capital required for pre-feasibility studies and project documentation is significant in terms of resources, with developers reporting costs of anywhere between $20 to $2,000 per hectare. This upfront investment often hampers the ability of project developers to launch initiatives swiftly and effectively.
This is where geospatial tools like Earth Blox are proving transformative by enabling developers to conduct initial assessments in minutes to identify the highest quality project areas to pursue. Using Earth Blox you can conduct baseline mapping and look at deforestation, climate risk, drought, slope and terrain information for large areas before sending teams out to conduct ground truthing. Our customers have been able to reduce analysis time from days to hours thanks to Earth Blox.
The ability to conduct assessments in-house, without having to hire forest or geospatial experts, saves them thousands of dollars in salaries or consultancy fees. This technological leverage not only accelerates project identification but also streamlines the financing process by providing robust, transparent data for project documentation. Learn more about Earth Blox for NbS project assessments here.
Biodiversity: a co-benefit enhancing carbon credit value
A second prominent discussion point was the intrinsic value added by biodiversity to carbon credit projects. With an increasing focus on multi-benefit projects, biodiversity is no longer just a tick-box for environmental impact but a core component driving the economic value of carbon credits. Projects that incorporate diverse ecosystems and native species not only bolster the resilience and health of an area but also command higher prices in the carbon credit market. This trend reflects a broader shift towards recognising and rewarding projects that provide substantial ecological benefits beyond carbon sequestration.
Being able to quantify biodiversity is vital. Luckily, Earth Blox gives you the tools to measure positive changes in biodiversity quality and coverage to assess potential areas for Nature Credits, biodiversity or NbS projects. These analyses broadly align with the Verra SD VISta Nature Framework to quantify the current ecosystem condition and historic change in biodiversity occurring within a project area. A customisable solution, they can draw on a range of datasets including Dynamic World landcover, Biodiversity Intactness, Aboveground biomass, NDVI, WDPA, RESOLVE Ecoregions, IUCN Red List, and Key Biodiversity Areas. Contact us to learn more about biodiversity assessments with Earth Blox.
Collaboration: the key to accelerating environmental impact
The final theme revolved around the eagerness to drive change through collaborative efforts. Both events demonstrated a strong desire among participants to work together across industries to enhance sustainability initiatives. The presence of diverse stakeholders — from corporate giants to NGOs — creates a fertile ground for sharing knowledge and fostering partnerships that could scale environmental solutions more effectively. The challenge now lies in harnessing this collective enthusiasm to develop actionable strategies that lead to real-world impacts.
These themes from the CIFB and the IETA European Climate Summit underline a crucial narrative in the sustainability sector: the integration of advanced technology, economic incentives, and collaborative efforts are essential for advancing sustainable practices globally. As we move forward, harnessing these elements will be vital in overcoming the challenges faced by project developers and in creating lasting environmental benefits. Collaboration, not competition, is key.
Stephen Wright is Head of Sales at Earth Blox. He works with sustainability teams and investors into nature-based solutions, setting them up to accelerate ESG reporting and sustainability initiatives with climate and nature insights from Earth Blox. Stephen has over ten years of international experience scaling customer-focused commercial teams in SaaS, finance, and manufacturing and has advised on sustainability initiatives across private energy and local government. He is passionate about scaling climate action through technology.