Gold Standard, a standard and certification body for climate and development projects today launches Gold Standard for the Global Goals, a new standard to quantify, certify and maximise the contributions of climate and development interventions toward the Paris Climate Agreement and the United Nation’s Sustainable Development Goals (SDGs).
The standard is set for the benefit of stakeholders who fund life-changing climate and development projects around the world – including businesses, governments and investors – to measure, report and track the full range of investments in climate and development initiatives they have contributed to.
Supported by WWF and other international NGOs, it is also anticipated that for the first time, gender equality will be at the heart of every project. Strict criteria, rigorous safeguards and independent third-party verification offer assurance that projects deliver real emission reductions and contribute to at least three SDGs, while ongoing engagement with local stakeholders ensures projects benefit local nature and communities as much as possible.
Marion Verles, chief executive officer of Gold Standard, said: “If we are to keep global warming well below 2C and meet the Sustainable Development Goals, climate action must be holistic and high-impact, helping the world develop on a sustainable pathway.”
Besides encouraging more ambitious climate action from public and private sector bodies, the new standard is expected to unlock billions of funds needed to scale-up clean technology and sustainable development in cities around the globe.
Furthermore, the Standard’s Urban Development module will help developers design and implement best practice projects, and quantify and communicate climate and development impacts such as cleaner air and improved health, to attract investment and gain public support.
To accelerate progress toward the Paris Agreement and the Sustainable Development Goals, Gold Standard will now certify a range of independently-verified SDG Impacts in addition to its flagship carbon credits.
Gold Standard is partnering with the UNFCCC Secretariat – the body responsible for delivering the Paris Agreement – to develop a range of methodologies, tools and guidance to assist companies and sub-national governments in setting voluntary sustainability targets and assessing the SDG impacts of their initiatives.