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Impact Reports

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As 2022 begins, it’s time once more to review our impact over the past twelve months.
2021 was a rollercoaster year for Ecologi &#8211; a year which saw us <a href="https://x.ecologi.com/articles/blog/ecologi-b-corp-company" target="_blank" rel="noopener">become a B Corp</a>, join the <a href="https://x.ecologi.com/articles/blog/were-a-un-decade-on-ecosystem-restoration-actor" target="_blank" rel="noopener">UN Decade on Ecosystem Restoration</a>, and <a href="https://www.crowdcube.com/companies/ecologi/pitches/bM0E5Z" target="_blank" rel="noopener">become part-owned by our community</a>.
In the early Summer, we announced the conclusion of our first round of investment, <a href="https://medium.com/building-ecologi/ecologi-chapter-2-ebaf66d1dbb9" target="_blank" rel="noopener">which raised £4m, led by General Catalyst</a> and set us on the path to scaling up our impact into the future. Our team began to grow, and whilst in January 2021 we were only around a dozen full time staff members, by the end of the year our team with a dream was over 35 strong.
November 2021 also saw a small team from Ecologi travel to Glasgow, to COP26. As well as providing <a href="https://x.ecologi.com/articles/blog/what-was-agreed-at-cop26" target="_blank" rel="noopener">daily reporting and analysis</a> about the key developments in Glasgow, the team’s activities during COP included providing carbon-free transportation around Glasgow in Ecologi-branded ‘Pedicabs’, collaborating with climate activists and educators including <a href="https://www.instagram.com/p/CV7WtsOjJr0/" target="_blank" rel="noopener">Isaias Hernandez</a> and <a href="https://www.instagram.com/p/CWc5n2aj22H/" target="_blank" rel="noopener">Alice Aedy</a>, and joining thousands of youth strikers to march for the planet.
As the end of 2021 came into sight, we had another fantastic achievement to share with our community, as <a href="https://x.ecologi.com/articles/blog/ecologi-b-corp-company" target="_blank" rel="noopener">we passed our B Impact Assessment</a> and became a certified B Corp. The whole team was thrilled to have scored 123.7 points in our assessment, and are proud to join over 4,000 other businesses committed to putting people and planet first.
We also wrapped up <a href="https://www.crowdcube.com/companies/ecologi/pitches/bM0E5Z" target="_blank" rel="noopener">our crowdfunding campaign</a>, which saw 2,760 investors join us in our journey, raising an additional £4.3 million and sharing ownership of the organisation with our community. We were blown away by the enthusiasm of our community and cannot thank those who invested enough for supporting our vision to help restore the planet.

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<h3>Climate news</h3>
In the world of climate science, few developments in 2021 commanded as much attention as <a href="https://www.ipcc.ch/report/ar6/wg1/downloads/report/IPCC_AR6_WGI_Full_Report_smaller.pdf" target="_blank" rel="noopener">the publication of the latest IPCC report</a> in August. This was the Working Group I (WGI) contribution to the Sixth Assessment Report (AR6), relating to how the climate is changing, and what is causing it to do so.
The report highlights the unequivocal truth that human activity has warmed the planet and its atmosphere, and noted that global targets of keeping mean temperature rise below 1.5°C will not be met without “deep reductions in carbon dioxide (CO2) and other greenhouse gas emissions”. The IPCC report <a href="https://news.un.org/en/story/2021/08/1097362" target="_blank" rel="noopener">was considered “code red for humanity”</a> by UN Secretary General, António Guterres, and it came at a time when we were witnessing the impact of warming across the world in 2021, with extreme weather impacting millions of lives around the world.
After global greenhouse gas emissions fell in 2020, projections anticipate that <a href="https://www.iea.org/reports/global-energy-review-2021/co2-emissions" target="_blank" rel="noopener">emissions will have risen again by 4.8% by the end of 2021</a>. This is disappointing, but would mean that we have not yet returned to peak emissions reached in 2019. We are hopeful that we can collectively apply lessons learned throughout the COVID-19 pandemic, when emissions dropped, to ensure that global emissions fall in the coming years even as the global economy picks up pace again.
<h3>A changing landscape of climate action</h3>
After being delayed a year, COP26 was labelled by many as the world’s last chance to avert a climate catastrophe, so there was a lot of pressure on delegates to deliver. While the final text of the Glasgow Climate Pact that resulted from the COP was <a href="https://x.ecologi.com/articles/blog/what-was-agreed-at-cop26" target="_blank" rel="noopener">less ambitious than many had hoped</a>, there were clear advances on previous COPs, and multilateral pledges on <a href="https://ukcop26.org/glasgow-leaders-declaration-on-forests-and-land-use/" target="_blank" rel="noopener">ceasing deforestation</a> and <a href="https://www.globalmethanepledge.org" target="_blank" rel="noopener">reducing methane emissions</a> gave some hope that our representatives are finally starting to understand the urgency of taking concrete action.
As attention turned towards climate change at major global events and due to extreme weather conditions, individuals and businesses looked for ways to reduce their impact on the planet. The publication of a formal criteria for net-zero, <a href="https://sciencebasedtargets.org/net-zero/" target="_blank" rel="noopener">by the Science-Based Targets initiative</a>, provides a new and robust framework for businesses to reduce and neutralise their impact on climate. Increased demand for carbon credits by sustainability-conscious organisations <a href="https://carboncredits.com/carbon-prices-today/" target="_blank" rel="noopener">caused carbon prices to rise even faster</a> than they already were. 
Ecologi’s response to all this is to keep pushing, with renewed resolve, towards our goal &#8211; halving global greenhouse gas emissions by 2040. In 2022, we’ve got our sights set on scaling the range and depth of impact we have around the world. 
But first, it’s time to reflect on the incredible year that was 2021.

