Stockton Bush Property Services, a property management company, had specific sustainability goals they aimed to meet and a desire to align their strategy with their business operations.
To achieve their goals, they partnered with WattCarbon, a new climate action market that’s accelerating building decarbonization at scale. WattCarbon’s market directs corporate climate funding to clean energy suppliers nationwide, enabling them to cut costs, sell more projects, and scale their impact.
Stockton Bush purchased $20,000 in WattCarbon’s electrification portfolio. This funding will be deployed to electrification suppliers like Elephant Energy in Boulder, CO, to help them sell and install more heat pumps. In return, Stockton Bush will receive Energy Attribute Certificates. EACs provide a detailed report of each project’s carbon reductions, measured to the gram, and can be used to verify impact in reporting against their sustainability targets.
Sustainability is a common goal for companies within the built environment sector. However, aligning business operations with these objectives can be challenging due to various factors, such as the uncontrollable carbon intensity of your grid, the credibility issues surrounding the purchase of Renewable Energy Credits (RECs), and the costly and time-consuming process of electrifying and connecting buildings.
Stockton Bush's partnership with WattCarbon is innovative because it allows the company to make a direct impact on climate change which aligns with their business operations while also aiding the growth of the clean energy sector. The crux of decarbonization is the speed at which it can be done - the quicker we can decarbonize, the less damage the emissions will cause.
Stockton Bush's funding for electrification suppliers accelerates decarbonization by enabling these suppliers to quickly implement new projects. In turn, WattCarbon's unique model is designed to transform the clean energy market by putting a price per ton on carbon reductions. This will incentivize more suppliers to sell clean energy technology, unlock lower costs for consumers, and enable clean energy technology to compete with fossil fuel alternatives. The model presents the most efficient and effective way to grow the industry and expedite the shift to 100% clean buildings.
The current phase of portfolios will close by the end of September. Following this, WattCarbon's electrification suppliers will actively sell and enroll their new projects for funding. Upon completion of these projects, WattCarbon will remunerate suppliers, based on the projected carbon reduction value of each respective project. Finally, once carbon reductions have been accurately measured and confirmed, Energy Attribute Certificates (EACs) will be issued to Stockton Bush, verifying the impact resulting from their $20,000 investment.