November 17, 2022

Bridging the corporate ambition gap

Find out about our report written with Robert Höglund and the webinar discussing scaling corporate funding for carbon removal.

On 16 November, we hosted a webinar to mark the launch of our report ‘Bridging the Ambition Gap: A framework for scaling corporate funds for carbon removal and wider climate action’, co-authored by Robert Höglund (Marginal Carbon AB, Milkywire) and Eli Mitchell-Larson (Carbon Gap).

Robert Höglund presented key insights from the report, highlighting new analysis on how corporate climate action can be benchmarked and the large contributions in spend that could be unleashed towards high impact climate projects. Here is a copy of his presentation.

Bea Natzler at the Climate Change Committee (CCC), gave a short overview of the CCC’s work on voluntary carbon offsets and their role in corporate net zero action. The CCC is a UK independent statutory body established under the Climate Change Act 2008 to advise the UK and devolved governments. Bea outlined the case for stronger government guidance, regulation and standards to ensure carbon offsets are not used as a substitute for direct business emissions reduction, and to improve the integrity and transparency of carbon credits. For businesses, Bea encouraged support towards high integrity removals and transparency over the offsets used for emissions reduction claims, while emphasising that organisations should focus on reducing their direct emissions as a priority.

Next we turned to a lively panel discussion on the themes of the report between Zeke Hausfather (Stripe), Salah Said (Klarna), Scarlett Benson (Science Based Targets Initiative), Prof. Henry Shue (Oxford University) and moderator Eli (Carbon Gap). The panel provided insights on the impactful contribution companies can make beyond focusing on carbon accounting within their own value chains. The audience enjoyed a stimulating debate on the ideal level of regulation for corporate climate contributions, and submitted their own questions to our panel.

Catch up on the webinar here!