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By the end of 2021, our amazing community had funded the planting of a staggering 30,209,850 trees. This means that, across 2021, the Ecologi community funded just under 24 million trees.

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As our community continues to grow, so does our recurring impact &#8211; by the end of 2022, we could be looking at over 80 million trees funded and ready for planting.

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In 2021, we were hugely excited to start working with new reforestation partners, and to support planting at new reforestation sites around the world. See a few photos from our newest supported sites below.

Eden employees tending to seedlings in Tendwet nursery, where trees for the Kass FM project are being grown. Two local nurseries have been set up to nurture seedlings to be planted in this project.

Photo from Eden Reforestation Projects.

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Kenya

Trees for Kass FM are being grown in two local nurseries - Tendwet and Nkoben. They are run by local people employed by our partner, Eden Reforestation Projects.

Photo from Eden Reforestation Projects.

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Seedlings ready to be planted by Eden employees. The seedlings are carefully grown in the nursery until they reach a big enough size to survive in the ground, with roots long and healthy enough to ensure the plant gets all the nutrients and water it needs.

Photo from Eden Reforestation Projects.

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The Mbale project helps restore degraded farmland by planting trees. The trees help keep the soil healthy, preventing desertification, and helping farmers grow more nutritious food.

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Uganda

The trees help restore soils, improving nutrient availability and water availability for crops. Planting trees can bring lots of life back to the land.

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In Irregele Milato, Mozambique, mangroves are being planted by Eden employees. These mangroves help protect coastal communities from flooding, and support both terrestrial and marine life.

Photo from Eden Reforestation Projects.

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Mozambique

Healthy mangrove forests support lots of biodiversity. Their roots form part of fantastic habitats for marine creatures. 

Photo from Eden Reforestation Projects.

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New projects

As our community grows and continues to fund more and more trees, we are planning to develop further partnerships to get these trees in the ground. Beginning with our latest new partner, <a href="https://trees.org/" target="_blank" rel="noopener">Trees For The Future</a> in Autumn 2021, we are now in the process of onboarding a further three partners in the first quarter of 2022, with more later in the year.
As the range and scope of our reforestation efforts continues to evolve, we can’t wait to share more stories from the field to help bring you closer to the projects your contributions are supporting.

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Whilst we keep track of how many trees have been funded for planting, it always takes a little while before the trees we’ve funded are planted &#8211; depending on planting seasons and local conditions, for example.
As of the end of 2021, our partners have reported the successful planting of 9,953,727 trees on behalf of the Ecologi community so far, and we have <a href="https://docs.google.com/spreadsheets/d/1dACvzjE5nBE1cKZBAhYzsUa7rIiLJqCWXVgY4bNS8_Q/edit?usp=sharing" target="_blank" rel="noopener">already placed orders</a> for the next several million trees too, based on the dedicated reforestation funding from our community in 2021. 
Here are some of our key planting updates in 2021:

Our beautiful mangrove trees in Madagascar have been growing well over the last year! From starting out as propagules that look a bit like sticks, we're so pleased to see them thriving with lots of new, healthy leaves.

Photo from Eden Reforestation Projects.

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Madagascar

Woolly pigs out in the snow at Future Forest Company's Brodoclea site. Since this year's piglets were born there are now over 200 woolly pigs who call this site their home. They are helping to trample bracken and restore biodiversity to the area.

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Scotland

Sam from Ecologi with David from the Future Forest Company, when some of the Ecologi Team visited Brisbane Mains in November. The Ecologi team had a great time visiting the site, and even planted some trees themselves!

