The climate market has the potential to grow from US$ 10 billion to US$ 500 billion in yearly revenues within 20 years, generating 500 million additional jobs worldwide, especially in poor, rural areas for small-scale farming families. This is achievable through what I call a process of “insetting”.
It is an outdated conception to believe that companies can go on developing, disconnected from the natural and social ecosystems they in fact depend upon. The way companies offset is also outdated, with offsetting projects being totally disconnected from the companies’ activities.
Insetting, on the other hand, means reinforcing the social and environmental ecosystems that a company depends on by developing climate mitigation and adaptation projects within its core business. This brings in social and environmental innovation in the same way any technological or marketing innovation can bring benefits to the company. It also creates new processes, companies, products, jobs, etc., while protecting the planet and helping disadvantaged communities to be more resilient.
Insetting is not a one-shot CSR commitment; it should be the core of the business and embedded in the company’s processes. Its benefits go beyond the company itself, as the value created is shared by all stakeholders: investors, employees, consumers, producers and the planet. It contributes to the creation of significant and long-term employment opportunities for disadvantaged populations to manage large-scale ecosystem regeneration projects upstream.
Insetting involves companies establishing global climate programmes, with energy reductions being reinvested in ecosystem regeneration activities. This generates huge savings for companies whilst mobilizing funds for ecosystem projects, which in turn secure the supply chains and the business of these same companies. Since projects are integrated, they gain strong legitimacy and develop faster. This is a privileged way to reconcile economic growth with environmental protection
Insetting is the future of climate change, ecosystem conservation strategies and industries. It is a way to create positive growth and additional jobs.
Author: Tristan Lecomte is the founder of Pur Projet which assists companies in developing “insetting” activities : offsetting the environmental and social footprint of a company locally and within its own supply chains, products and services. Tristan was named a Young Global Leader by the World Economic Forum in 2008.
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