In September, the largest annual climate event in the United States took place in New York: The Climate Week NYCorganized by “The Climate Group”. At the same time as the United Nations General Assembly (UNGA) This event brought together business leaders, policymakers, government officials, scientists, technologists, activists and change makers from around the world to discuss a shared mission: driving climate action. This year’s theme, “It’s time,” underscored the urgency, while record temperatures and escalating climate catastrophes highlight the need for immediate action.
In addition to participating in various events throughout the week, EcoAct hosted its own session on the voluntary carbon market, which attracted business representatives, project developers and industry experts. Here is a summary of the most relevant Climate Week 2024 events our team participated in:
Navigating the Voluntary Carbon Market: Integrity and Maximizing Return on Investment (ROI)
(hosted by EcoAct)
William Theisen, CEO of EcoAct North America
Our panel, led by William Theisen, CEO of EcoAct in North America, featured a selection of industry experts including Teodora Kaeva (VCMI), Sam Israelite (Bain), Mathilde Mignot (EcoAct), Thomas Blackburn (SustainCERT) and Lorna Ritchie (ICVCM). The event focused on the importance of integrity and innovation in the Voluntary Carbon Market (VCM). A recurring theme was the need for robust monitoring and transparency on both the supply and demand sides to reinforce the market’s commitment to integrity-based carbon reduction.
Panelists examined regulatory compliance from a buyer and provider perspective and highlighted how new innovations (e.g. digital verification tools) can improve the accuracy of carbon offsetting projects. With the VCM at a turning point, the consensus was clear: continuous improvements in project evaluations and managing increasing demand are essential for the market’s sustainable growth. Initiatives such as the Voluntary Carbon Markets Integrity Initiative (VCMI) and the Integrity Council for the Voluntary Carbon Market (ICVCM) are critical to building trust and promoting responsible carbon finance to achieve a Net Zero economy.
RE100 Changemaker Award for EcoAct’s parent company Schneider Electric
EcoAct’s parent company, Schneider Electric, received the prestigious RE100 Changemaker Award 2024 by “The Climate Group”. This award was given to Schneider Electric for its groundbreaking efforts to utilize the tax portability provision of the US Inflation Reduction Act to promote renewable energy development in North America. Schneider Electric is the world’s largest and most experienced energy transition consultant. The RE100 Changemaker Award recognized Schneider Electric’s ability to create innovative ways for companies to invest in a diverse portfolio of renewable and clean technology projects to accelerate the transition to a decarbonized future. There is a video about it here to find.
IETA climate summit
(organized by IETA in collaboration with ICAP)
Chimdi Obienu, Senior Research Consultant
EcoActor Chimdi Obienu attended the IETA North America Climate Summit. This was an opportunity for carbon market professionals, experts and government officials to deepen their understanding, connect and collaborate to advance climate action and finance transformation in the face of changing carbon prices and regulations. Chimdi pointed to strong industry consensus regarding the need for project integrity to scale VCM.
The Integrity Council for the Voluntary Carbon Market (ICVCM) plays a critical role in ensuring credit quality. Experts warned against limiting procurement to relief credits, which could hinder investment in essential reduction projects such as REDD+ and sustainable aviation fuel (SAF). Despite uncertainties surrounding policies such as Article 6 and the core principles of the ICVCM, there was a common understanding that early participation in the Voluntary Carbon Market remains essential for long-term climate strategies.
Accelerating a just energy transition through innovative carbon financing mechanisms
(hosted by VCMI)
Mathilde Mignot, Vice-Chair ICROA & Group Director, NBS EcoAct
Mathilde Mignot from EcoAct took part in a panel hosted by Integrity Council for the Voluntary Carbon Market (ICVCM)the Voluntary Carbon Markets Integrity Initiative (VCMI), and the Global Carbon Market Utility (GCMU) and focused on the role of carbon finance in accelerating the energy transition.
Mathilde discussed the importance of digitalization and collaboration between the public and private sectors to address Scope 3 emissions and improve data traceability. She also highlighted the Energy Transition Accelerator (ETA), which aims to achieve large-scale emissions reductions and promote innovation in carbon-intensive industries.
Business Adaptation Planning Workshop
(hosted by World Business Council for Sustainable Development)
Morane Senyarich, Sustainability Senior Consultant
The World Business Council for Sustainable Development (WBCSD) works with companies, including EcoAct’s parent company Schneider Electric, to develop guidelines for designing and implementing business adaptation and resilience plans. During the workshop, participants reviewed a new adaptation planning process aimed at helping companies balance investments between decarbonization and adaptation. The event highlighted the need for standardized methodologies and data to better assess the financial viability of resilience investments.