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A beautiful new Oak tree planted in Brisbane Mains. This Oak tree, along with all the others funded by the Ecologi community, will play a crucial role in restoring the natural habitat.

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GPS-tagged photo from the Bosawas site in Nicaragua. This site has been fully funded, with almost a quarter of a million trees funded by our community!

Photo from Eden Reforestation Projects.

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Nicaragua

Unfortunately a wildfire destroyed some trees in Changalane. They have since been replaced. The Eden employees responded quickly to prevent further losses.

Photo from Eden Reforestation Projects.

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Updates

Our reforestation projects directly supported 1,026 livelihoods in 2021, either through employment (such as in planting, forest protection and plant nursery staff) or engagement with long-term forest restoration training programmes.
As well as expanding to new sites and partners in 2022, we are looking forward to developing new ways to leverage technology to bring you closer to the projects. You can expect more maps, drone footage, satellite images, and, COVID-permitting, stories from our own team’s visits to some of our supported forest restoration sites.

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The trees we’ve planted this year are young, and are not part of programmes verified to a carbon standard (therefore they cannot be used for carbon accounting or carbon offsetting). However, we do like to help our community to visualise the approximate impact of the trees, quantified in terms of their lifetime carbon drawdown potential. To do this, we’ll use a very simplified illustrative calculation.
Taking the weighted average tree mix across our platform, and peer-reviewed literature for the sequestration potential of healthy ecosystems using the species in this tree mix, we estimate that the figure for emissions to be sequestered by the trees funded by the Ecologi community so far, over their lifetime, is around 2.72 million tonnes &#8211; that’s about equivalent to the emissions produced by four million <a href="https://www.icao.int/environmental-protection/CarbonOffset/Pages/default.aspx" target="_blank" rel="noopener">round trips between London and New York</a>. 
This will likely be the last time we’ll use this back-of-a-napkin approach to totting up the carbon from our trees in our reports, as another of our Impact team’s goals for 2022 is to provide our community with more substantial estimates of the amount of carbon emissions reduction our work is producing, and how we are tracking against our mission to reduce 50% of projected global emissions in 2040, by 2040. There are also new areas of climate impact we hope to introduce to our platform in 2022 as well, with a view to also providing substantiated carbon drawdown estimates for these projects too.

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In December 2021, we passed a huge milestone, reaching 1 million verified tonnes of carbon reductions funded by our community. We’ve been anticipating cracking our first million tonnes of carbon retired since the very beginning, and this will no doubt be the first of many.
By the end of the year, the Ecologi community had funded the reduction of carbon emissions totalling 1,122,621 tonnes, the equivalent of the emissions produced to power over 200,000 American homes for a year, <a href="https://www.epa.gov/energy/greenhouse-gas-equivalencies-calculator" target="_blank" rel="noopener">or to charge a smartphone 136 million times</a>.

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Whilst the number of tonnes of carbon reduced is vital, so too is the quality of the projects our community supports.
We carefully select projects we purchase carbon credits from to make sure our community is having the largest positive impact possible. One thing that helps to identify the best projects, aside from being Gold Standard or Verified Carbon Standard certified, is the number of the UN’s Sustainable Development Goals (SDGs) that a project contributes toward. Every project we support contributes to SDG number 13 &#8211; Climate Action. But we also look at which other SDGs projects contribute toward. 
On average, the carbon reduction projects we supported back in 2020 contributed to 3.67 of the UN’s SDGs, but in 2021, through careful selection of the projects we have funded, we were able to increase this average, so that each project we supported in 2021 contributed to an average 5.11 Sustainable Development Goals.
Aside from SDG 13 (Climate Action), the most common SDG co-benefit among our projects this year was <a href="https://sdgs.un.org/goals/goal8" target="_blank" rel="noopener">SDG 8 – Decent Work &amp; Economic Growth</a> (verified in 71.4% of our projects), followed by <a href="https://sdgs.un.org/goals/goal7" target="_blank" rel="noopener">SDG 7 – Affordable &amp; Clean Energy</a> (64.3%), and <a href="https://sdgs.un.org/goals/goal15" target="_blank" rel="noopener">SDG 15 – Life on Land</a> (42.9%).

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In 2021, we also supported our first project that has been verified with impacts towards all 17 of the Sustainable Development Goals &#8211; a <a href="https://x.ecologi.com/projects/protecting-lowland-peat-forest-in-indonesia" target="_blank" rel="noopener">peatland conservation project in Indonesia</a>. Through multiple local initiatives supporting access to clean water, education, biodiversity and many other things, this project is bringing countless benefits to local communities.
In total, 2021 saw us support 28 carbon reduction projects in 18 countries, with the largest proportion of projects being in South and Central America (29% of projects), followed closely by Southeast Asia (25%).

