CSX is a cutting-edge team of experts in biodiversity net gain (GNG), carbon and natural capital management.
Its purpose is to develop a trusted GNH and carbon market that provides land managers with a fair return on environmental management and enables companies to achieve transparent, verified carbon and biodiversity offsets.
CSX was founded in January 2020 by Andy Howard and Edward Milbank, entrepreneurial land managers and forest creators who were frustrated with existing voluntary carbon market mechanisms. They recognized how the use of new technologies could improve the expansion 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 came from my and my business partner Edward Milbank’s experiences selling carbon in the carbon markets about six to seven years ago. I had created the largest new private woodland in England for 30 years and wanted to sell the carbon from this project. However, I quickly realized that the carbon markets were heavily biased against the producers — those who planted and cared for the trees. Producers received only a tiny portion of the profits.
A key moment was a conversation with the chairman and CEO of a major car manufacturer that needed to offset some of its residual carbon through tree planting projects in the UK. The existing mechanisms could not efficiently provide the required carbon credits. This highlighted the need to democratize carbon markets for suppliers, reduce barriers to entry for landowners and ensure they receive a fair share of the value. CSX was created to achieve these goals and promote sustainable land management practices.
One of the key factors that has distinguished CSX from the start has been 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 various companies about the issues they were facing in the carbon market. The recurring feedback was that the city’s best minds were looking at the problems from the demand side while ignoring the essential supply need. However, we know that for a market to function effectively, there must be a balance between demand and supply.
We concluded that while there was a huge need for carbon monitoring and assessment, the supply aspect was not adequately addressed. By focusing on unlocking the market and incentivizing landowners to bring their carbon products – and now biodiversity products – to market, we have been able to create a fair and functioning marketplace. 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 contribute significantly to their team’s success without seeking the center of the spotlight. In the world of sport, figures like Lawrence Dallaglio and Geraint Thomas come to mind. They embody the spirit of teamwork and commitment. This principle of prioritizing collective effort over individual glory is something I want to introduce within CSX, fostering a collaborative and supportive environment as a key pillar in building a team that can successfully achieve our goals.
Looking back, is there anything you would have done differently?
Andy Howard
: There are certainly things I would have approached differently. A key lesson was that we relied too heavily on external consultants early on rather than investing in our internal team from the start. While external consultants brought valuable expertise, building internal capabilities proved more beneficial in the long run. By upskilling our team and completing tasks in-house whenever possible, we were able to gain deeper insight, learn faster, and thus be better able to develop and implement change plans, maintain continuity, and have a greater sense of ownership and commitment to to further our mission. This approach has proven more effective for us over time, allowing us to become agile and drive CSX’s sustained success.
What defines your way of doing business?
Andy Howard
: For me, business is fundamentally about building strong, long-term relationships with our team and our customers. CSX’s success relies on trusted and sustainable commitments that create value for everyone involved. This relationship-based approach is crucial, particularly in the emerging area of biodiversity and carbon markets, where trust and confidence have been severely tested by existing legacy systems. We strive to build long-term partnerships that benefit our company, nature and our customers alike.
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, I’m not there yet, stories like this are rare exceptions. Be prepared for many ups and downs and focus on agility and flexibility with every step. It is important that you adapt to your surroundings, be willing to change and respond accordingly. Success often comes from the ability to overcome challenges and change course when necessary.
