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CSX is an advanced team of experts in biodiversity net gain (BNG), carbon and natural capital management.
The aim is to develop a trusted GHG and carbon market, providing land managers with a fair return for environmental management and providing companies with transparent, verified carbon and biodiversity offsets.
CSX was founded in January 2020 by Andy Howard and Edward Milbank, enterprising land managers and foresters who were frustrated with existing voluntary carbon market mechanisms. They saw how the use of new technologies could provide integrity in scaling private sector investments in nature-based solutions.
What was the inspiration behind CSX and its success?
Andy Howard
: The inspiration for CSX started about six to seven years ago with my and my business partner, Edward Milbank’s, experiences selling carbon on the carbon markets. I had created the largest new private woodland in England in thirty years and was trying to sell the carbon from that project. However, I soon realized that the carbon markets were heavily biased against the producers – those who planted and maintained the trees. Producers received only a small share of the proceeds.
A defining moment was a conversation with the chairman and CEO of a major car manufacturer, which needed to offset some of the remaining carbon by planting trees in Britain. Existing mechanisms have failed to deliver the necessary carbon credits efficiently. This highlighted the need to democratize carbon markets for suppliers, reduce barriers to entry for landowners and ensure they receive their fair share of value. CSX was born to facilitate these goals and promote sustainable land management practices.
One of the key factors that set CSX apart from the start was our approach to understanding and addressing the real issues in the carbon market. At the start of our trip, we traveled to London and spoke to several companies about the issues they were facing in the carbon market. The recurring feedback was that the best minds in town were looking at the problems from the demand side, but not taking into account the essential need for supply. However, as we know, for any market to function effectively, there must be a balance between supply and demand.
We concluded that while there was a huge demand for carbon monitoring and assessment, the supply aspect was not adequately addressed. By focusing on unlocking the market and encouraging landowners to bring their carbon products – and now biodiversity products – to market, we have been able to create a fair and functional market. This unique perspective and our commitment to supporting stakeholders have been critical to our early and ongoing success.
Who do you admire most and why?
Andy Howard
: I have great admiration for people who work tirelessly behind the scenes and make significant contributions to the success of their team without seeking the focus of the spotlight. In the world of sports, I think of individuals like Lawrence Dallaglio and Geraint Thomas. They embody the spirit of teamwork and dedication. This principle of valuing the collective effort over individual glory is something I try to instill within CSX, fostering a collaborative and supportive environment as a key pillar to building a team that can successfully achieve our goals.
Looking back, is there anything you would have done differently?
Andy Howard
: There are definitely things I would have handled differently. A key lesson was that we were over-reliant on external consultants early on, instead of investing in our internal team from the start. While external consultants brought valuable expertise, building internal capabilities proved more beneficial in the long term. By upskilling our team and handling tasks internally where possible, we have been able to gain deeper insights, learn faster and therefore be better able to develop and implement change plans, maintain continuity and gain a greater sense of ownership and to promote commitment to our mission. . This approach has been more effective for us over time and has allowed us to become agile and drive sustainable success for CSX.
What defines your way of doing business?
Andy Howard
: For me, entrepreneurship is fundamentally about building strong, long-term relationships, with our team and our customers. CSX’s success comes from trusted and sustainable commitments that add value for all parties involved. This relationship-oriented approach is critical, especially in the emerging field of biodiversity and carbon markets, where trust is being severely tested by existing systems in place. We strive to create long-term partnerships that benefit our company, nature and our customers.
What advice would you give to someone starting out?
Andy Howard
: My advice is based on realism and resilience. Don’t expect an easy path to the successes of people like Jeff Bezos or Elon Musk, not that I’m there yet, such stories are rare exceptions. Be prepared for many ups and downs and focus on agility and flexibility every step of the way. It is essential to stay attuned to your environment, be ready to change and respond accordingly. Success often comes from the ability to deal with challenges and change course when necessary.