Virtus: Climate Goals, Corporate Roles, and the Power of Finance
Welcome to the March Virtus newsletter!
After the wild ride that was January and February, March brought a new wave of urgency – and clarity. From questions about how small businesses can take climate action to deep dives into the role of philanthropy, we’ve been thinking a lot about how change actually happens (and who’s driving it).
In Our Take, Jay explores net zero for companies and breaks down corporate climate action in a way that’s approachable and actionable.
On our podcast Untangling Climate Finance, Sacha Spector of the Doris Duke Foundation unpacks the power of philanthropy in scaling environmental solutions.
In What We’re Absorbing, we share new insights on carbon markets, offsetting, and the emotional weight of climate-driven choices.
And in this month’s Opportunity Showcase, we’re again highlighting carbon credit credits from ReSeed and the Savory Foundation.
Finally, don’t miss our roundup of Climate Finance Deals – from cookstove guarantees in Kenya to a €500B budget shift in Germany.
March may be wrapping up, but momentum is only building. Let’s keep moving.
All the best,
Gordian Knot Strategies
We are Igniting Climate Solutions: Mobilizing $1 Billion Per Year in Impact Investment by 2030!
By: Jay Tipton
I recently had a friend who owns a small business ask how his company could become “net zero.” This term was completely new to him – he had heard it before but didn’t fully grasp what it meant. He understood it was about sustainability, but beyond that, he wasn’t sure where to start. I explained the basics and gave him a few pointers. But it dawned on me that I am so deep in the climate finance space, constantly surrounded by experts who understand climate change, sustainability, and corporate action in detail, that I sometimes forget people outside of our space are still learning. That conversation prompted me to explore this topic in a comprehensive way, to provide a structured overview of corporate greenhouse gas (GHG) reduction efforts, the key players involved, and the broader impact of these actions on business and the planet.
I’m always beating the drum – climate change poses one of the most significant threats to our planet. The role of corporations and businesses in this crisis is undeniable, as they are responsible for a significant share of global emissions. However, they also have an opportunity to be part of the solution. By adopting sustainability strategies, companies can mitigate their environmental impact while also gaining financial and operational benefits.
This paper explores corporate GHG reduction efforts, the role of organizations in guiding emissions reduction strategies, and the overall performance of businesses in meeting climate targets. It looks at practical strategies, challenges, and opportunities companies face as they work towards a greener future.
To read the rest of this paper, click here.
Client Served in the United States:
In 2020, we were engaged for our Climate Solutions Strategy & Advisory Services to conduct a carbon sequestration performance assessment of a touted golf resort in the U.S. We determined the greenhouse gas emissions profile for the golf resort based on sources and emissions present on the property that included electricity use, renewable energy present, mower gasoline volumes, and fertilizer levels applied among others. Based on our site visits, data collection, carbon inventory, modeling, and literature research we furnished several recommendations to the course owner. The implementation of our recommendations was designed to assert the leadership role of the golfing destination in the climate responsibility space for golf. The links-style of course that you have developed—where natural landscapes and low-impact development are integrated as key features—signals your commitment to being a responsible steward of the land.
“It was an absolute pleasure to work with Sean and the whole Gordian Knot Strategies team on our project. The GKS reports were of very high quality and fully comprehensive.”
Henry Rowlands – CEO, Soil in Formation
🎙️ In this episode, Jay and Sacha Spector, Director of Environment at the Doris Duke Foundation, explores how philanthropy is shaping conservation finance.
Sacha discusses land protection, Indigenous-led stewardship, and climate-smart forestry, as well as the challenges of financing nature-based solutions in a shifting political landscape.
Click any of the links below to listen!
Below is a curated selection of standout opportunities brought to you by GKS’s valued clients.
ReSeed: Agriculture Carbon Credits
ReSeed partners with smallholder farmers globally, helping to improve livelihoods, protect vital lands, and ensure ecosystem services are properly recognized and rewarded. Through these efforts, ReSeed generates agricultural carbon credits that drive sustainability. Click here to explore their projects.
Savory Foundation: Carbon Removal Credits – Uruguay Grasslands Regeneration Project
The Savory Foundation along with the Savory Institute, Pampa Oriental, and Cultivo are now offering nature-based carbon removal credits from their Uruguay Grasslands Regeneration Project. This groundbreaking project spans 140,000 hectares across 166 privately held properties, employing Savory’s Holistic Management framework to restore grasslands while supporting local communities and ecosystems.
