ALLCOT Group presented “SDG Co-Benefits in Voluntary Carbon Offsetting” as part of CPLC Technical Workshop in Washington D.C
The workshop “SDG Co-Benefits in Voluntary Carbon Offsetting” was presented by Sergi Cuadrat, Chief Technical Officer of ALLCOT Group as part of the Carbon Pricing Leadership (CPLC) Technical Workshop for the 4th Annual CPLC High-Level Assembly (HLA) organized by Gold Standard, WWF and WRI at Embassy of Canada on April 12th 2019 in Washington, D.C.
In 2015, leaders from the member states of the United Nations agreed on objectives to shift all economies and societies toward sustainable and decarbonised development through the adoption of the Agenda 2030 on the Sustainable Development Goals (New York, September 2015) and the Paris Agreement on limiting climate warming to well below 2ᵒC (Paris, December 2015). Both frameworks, although negotiated under different multilateral processes, promote the participation of all countries and are highly interlinked: the Paris Agreement emphasizes the need for sustainable development considerations in low-carbon transitions; at the same time avoiding dangerous climate change is one of the 17 Sustainable Development Goals (SDGs) defined in the 2030 Agenda on Sustainable Development. Thus, failure in one process could undermine the success of the other. The implementation of Nationally Determined Contributions (NDCs) –countries’ emissions reduction commitments– requires huge investments, which are more likely to be financed if embedded in and benefiting national development plans. While, vice versa, prospects for sustainable development depend on a limitation of global warming.
Sergi Cuadrat emphasized that such interdependency can be seen as an opportunity to move away from the discourse of two different agendas that are often perceived to be in competition; and instead pursue their implementation in a way to maximise mutual benefits. The 2030 Agenda for Sustainable Development will not be achieved without the commitment of the private sector and at the same time, companies are demonstrating their willingness to ramp up sustainability action by aligning not only their corporate social responsibility policies, but also their core business strategies, with the targets defined in the SDGs. To achieve these, clarity is required to give business the confidence to embrace the SDGs, as it can be difficult to understand how investments in development activities can have greater impact and help achieve the necessary transformation towards alignment with the SDGs.
ALLCOT is seeing an evolution in the way its clients think about carbon finance and the additional impacts their carbon investments can have so businesses are able to articulate the benefits of their carbon project investments beyond the verified emission reduction. Sergi Cuadrat stated that “businesses can use carbon finance to deliver additional value through alignment with the SDGs, enabling the voluntary carbon market to extend beyond emission reductions, and play a vital role in driving low carbon sustainable development throughout the world”.
In order to assist business in measuring their SDG baselines and to measure future progress, Sergi Cuadrat unveiled that ALLCOT is developing an open-source SDG Quantification Methodology which aims to establish the measurable co-benefits of the SDGs as an operational tool in development activities to ensure a fair carbon price. The tool will include recommended approaches for the formulation of targets and decision-making pathways based on the individual needs of an organization to measure and report on the impacts of sustainable development actions, including its use in the carbon markets, business supply chain, city-scale interventions or NDC assessments. Although still under development, the design of the tool will consider how to reduce the barriers to measure, quantify and certify SDG impacts, including IT based platforms and blockchain-based solutions.
Pricing carbon, through a carbon tax or cap-and-trade system, has proven to be effective in addressing climate change and can be an essential tool for meeting the SDGs. Therefore, ALLCOT firmly believes that carbon pricing policies should be designed to help achieve the global sustainable development agenda to benefit the fight against climate.
Carbon Pricing Leadership Report
On the other hand, the Carbon Pricing Leadership Coalition (CPLC) has published Carbon Pricing Leadership Report, where ALLCOT Group has participated. This report acts as CPLC’s 2018/19 annual report, providing an update on CPLC’s activities over the last year. It also showcases articles from thought leaders to inspire and guide government and business leaders to increase their carbon pricing ambition.
You can read the full report here and ALLCOT Group contribution in page 56.