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Throughout 2021, the Ecologi community supported 10 different kinds of carbon emission reduction projects. The most common project type we supported was <a href="https://drawdown.org/solutions/forest-protection" target="_blank" rel="noopener">forest protection</a>, making up 25% of the projects, followed by <a href="https://drawdown.org/solutions/landfill-methane-capture" target="_blank" rel="noopener">landfill gas capture</a> (18%).
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2022 is sure to be another exciting year for Ecologi. The scale of our community’s impact &#8211; in terms of trees funded and tonnes of carbon reduced &#8211; is only going to increase, and we can’t wait to work with new partners on new projects throughout the year.
As well as all the exciting developments and updates across our platform which we’ve already mentioned, we are also working on expanding the range of climate impact solutions we offer for our community to support. Beyond tree planting and carbon reductions, <a href="https://drawdown.org/" target="_blank" rel="noopener">we know there are plenty more ways</a> we can help our community protect the planet, so keep your eyes peeled for some exciting announcements in the next couple of months.
Finally, as an epic year of collective climate action comes to an end, we want to thank everyone who has contributed to the success of the Ecologi community over the last 12 months. Each and every contribution amplifies our collective impact, and brings the greener and safer planet we all dream of that little bit closer. Together we will continue to drive real climate action in 2022.

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Meet our Impact Team

Ecologi’s mission is to inspire and empower businesses to accelerate global climate action. In everything we do, we’re guided by our company values:
<ol>
<li style="font-weight: 400;" aria-level="1">Planet first</li>
<li style="font-weight: 400;" aria-level="1">Always accountable</li>
<li style="font-weight: 400;" aria-level="1">Change-makers</li>
<li style="font-weight: 400;" aria-level="1">Act, together.</li>
</ol>
Because of our values, we put impact for our climate, nature and people, right at our heart: and this is driven by our Impact Team.

<h2>Meeting the Impact Team </h2>
The Impact Team is responsible for directing our efforts toward meaningful climate action aligned with the latest science and industry best practice. The team’s role encompasses several key areas, including:
<ul>
<li>Ensuring adherence to best practice through our research bases, rigorous due diligence processes, and expert understanding of key sustainability frameworks.</li>
<li>Building and managing relationships with some of the world’s leading implementation partners to facilitate the delivery of high-impact climate solutions.</li>
<li>Delivery of emissions measurement and reporting projects, assisting customers with data collection, emissions calculations, and helping them identify effective decarbonisation strategies.</li>
<li>Engaging with academia, including the stewardship of the Ecologi Climate Committee — our advisory network of academic and industry experts on topics relevant to our work.</li>
<li>Providing climate and sustainability expertise and strategic guidance to align our products and services with the latest in environmental science and industry best practices and to guide our internal policy.</li>
<li>Driving our industry forward through participating in industry advisory groups, policy advocacy groups, consortia and alliances with Ecologi’s peers and partners in corporate sustainability, </li>
<li style="list-style-type: none;"></li>
</ul>
In this article, we’ll meet the team making it all possible!

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<h2>Sam Jackson, Director of Climate Science &amp; Impact</h2>
MSc, MA, PIEMA REnvP, FRSA
Sam is department lead for Impact at Ecologi, and a member of Ecologi’s senior leadership team. He is responsible for providing climate and sustainability expertise and strategic guidance to the business, with the priority of aligning Ecologi’s products and services with the latest in environmental science and industry best practice. Sam is an advisor to a number of industry groups and a regular speaker at sustainability industry events.
Sam has a varied background in climate science, international operations, development, and environmental governance. In his early career, he worked primarily in the charity and sustainable tourism sectors before moving permanently into climate and corporate sustainability. Sam holds Master’s degrees in International Relations and Climate Change Science and Policy from the University of Exeter and the University of Bristol. He is a Practitioner Member of IEMA, a Registered Environmental Practitioner with the Society for the Environment, and a Fellow of the Royal Society of Arts.

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<h2>Eleanor Turner, Climate Solutions Manager</h2>
MSc, BSc, PIEMA 
Eleanor has a senior role within the Impact team, helping to guide our strategic direction and shape our theory of change, as well as supporting the team across all Impact functions. Eleanor leads much of our external engagement with academia, including managing the Ecologi Climate Committee: our advisory network of academic and industry experts across a wide range of topics relevant to our work. She also works cross-functionally around the business, to drive much of Ecologi’s own internal sustainability efforts.
Eleanor holds a Master’s degree in Environmental Science from the University of York, in addition to a Bachelor’s degree in Environmental Geography. Eleanor’s career began as a sustainability consultant within the engineering and construction industry, focusing on BREEAM assessments and decarbonisation across the public sector. Eleanor then moved to an in-house sustainability role within the consumer goods industry, focused on internal sustainability strategy and greenhouse gas inventory management, before joining Ecologi as our Climate Solutions Manager.

