Matchmaking cash with UK carbon reduction projects

For over 20 years now leading organisations across the globe have been actively reducing their direct carbon emissions. The 1997 Kyoto protocol began to formalise this process by defining a set of significant greenhouse gases and agreed a mechanism to “offset” emissions by investing in carbon reduction and avoidance schemes in developing countries. This has channelled investment into much needed low carbon international development but has steered many organisations away from investing in UK-based carbon reduction projects, beyond philanthropic donations.

During this time we have, collectively, developed an increasingly sophisticated approach to carbon accounting, management and reduction. We now also recognise that reducing the direct carbon emission of our organisations, while critical, is not the whole picture. No one operates in a vacuum but rather within a complex value chain of suppliers and customers, employees and other stakeholders where our impacts, influence and related decisions can go a long way. At Forum we believe that any carbon management strategy needs to recognise and reflect the complexity of these systems.

The Carbon Reporting Framework (CRF) is now a live part of this jigsaw. Based on a series of clear methodologies the CRF channels funds to local projects within the UK that result in CO2 reduction, and create green collar jobs, while identifying additional social benefits and the complexities around ‘additionality’ and ‘double counting’.

Working with the Building Research Establishment (bre), and supported by Deloitte and BA, we now have a transparent investment process for UK carbon reduction projects. The CRF provides the opportunity to support projects that resonate and alight with an organisation’s priorities and strategy. For example, If a company has a large employment site or a strong customer base in a particular area then supporting a local woodland scheme could improve quality of life, or operators within the energy sector may prefer to help fund community renewables. It’s the connection with our stakeholders that’s key here in order to deliver a comprehensive approach to carbon mitigation.

Matchmaking between carbon reduction projects in the UK and potential funders isn’t a new idea but the CRF provides a clear and consistent approach for funders to interrogate and identify the best fit for their organisation. We hope, and fully expect, the CRF will go from strength to strength over the years to come. That it will increase capital and cash invested into a low carbon UK, and let’s face it we need all the investment we can get if we are going to reach our agreed destination.

For more info visit our project page or contact Ben Ross.