Are circular economy businesses DISQUALIFIED from voluntary carbon markets by default?

Carbon markets are a powerful tool to accelerate climate action ...and enable businesses offering solutions to avoid, reduce and remove GHG emission to stay afloat while they grow (think Tesla who had earned more from carbon markets than from its EV sales ).

It is therefore no surprise that there is interest among circular economy players to tap into this revenue stream. After all, by implementing circularity, they would be avoiding, reducing or removing emissions.... So, it should qualify as being able to earn from carbon markets, right?

Sorry, but NO.

Gatekeepers to Voluntary Carbon Markets

The way that carbon market are set up and the principles they follow means that monetising from the carbon markets is a bit more sophisticated than just knowing that your solution could avoid, reduce or remove emission. There is the verification of your measurements, additionality, permanence, leakages etc etc etc ... And above all, an ultimate gatekeeper that decide if your solution can monetise from carbon markets or not is.... Accepted Methodology.

So is circular economy practices and business models recognised in the existing Accepted Methodology? Or are they already disqualified from the carbon market from the get go?

CBASS inspires study on CE representation in VCM methodologies

Circular Business Association inspired a Masters Thesis student in 2022/2023 from Cranfield University (United Kingdom) to study the circular economy representation in Voluntary Carbon Market methodologies. The student studied the Verra and Gold standard methodologies to shed light on the two questions above.

The study team will be co-authoring a paper with the association based on this thesis for journal submission in coming months.

Read the abstract with main findings at:

Tejas Rajput_ Cranfield MSc Thesis_Abstract_Assessing the current representartion of circu

.

Download • 27KB

Article by: Lijin Chin

Updated: 2 November 2023

Are you perpetuating greenwashing in your work? - How to know? What to do about it?

Greenwashing happens when a company makes an environmental claim about something the organisation is doing that is intended to promote a sense of environmental impact that doesn't exist. The green claim is typically about some form of positive effect on the environment.

But how do you know if you are actually doing greenwashing in the work you do?

Use this quick checklist to check for the 3 signs that you may be greenwashing and the 5 things you can do about it.

Greenwashing Radar Checklist

.pdf

Download PDF • 141KB

If you haven't seen our snippet videos on this topic and how Circular Economy is a useful 'radar', check out these LinkedIn posts.

Greenwashing Radar #1

Greenwashing Radar #2

Circular Economy as a Super Radar

Greenwashing Radar #3

More Story without Action or Accelerated Action with Story? - Touching base with Marketing Professionals on the topic of Greenwashing

We had the pleasure of delving deeper into this topic with a webinar titled: "Circular Economy in Marketing: The Power to Accelerate Sustainability and Avoid Greenwashing" in a webinar co-organised with the Indonesia Marketing Association (IMA) on Sep 1, 2023. This is part of an on-going CBASS Taskforce Project efforts to draw in more talents and grow the Marketing, Communications and Engagement ecosystem domain that support circular players in accelerating climate action.

Speakers :

Samuel E. Pranata, Vice President (Sustainable) of Indonesia Marketing Association (IMA)

Lijin Chin, Chairperson of Circular Business Association (CBASS)

Lewis Chong, Senior Managing Partner of ACMF International Private Fundraising

Suzy Giles, Associate Partner, ESG Communication of ERM

Lee Ali, Founder of Expo Stars Interactive

Moderator:

Dr Andi Nur Bau Massepe, Lecture of Hasanuddin University

See our next webinars at Events

[Press Release] CBASS welcomes formation of Malaysian National Circular Economic Council

FOR IMMEDIATE RELEASE

Contact: Shakila Rajendra Secretary contact@circularbusinessassociation.org

Photo by Andrea Zanenga on Unsplash

[Kuala Lumpur, 9 September 2023] – The Circular Business Association (CBASS) welcomes the announcement that the Malaysian government has formed a National Circular Economic Council (NCEC). The council will be responsible for matters related to policies, laws, implementation of related strategies and action plans and the commitment and collaboration between the government and the private sectors, to create a holistic circular economy in Malaysia.

“We are very pleased to see the government taking this important step,” said Lijin Chin, Chairperson of CBASS. “The circular economy is a critical pathway to achieving our sustainability and climate goals, and we are committed to working with the NCEC to make it a reality.”

CBASS believes that the private sector needs to be deeply involved in the development of the circular economy. “Until sustainability is profitable, it is not sustainable,” said Lewis Chong, Vice-chairperson of CBASS. “The circular economy addresses both the environmental and economic needs of society, and it is the private sector that will ultimately need to make it work.”

CBASS, also known as Persatuan Perniagaan Ekonomi Kitaran Malaysia, is a registered society under the Registrar of Societies in Malaysia since 10 May 2022. Its mission is to solve the climate crisis and create a liveable world through accelerating business transition into a circular economy. CBASS is an ecosystem builder that aligns various solution providers globally using the circular economy framework to fill the implementation needs.

“We are the ‘Who’ that get implementation done,” said Lijin Chin. “We bring together global expertise and network that can support bodies like the NCEC develop and implement policies that will create a thriving circular economy.”

The NCEC is a welcome development, and CBASS is committed to working with the government to make it a success. We believe that the circular economy is the key to a sustainable future for Malaysia, and we are excited to play a role in its development.

Read more about Circular Business Association and its activities at www.circularbusinessassociation.org or by follow our LinkedIn page at https://bit.ly/cbass-linkedin

Read the news article announcing the formation of the National Circular Economic Council at https://www.nst.com.my/news/nation/2023/09/952091/national-circular-economic-council-set-handle-solid-waste