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<h2>George Gibson, Senior Carbon Accounting Manager</h2>
George provides technical expertise to support the development of the carbon accounting methodology underpinning our Ecologi Zero platform for businesses. George also leads the consultative delivery of emissions measurement and reporting projects with our customers, guiding them through data collection and helping them to identify decarbonisation strategies. Key to his role is ensuring compliance with the relevant standards and that the tool provides a comprehensive and accurate account of a business’ emissions.
With a degree in Economics and Management from Cardiff University, specialising in economic development, George has previously worked as a sustainability consultant providing insight into compiling greenhouse gas inventories to measure and report emissions, developing decarbonisation strategies, setting Science-Based Targets and supporting businesses in attaining B Corp certification.

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<h2>Katie Pownall, Impact Partnerships Manager</h2>
MBiol, MRSB, ACIEEM
Katie works closely with Ecologi’s reforestation and other implementation partners, ensuring that funding from our community goes to the best projects, and sharing stories about the projects with the Ecologi community. As Ecologi continues to grow, Katie is helping to identify new types of impact projects, enabling Ecologi customers to fund cutting-edge climate action with some of the most well-respected organisations around the world.
Katie has a Master’s degree in Biology from University of York, where she focused on ecology and conservation, and during which she worked in the North York Moors National Park’s Conservation department, where she gained knowledge about protected species, habitat management, and on-the-ground conservation work. This  hands-on experience combined with her understanding of the theory of conservation and ecology helps Katie to guide Ecologi’s decisions so that we optimise our positive impact on people, biodiversity, and the planet.

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<h2>Lucy Gemmell, Carbon Portfolio Manager</h2>
In her role as Carbon Portfolio Manager, Lucy drives our in-house due diligence to identify top-tier carbon avoidance and removal projects, manages our relationships with project developers, and helps to educate customers in ensuring they are communicating about their impact correctly. In her work, she manages our relationships with a number of our key strategic impact partners including Sylvera and Earth Blox. Lucy originally joined Ecologi in 2022 as part of our Commercial team and spent a year working cross-departmentally, immersing herself in the voluntary carbon market before transitioning permanently into the Impact team. 
Lucy has a diverse background, having managed a boutique real estate brokerage in her earlier career and chaired the board of an education-based NGO in Johannesburg, South Africa. She is currently pursuing a Master&#8217;s degree in Climate Change and Development, following the recent completion of an ESG Specialisation from the Corporate Finance Institute.

Alongside the Impact team, we have some incredible individuals who assist us in reaching our goals and supporting our work. Collaboration is at the heart of everything we do, and their contributions help us stay on track and maintain momentum.

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<h2>Monsoon Modi, Commercial Operations Executive</h2>
Monsoon originally joined Ecologi in 2022 as part of our Customer Success team and spent a year working cross-departmentally before moving into the Commercial team, now as an Operations Executive. 
Key to her role is optimising commercial projects, building commercial resources and providing support for small businesses along their sustainability journey. Monsoon also supports the Impact Team with internal educational material, project reports and administrative tasks. 
With a degree in Politics and International Relations, Monsoon is currently pursuing a Master&#8217;s degree in Environmental Sustainability at the University of Edinburgh.

<h2>Climate Committee </h2>
Ecologi’s Climate Committee was founded in 2021 to bring together industry experts and research professionals who sit outside of the business to bring specialist knowledge and support to maximise our climate impact. Our committee members bring best-practice thinking, and ongoing developments with regard to global climate science, carbon accounting methodology, nature-based projects and the voluntary carbon market through our three working groups, Nature, Climate and Policy.
The committee supports the Impact team through providing expert knowledge across specialist fields which help shape the future of the team, and the wider business. In turn, this improves our internal decision-making and strategy development through staying at the forefront of industry developments and innovation.

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Case studies

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Case study: the Focusrite Group

<h2>About the Focusrite Group </h2>
<a href="https://x.ecologi.com/focusritegroup" target="_blank" rel="noopener">Focusrite</a> is not your average audio technology group. This passionate bunch is united by a single objective: to smash through barriers and unleash boundless creativity in the world of sound.
Founded in 1985 and based in High Wycombe, this team of over 500 is on a mission to remove barriers to creativity. And they believe that technology can play an important role in breaking down other barriers too, including geographical, social, economic, and even environmental. 
Focusrite is an organisation that’s driven by purpose, with a keen desire to be a force for good in the world. Responsible practices are an essential part of how they do business, and that includes keeping a keen eye on their impact on the environment.

