ClimateCare and Gold Standard have formed a strategic partnership based around a new global standard aimed at ensuring project investment directly delivers against the Global Goals.
In September 2015, the UN announced a new set of Global Goals for Sustainable Development, which include ending poverty, improving global health, ensuring gender equality and mitigating climate change by 2030.
It has been widely acknowledged that the private sector will be integral to the provision of the finance required to meet the public sector funding gap to meet these ambitious targets.
The climate finance and development sectors already play a vital role in cutting global emissions and impacting positively on climate change. However, if we are to meet the ambition of the historic 2015 Paris Agreement as well as the Sustainable Development Goals, climate action projects must demonstrably target and deliver a broader set of environmental and social impacts.
As the leading global standard and certification body for climate and development projects, Gold Standard has long ensured that projects deliver genuine emission reductions and effect long-term sustainable development.
ClimateCare is the leading provider of high quality charismatic development projects that protect the environment and improve people’s lives. It brings expertise and innovation to structuring project financing, based around a broader set of development outcomes than carbon emission reductions alone.
“ClimateCare is uniquely placed to help bring Gold Standard for the Global Goals to market, as they have already undertaken a number of projects on behalf of corporate clients with funding structured around beyond-carbon development outcomes” comments Marion Verles, CEO of Gold Standard.
“ClimateCare will play a vital role as we look to partner with leaders in sustainable development and corporate social responsibility to deliver the new standard,” she continues.
“We have been enthusiastic supporters of the Gold Standard and its pioneering work in standards innovation for many years. So we are delighted to be extending that relationship from climate finance instruments to broader development outcomes that deliver against the Global Goals” said Edward Hanrahan, CEO of ClimateCare.
“ClimateCare’s pioneering work developing a world-first framework with Aviva and the London Benchmarking Group in providing robust social impact demonstrates strong alignment with the Gold Standard’s focus on the Global Goals, and we look forward to evolving this type of work in collaboration with them.”
ClimateCare will supportGold Standard in promoting the new standard, and will form part of a coalition of corporate partners enhancing Gold Standard’s thought leadership position in this area.
Gold Standard is re-engineering its best practice standard into an approach that integrates all types of climate and development projects into a unified, holistic standard to maximise impacts.
With a single, streamlined certification process that reduces costs and complexity, Gold Standard for the Global Goals will assess the impact of project activities toward the Sustainable Development Goals’ targets and indicators, allowing demonstration of real progress toward meeting the ambition of the 2030 global development agenda.
Sale of proceeds portfolio
As part of the partnership, ClimateCare will also be taking on exclusive management and sale of Gold Standard’s own portfolio of carbon credits from Gold Standard projects. Corporates wishing to support Gold Standard projects from its own portfolio, or develop new projects to support the Global Goals using Gold Standard verification should contact ClimateCare.
Notes to editors
A certified B Corporation, we believe that to tackle climate change, poverty and create sustainable development, we need interventions that deliver on a holistic basisWe help the public and private sector work together to create award-winning Climate+Care programmes designed to tackle poverty, improve health and protect the environment, whilst delivering value for the organisations involved.
We unlock new sources of finance by helping corporates take full responsibility for their social and environmental impacts and helping the public sector deliver more efficiency for its spend.Leveraging mainstream funding, we profitably deliver some of the largest, most successful sustainability initiatives in the world. To date we have worked with hundreds of partners to cut over 20.6 million tonnes of CO2 and at the same time, improved the lives of 16.5 million people.
About Gold Standard
Gold Standard is a standard and certification body that works to catalyse more ambitious action for climate security and sustainable development. Its holistic standard, Gold Standard for the Global Goals, enables activities that protect the climate and empower local communities to maximise, quantify, and verify their impacts.
Gold Standard was established in 2003 by WWF and other international NGOs as a best practice standard to ensure projects that reduced carbon emissions under the UN’s Clean Development Mechanism (CDM) also delivered on the dual mandate to foster sustainable development. Now with more than 80 NGO supporters and 1400+ projects in over 80 countries, Gold Standard projects have created billions of dollars of shared value from climate and development action worldwide.
Find out more at www.climatecare.org Or follow us at @ClimateCare on Twitter
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Please contact: Sophie Brooks, ClimateCare
Tel: +44 (0)1865 591015