CSX is a cutting-edge biodiversity net gain (BNG), carbon and natural capital management team of experts.
Its purpose is to develop a trusted BNG and carbon market, offering land managers a fair return for environmental management, and give businesses a transparent, verified carbon and biodiversity offsets.
CSX was established in January 2020 by Andy Howard and Edward Milbank, entrepreneurial land managers and woodland creators frustrated by the existing voluntary carbon market mechanisms. They saw how the use of new technologies could deliver integrity to the scaling of private sector investment in nature-based solutions.
What was the inspiration behind CSX and its rise to success?
Andy Howard: The inspiration for CSX began with me and my business partner, Edward Milbank’s, experiences in selling carbon in the carbon markets about six to seven years ago. I had created the largest new private sector woodland in England in 30 years and sought to sell the carbon from that project. However, I quickly realised that the carbon markets were heavily biased against the producers – those who planted and maintained the trees. Producers were only receiving a tiny fraction of the returns.
One defining moment was a conversation with the chairman and CEO of a major car manufacturer, who needed to offset some residual carbon through tree planting projects in the UK. The existing mechanisms failed to deliver the necessary carbon credits efficiently. This highlighted the need to democratise the carbon markets for suppliers, reducing entry barriers for landowners and ensuring they received a fair share of the 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 problems in the carbon market. Early in our journey, we travelled to London and spoke to various businesses about the issues they had faced in the carbon market. The recurring feedback was that the best minds in the city were looking at the problems from the demand side, while failing to consider the essential need for supply. However, as we know for any market to function effectively, there needs to be a balance between demand and supply.
We concluded that while there was enormous demand for carbon monitoring and evaluation, the supply aspect was not being adequately addressed. By focusing on unlocking the market and incentivising landowners to bring their carbon – and now biodiversity products – into the market, we were able to create a fair and functional marketplace. This unique perspective and our commitment to supporting stakeholders has been crucial to our early and continuing success.
Who do you admire the most and why?
Andy Howard: I have a great admiration for people who work tirelessly behind the scenes, contributing significantly to their team’s success without seeking the focus of the limelight. In the sports world, individuals such as Lawrence Dallaglio and Geraint Thomas come to mind. They embody the spirit of teamwork and dedication. This principle of valuing the collective effort over individual glory is something I strive to instil within CSX, fostering a collaborative and supportive environment as a key pillar of building a team that can deliver successfully on our goals.
Looking back, is there anything you would have done differently?
Andy Howard: There are certainly things I would have approached differently. One major lesson was the over-reliance on external consultants early on, instead of investing in our in-house team from the start. While external consultants brought valuable expertise, building internal capabilities proved to be more beneficial in the long run. By upskilling our team and handling tasks in-house whenever possible, we were able to gain deeper insights, learn faster and therefore be better placed to develop and implement change plans, maintain continuity, and foster a greater sense of ownership and commitment to our mission. This approach has been more effective for us over time and has enabled us to become agile and drive sustained success for CSX.
What defines your way of doing business?
Andy Howard: For me, business is fundamentally about building strong, long-term relationships, with our team and clients. The success of CSX comes from trusted and sustainable engagements that add value for all parties involved. This relationship-centric approach is crucial, especially in the emerging field of biodiversity and carbon markets, where trust and confidence has been sorely tested by the legacy systems in place. We are committed to creating long-lasting partnerships that benefit our company, nature and our clients alike.
What advice would you give to someone starting out?
Andy Howard: My advice is grounded in realism and resilience. Don’t expect an easy path to the successes of the likes Jeff Bezos or Elon Musk, not that I’m there yet, such stories are rare exceptions. Be prepared for many ups and downsand focus on agility and flexibility every step of the way. It is vital to stay attuned to your environment, be ready to pivot, and react accordingly. Success often comes from the ability to navigate challenges and change course when necessary.
Read more:
Getting To Know You: Andy Howard, CEO of CSX Carbon