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<h2>Issue</h2>
Focusrite has been working to reduce its environmental impact for many years and in 2020 developed a carbon accounting process that now provides near real-time data on Scope 1, 2, and 3 GHG emissions.
This progress has allowed the team to set goals, but they are in the process of applying to set Science Based Targets (SBT) to replace them. In the meantime they are already aligning their approach with SBT guidelines. 
As a UK-based company, Focusrite is committed to 2050 as the ultimate deadline for net-zero, but they want to get there quicker. So their approach is not to set a net-zero target year until they have gone through the SBT application process by 2026 at the latest, and instead use carbon reduction metrics and targets to set them up for long-term success.

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<h2>Challenges</h2>
The team at Focusrite use emissions data to guide action, and their emissions are largely dominated by their hardware products, which account for 96% of GHG emissions. 
They have already made good progress in reducing the use of aluminium, plastic, and product packaging, with many more areas under review. As they roll out changes across their product range, the team aims to increase the pace of their reductions, with any new products being designed from more sustainable materials from the start.
Focusrite is striving to become a sustainability leader in its industry, setting the standard for peers to emulate. Environmental stewardship is a big part of that, and the message from the entire employee base is that they want to support nature beyond their value chain. This is why they reached out to Ecologi to help them do more good for our planet.

<h2>Solution </h2>
Focusrite has worked with Ecologi since 2021. Ecologi supports the team to fund tree planting for internal initiatives like employee charity fundraising, but also to offset the wood used in their products. The wood used is already FSC certified, so by planting trees with Ecologi they replace more than they consume. 
Focusrite also works with Ecologi to support projects to mitigate any remaining Scope 1 and 2 emissions they can’t avoid. So far they have funded 17 projects, including a solar power project in Morocco, supplying high efficiency cookstoves in Somalia, and preserving Amazonian rainforest in Brazil.
The team isn&#8217;t shy about sharing Focusrite’s success. They talk about their climate impact prominently in their annual report and employee newsletter, and dive into the details in their dedicated environment and climate reports. 
Taking such positive climate action has boosted Focusrite’s reputation with customers and colleagues alike. They have enjoyed press coverage for their tree planting, which positioned them as a leader in their industry, and they have even had employees join the company purely because of their environmental sustainability programme.

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<h2>Outcome</h2>
Since 2021, the Focusrite Group has funded the planting of 89,080 trees, supported the prevention of 132 tonnes of CO2e from being emitted, and funded the removal of 81 tonnes of CO2e from the atmosphere. In total 17 different projects have been funded.

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<h2>Is your business ready to take climate action?</h2>
If this article has inspired your business to start its climate journey, talk to our team today.

Schedule a call with our team

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What happened at COP29

This year’s Conference of the Parties is underway in Baku, Azerbaijan and will run until the 22nd of November. Our team at Ecologi are monitoring the daily events to give you real-time analysis and reactions to the developments and agreements taking place. 
What is COP29? Click <a href="https://x.ecologi.com/articles/uncategorised/what-to-expect-at-cop29" target="_blank" rel="noopener">here</a> for a comprehensive guide to all things COP29. 
What happened at COP28? Click <a href="https://x.ecologi.com/articles/blog/whats-happening-at-cop28" target="_blank" rel="noopener">here</a> to read a full report of the event in 2023.

