Paul Crump: Why did you decide to be part of the goodcarbon group?
Tosson El Noshokaty: There wasn’t a singular factor, but instead many things that came together. I’ve had a lot of experience working with asset managers and financial institutes and found myself questioning why more money wasn’t being invested in environmental impact. goodcarbon had exactly what I wanted to do, it’s a unique intersection of sustainability, asset management, and investment–creating a lucrative and compelling business case for big money to get involved.
The digital aspect of innovations like tokenization and crypto is also a big drawcard for me. These systems are breaking silos in the industry and taking a far more modern approach than anything I’d seen in the past.
On a personal level, I knew David and Jerome and they were pushing me to do something in the impact space. The initial kick-off team is made up of great human beings, and it was inspiring to see people come together with an aligned vision and motivation for truly driving impact. It was compelling for me to be part of a team whose strengths work so well together and are complementary.
“It’s now more lucrative to invest in nature than it is to destroy it.”
PC: Why should investors be looking at sustainability and NCS?
TEN: At the goodcarbon group, we want to create something that makes investing in Nature-Based Solutions comparable to any other investment, in any other asset class. We know that nature is a risky asset class, but it’s more important than anything else out there.
We’re empowering the planet to fight back, defend itself, and regain what we’ve taken from it for thousands of years. It’s now more lucrative to invest in nature than it is to destroy it. Further to that, it’s important to do good, protect the planet, and build a legacy for future generations.
“We know that companies have done harm, think of the oil and gas industry, but we need to be fair to everyone and allow firms to rethink their status quo.”
PC: You must see a lot of brands jumping on the bandwagon and ‘greenwashing’, what does genuine sustainability mean to you?
TEN: I think we have to be fair to big corporations and brands. Over the years everyone has been figuring out how best to act. What has accelerated change hasn’t been corporations or governments–but the accountability of every single human being to play a part. There is increasing pressure on financial markets from an ESG perspective–and it’s the customers who are being more vocal and selective on where they put their money.
For businesses, it means gauging how willing they are to take actions that may hurt them.
I look to see if they have a strategy in place to reduce CO2 if their strategy is transparent, and can I track the steps they are taking. In their sustainability approach, it’s important to see if they are being aggressive and ambitious or if they’re integrating buffers–and to see if they are willing to take painful steps that may hurt the bottom line, instead of passing these costs on as premiums to their customers.
One thing I am least mindful of is a company’s past. We know that companies have done harm, think of the oil and gas industry, but we need to be fair to everyone and allow firms to rethink their status quo. We have to give them the chance to take lessons from the past and integrate those learnings into an ambitious future strategy.
We hope that goodcarbon isn’t needed as an initiator in 20 years, but only as an accelerator–being seen as a vehicle to invest in amazing projects and people across the globe.
PC: Where do you see your industry going in the next 5-10 years?
TEN: Right now, the industry is still in a pilot phase. There’s a need to combine offsetting with a clear reduction strategy, and in the next 2-5 years we’ll see companies find out what works for them. For goodcarbon this may mean investing in more diverse NCS or maybe something else–marketplaces are popping up everywhere.
The coming years will be a trial and error period where everyone needs to think about the right portfolio to fulfil their NetZero strategy. That could mean investing in new tools, services, materials, and supply chain–or looking into voluntary carbon markets with asset managers or their own marketplace.
There will also be an increase in impact expertise. We’ll understand what this space means to our organisations, our structures, and how to live up to our purpose. In the next five years, this legwork will need to be done by governments, corporates, and the private sector–as we see a tremendous increase in participation from the public.
Unfortunately, we’ll continue to get more alarming news on The Paris Agreement as we miss climate targets–and the priority and urgency of change will only increase. Thankfully, the public has been incredibly vocal and is willing to pay premiums for the sake of our planet. These premiums will go down as we see sustainable technology move into mass markets and become more affordable.
We hope that goodcarbon isn’t needed as an initiator in 20 years, but only as an accelerator–being seen as a vehicle to invest in amazing projects and people across the globe. By 2040 we hope to have shifted our value proposition from something corporates and investors must do, to something they would like to do for a positive impact on our planet.
Items like the website and collateral that we have developed together [with Fellow] are like our shop window, and thanks to you, our shop window is highly professional and is setting new standards.
PC: How do you feel the new identity has helped in communicating sustainability for GCC?
TEN: Although our founding team has decades years of experience, we are a startup. It’s incredibly important for us to have a professional and understandable brand, and be able to clearly communicate our value. Having a premium brand elevates us to confidently engage with the top class of asset managers, investors, and banks.
Items like the website and collateral that we have developed together [with Fellow] are like our shop window, and thanks to you, our shop window is highly professional and is setting new standards. The impression we make through our brand gains a level of trust, and also allows us to be personal and memorable. We’re not a foundation and we’re not a big bank–we’re combining both in a professional and premium way that lets us open a lot of exciting new doors.
View the goodcarbon Capital case study here.