The project, under Verra’s VM0032 Methodology for Sustainable Grasslands, anticipates an annual issuance of around 152,000 credits, beginning in 2026, and addresses the UN’s Sustainable Development Goals – 8: Decent Work and Economic Growth, 13: Climate Action, 15: Life of Land, and 17: Partnership for the Goals.
To learn more about this project and its impact, click here.
If you want to connect about the project, email us here.
This month, we absorbed hard truths on EU carbon market flaws, corporate offset issues, and climate-driven reproductive anxiety – insights that challenge how we approach climate action and justice.
📚 It seems like everyone I know is having kids — but not everyone feels so certain about parenthood in the face of climate change. In Climate Anxiety and the Kid Question, Jade Sasser explores climate-driven reproductive anxiety, centering race and social justice in the conversation. Drawing from in-depth interviews and national surveys, she unpacks how eco-anxiety, climate guilt, and solastalgia shape decisions about having children. Sasser argues that while we should continue building the families we want, true reproductive freedom requires commitments to climate and social justice, along with better mental health support for those grappling with an uncertain future.
✍️ A new study by Niklas Stolz and Benedict Probst – The Negligible Role of Carbon Offsetting in Corporate Climate Strategies – challenges the idea that carbon credits drive faster corporate decarbonization. Analyzing 89 multinational companies and over 400 sustainability reports, the authors found no significant difference in emissions reductions between firms that purchase credits and those that don’t. While some industry leaders claim offsets accelerate action, the research suggests most companies treat them as a minor expense, with top offsetters like Delta Air Lines and easyJet even prioritizing credit purchases over internal decarbonization efforts.
✍️ A new report by Carbon Market Watch and WWF – A Clean Industrial Revolution in Europe: How the EU carbon market can accelerate decarbonisation by making polluters pay – reveals that the EU Emissions Trading System (ETS) continues to reward heavy polluters, with €40 billion lost to free allowances in 2023 instead of funding industrial decarbonization. Major polluters like ArcelorMittal (€3.8B) and Heidelberg (€2B) benefited, while oil refining received €6 billion in allowances, enabling unchecked emissions. The report calls for urgent ETS reform, a strong carbon price, and swift implementation of the Carbon Border Adjustment Mechanism (CBAM) to shift from subsidies to real climate action.
Money moves in climate finance every week — but is it enough (no)? Below are some of the most interesting deals working to make an impact. Click the titles for the full article.
MIGA Fuels Clean Cooking Innovation in Kenya with $179.6 million Guarantee
MIGA, part of the World Bank Group, issued a $179.6 million guarantee to protect KOKO Networks’ investment in Kenya, securing it against risks like expropriation and contract breaches for up to 15 years. KOKO supplies bioethanol cooking fuel to low-income households, generating carbon credits that fund subsidies and drive the transition from deforestation-based fuels. This guarantee ensures financial stability for KOKO’s expansion while protecting its carbon credit revenue streams, which are crucial for compliance markets under the Paris Agreement’s Article 6.
Ireland Donates $16 Million to Brazil’s Amazon Fund
Ireland pledged 15 million euros to Brazil’s Amazon Fund, marking its first contribution and bringing the total number of donor countries to eight. Managed by Brazil’s development bank, the fund has invested $534.6 million across 123 projects aimed at preventing deforestation and promoting sustainable development in the Amazon. This commitment strengthens international efforts to protect the world’s largest rainforest, joining contributions from Norway, Germany, the U.S., the U.K., Denmark, Switzerland, and Japan.
Germany Approves Huge Investments with €100 Million to Climate Transformation Fund
Germany’s incoming coalition government, led by Friedrich Merz, has secured €500 billion in new debt-financed investments, with €100 billion allocated to the Climate Transformation Fund after negotiations with the Greens. This funding aims to accelerate climate action and infrastructure development but required a constitutional amendment, needing a two-thirds parliamentary majority. By securing Green Party support, the coalition ensured a major financial commitment to Germany’s energy transition and climate resilience.
Norway Commits $7 Million to Support Indigenous Governments in the Colombian Amazon
Norway is investing $7 million to support indigenous governance in the Colombian Amazon, enabling 10 indigenous territories to formalize control over 8.3 million hectares of conserved rainforest. Over half of the funds will be administered directly by indigenous governments, strengthening their political and financial systems in line with ancestral knowledge. This initiative, part of Norway’s larger $20 million pledge to Colombia, aims to promote sustainable land management while empowering indigenous communities—especially women—as key stewards of climate and biodiversity solutions.
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