<h2>Overall sentiment &#8211; COP29 wrap-up</h2>
The overall sentiment at COP29 reflects a little bit of progress and an awful lot of frustration. As is often the case at the climate COPs, any progress that does get made is often overshadowed by the missed opportunities – and this one is no exception on that front.
The largest positive from this COP is in the agreements made on operationalising carbon market standards under Article 6 of the Paris Agreement. This consensus signals hope for greater transparency, higher standards, and clear opportunities for businesses to engage in global climate action projects, in a new carbon market managed under the UN framework. These draft documents on Article 6 were published on the first day of the COP and have stayed relatively static since then – indicating that agreement was achieved early. They did come under criticism though, with the Presidency offering up documents to be accepted as-is, with no opportunity for countries to scrutinise the wording.
The COP as a whole, and its broader negotiations on a range of other topics, have been marred by tensions, frustrations, and geopolitics. Proceedings were thrown somewhat, by world leaders disappearing from the world leaders’ summit at the conference and reconvening in Brazil (next year’s COP host country) for the G20 – leading to <a href="https://www.gov.br/planalto/pt-br/media/18-11-2024-declaracao-de-lideres-g20.pdf" target="_blank" rel="noopener">a multilateral G20 declaration</a> which seemed to both celebrate and chastise the country negotiators back in Baku. 
Geopolitics making things difficult – COP29 has taken place against a backdrop of heightened geopolitical tensions between a wide range of countries, which have diverted attention and resources away from climate action and have complicated negotiations. Add to that the problems coming from the COP itself – from country boycotts, to backhanded oil and gas deals, to threats to drop out of the Paris Agreement by Argentina (a threat which was later clarified as rescinded) and by the USA (which is likely to be upheld under the incoming administration) – and it’s easy to wonder how nearly 200 countries can be convinced to agree on anything at all. Let alone an issue with the gravity, urgency, and complexity of climate change.
Poor management by the Presidency – if you’ve followed our daily coverage you’ll have spotted over the past two weeks how this COP has felt quite chaotic and frenetic. It hasn’t really felt throughout proceedings that the Presidency is in control of things – and this applies on the diplomatic level but also in a practical sense, with uncomfortable stories coming out of the conference centre about poorly-managed bathroom facilities and catering. On the draft decisions, the Presidency’s strategy has been cavalier and uncharitable, with something of a ‘take-it-or-leave-it’ attitude to negotiations which isn’t helpful or conducive to compromise. On the last day of the COP, the Climate Action Network awarded the Azerbaijani Presidency their Fossil of the Day award because it “doesn’t understand the gravity of the Presidency, or for that matter the value of civil society”. This is a damning assessment, but one which is hard to disagree with.
Somehow, fossil fuels are still the elephant in the room – we heard from UNEP before COP29 started that <a href="https://www.unep.org/resources/emissions-gap-report-2024" target="_blank" rel="noopener">global emissions are still rising</a>, driven by continued fossil fuel use – and yet COP29 has failed to advance any fossil fuel reduction commitments. In Dubai last year, we saw the agreed cover text mention the “phase-down of unabated coal power”, the “transitioning away from fossil fuels in energy systems” and the “phasing out inefficient fossil fuel subsidies” (which was pretty weak in itself). This year, the fossil fuel lobby was typically massive – with over 1,700 fossil fuel lobbyists in attendance. Despite the overwhelming scientific evidence showing that fossil fuels must stay in the ground, the dominance of fossil fuel interests has continued to undermine progress, with the Arab Group in particular this year refusing to back any texts that reference the phasing out of fossil fuels. The COP29 texts on the UAE dialogue and the Mitigation Work Programme (which ought to have been used to further the outcomes of last year’s Global Stocktake) were meant to enhance climate mitigation. The final version of the MWP fails to mention the transition away from fossil fuels, the 1.5ºC warming goal or the Global Stocktake and its outcomes, and the UAE dialogue on how to proceed on the Global Stocktake wasn’t adopted at all. Interestingly, the earliest drafts did mention the 1.5ºC warming goal and the seriousness of 2023 being the warmest year on record. As the drafts progressed this messaging was removed, despite many calling for the final text to be more ambitious and specific. A deal on the MWP was adopted during the closing plenary session without any intervention. 
Article 6 and UK government provide a few reasons to be positive for businesses 
Whilst the overall sentiment at this year’s COP29 has been disappointment, particularly regarding the pace of global climate action and the lack of firm commitments from key global players, there are still some glimmers of hope for businesses. Among the more promising developments is the aforementioned progress on Article 6 of the Paris Agreement and the UK government’s climate commitments. The outcomes on Article 6 pose a step forward for businesses. By advancing frameworks for international carbon markets, COP29 has created a clearer pathway for companies to engage in high-quality carbon offsetting and trading, fostering transparency and credibility in the process. This opens up new opportunities for organisations globally to progress towards net-zero targets whilst supporting climate action projects and global emission reductions. 
The UK government’s renewed focus on climate policy has created incentives such as increased funding for green technology, support for nature based projects and streamlined regulation for sustainable investment, catalysing innovation and market growth. The developments at COP29 have reinforced the role of businesses as a key actor in the fight against climate change when world leaders fall short on agreeing ambitious climate goals. Through embracing innovation, adopting bold emission reduction targets and funding climate action, companies can fill the leadership gap and accelerate progress where governments falter.

COP29 - Daily updates 

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The two-week conference, scheduled for November 11th-22nd will bring together representatives from all countries that have agreed to be bound by the UNFCCC. The conference takes place annually to negotiate new measures, develop policy and review progress against the goal of limiting climate change.
Azerbaijan, the host nation, has received its fair share of criticism for becoming this year’s COP president. Oil and Gas make up 92.5% of the country’s GDP per capita, and President Ilham Aliyev has stated his support for oil and gas producing nations to continue investing in the sector, clashing with last year’s COP28 outcome in which all nations called for accelerating the transition away from fossil fuels.

