The Best Way To Do Proper Carbon Footprint Accounting?

“A lot of this stuff that we have now is obvious, when you’ve got it in your hands. But the point of going from zero to one, on that point, can be very challenging.”

— Alex Stuart

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Entrepreneur Alex Stuart's interest in renewable energy likely flows from the same personality trait that's enticed him to start multiple businesses, sometimes consecutively.

"It all starts from innate curiosity. I'm a very curious person by nature, and so I'm constantly exploring ideas and opportunities," he explained.

Alex is the president of Carbon Block, which he co-founded in 2018, and Standard Carbon, which he launched three years later.

An expert in greenhouse gas assurance, small-scale renewable energy and the carbon markets, his companies synergistically support his beliefs in transparent, accurate climate data.

They're the latest projects for the busy Canadian, who founded two renewable energy companies and installed wind turbines for the U.S. government earlier in his career.

Carbon Block and Standard Carbon are both based in Winnipeg, Manitoba.

Carbon Block is an environmental technology firm aiming to tackle climate change through carbon offsets. It uses proprietary hardware backed by blockchain to verify greenhouse gas (GHG) emission reductions and convert them into carbon offsets.

Standard Carbon offers GHG-related consulting services to clients in renewable energy, agriculture, manufacturing, and transportation sectors.

Alex launched Standard Carbon because he views carbon accounting as an exciting opportunity.

Alex thinks climate data directly affects a company's financial position — and not managing your risk exposure to rising carbon prices will cost it. As he explains, understanding your carbon debt from all operations and your supply chain is imperative for clients, shareholders, and investors and enables companies to avoid greenwashing and misspending.

Standard Carbon is the first GHG verifier in Canada accredited by the Standards Council of Canada (SCC) to ISO 14065:2020 and ISO 17029: 2019 and is the sixth in Canada accredited to ISO 14065:2013. This accreditation enables Standard Carbon to issue GHG validation and verification statements, a crucial part of creating carbon offsets. The accreditation is recognized internationally and allows the company to participate in the carbon markets.

In today's podcast, Alex discusses his companies, career and the latest offering from Standard Carbon, SCOP3 software. Alex says it's "the one climate tool for every financial need" because it helps companies of all sizes manage every part of their environmental data.

Alex said SCOP3 addresses the needs of accountants, who have struggled to evaluate environmental information and translate it into financial details. During a meeting with representatives of a leading US-based accounting organization, Alex floated the idea of specialized software.

"I casually asked, 'If we build software that translates environmental science information into financial language, would that be helpful for members of your profession?' And they responded, 'Absolutely.'

"That was the aha moment, where we pivoted to building what we're now calling climate accounting software. It's an evolution beyond carbon accounting because it is a much more holistic approach to the problem," he explained.

Alex said he often imagines himself in the future, where he can "see things and know, 'clearly, this is the way it should be' and then come back and go, 'Why isn't it that way?'

"That's been my approach to entrepreneurialism and how my career has taken me to where I am today."

It's a fascinating conversation. Join us.

RESOURCES:

Connect with Alex Stuart on LinkedIn

Follow Carbon Block on LinkedIn, Twitter, YouTube, TikTok and check out its website.

Follow Standard Carbon on LinkedIn and Twitter and check out its website.

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