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<h2>The key talking points and priorities in the run up to COP29</h2>
This year, priorities are focused on climate finance, with COP29 being coined the Finance COP, this is reiterated by the programme of scheduling with Finance, Investment and Trade taking priority spot on the first day of discussions.
Energy and Science are also high on the agenda, while Nature and Biodiversity and Oceans and Coastal Zones take more of a back seat, only being scheduled for the final day before negotiations; naturally, this comes as a disappointment as this signals these areas of discussion are considered lower priority when compared with energy and finance.
It is likely momentum and attendance will decrease by the end of week two and could undermine the urgency needed to address the implications of climate change on nature globally and reduce their integration into wider climate strategies.
The following key priorities are expected to lead discussions at COP29;
<h3>New Collective Quantified Goal (NCQG)</h3>
Developing countries, particularly those most vulnerable to climate change, require substantial financial support to transition to green economies and adapt to climate impacts. COP29 aims to agree on a new commitment to provide annual climate finance to developing countries, replacing a goal of $100 billion per annum set in 2009 at COP15. The World Economic Forum states that ‘the NCQG must be ambitious yet realistic, balancing the financial capacities of developed countries with the urgent needs of developing nations’.
<h3>Growing the loss and damage fund</h3>
Established and operationalised at COP27 in Sharm El-Sheikh, the loss and damage fund acknowledges the disproportionate burden that climate change places on vulnerable nations. It is a financial mechanism that helps countries cope with the loss and damages they face due to climate change – this includes loss of life, damage to infrastructure and displacement.
At COP29, there is hope to see significant progress in the fund’s operationalisation and funding. Countries are expected to make substantial pledges to the fund to ensure it can meet the needs of developing countries. To date, major contributors include the UAE, Germany and the United States. Other big-emitting countries such as China and Saudi Arabia are yet to announce their intention to contribute to the fund.
<h3>Nationally Determined Contributions (NDCs)</h3>
At COP29, nations will be encouraged to commit to more ambitious and robust Nationally Determined Contributions; these are climate action commitments made by countries to reduce their greenhouse gas emissions and contribute to climate change mitigation, aligning with the goal of limiting global warming to 1.5 degrees Celsius.
NDCs are submitted every 5 years to the UNFCCC, and with the next global stocktake approaching NDCs are to be put forward by February 2025, demonstrating increased ambition and concrete action plans. At COP29, there is likely to be a push to provide financial and technical support to developing countries to enable them to outline and implement NDCs of their own.
<h3>Article 6 of the Paris Agreement</h3>
Article 6 of the Paris Agreement aims to promote the use of carbon markets to achieve their climate targets. At COP29 we can expect discussions with regards to how a robust and well-regulated international carbon market can be developed and maintained. A key goal of COP29 is to finalise the rulebook for Article 6, which will provide clear guidelines for its implementation, and address concerns with regards to the quality of carbon credits, double counting and sustainable development.

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<h2>Who is attending COP29</h2>
With just 2 months to go until COP29 kicks off, there has been minimal discussion with regards to which World Leaders we can expect at the event.
From the UK, Ed Miliband, the newly appointed Secretary of State for Energy and Net Zero, is confirmed to be leading UK negotiations for COP29. However, with the USA election taking place just 5 days before COP29 begins, it is unlikely that the President will be in attendance. As the event draws closer, we can expect more countries to confirm which delegates will attend.

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<h2>What to expect during COP29</h2>
An anticipated 40,000 participants are heading to COP29, almost half the number of attendees than at <a href="https://x.ecologi.com/articles/blog/whats-happening-at-cop28" target="_blank" rel="noopener">COP28</a> in Dubai last year; this poses the question of if bigger is necessarily better, fewer attendees reduce the environmental impact of the conferences, with the UN Climate Chief Simon Stiell <a href="https://www.climatechangenews.com/2024/04/24/peak-cop-un-looks-to-shrink-baku-and-belem-climate-summits/" target="_blank" rel="noopener">saying he hopes to see fewer people attending COPs </a>as size does not necessarily translate to the quality of outcomes.
COP29 still presents a crucial opportunity to make significant strides in climate action, by focusing on climate finance and reaffirming climate goals, countries can collectively work together to provide the funding and tools necessary to shape the trajectory of global climate efforts.

<h2>Partner with us for COP29 and beyond</h2>
Over the next 12 months we want to support as many businesses as possible to tackle climate change.
If your business is interested in a partnership to help scale climate action or starting its climate journey during COP29 or beyond, get in touch.

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