Corresponding adjustments to prevent double counting
At the end of the year, myclimate became the first organisation to launch a label that reflects the altered framework conditions of the Paris Agreement. With the new “Engaged for Impact” label, businesses can credibly communicate about their commitment to climate protection and be recognised for it. The label, which was developed in accordance with the recent WWF study and Gold Standard guidelines, is therefore the successor to the climate-neutral label.
Right at the start of the webinar, the Managing Director of myclimate Switzerland Kathrin Dellantonio emphasised that “the commitment of the private sector to achieving global climate targets is more important than ever”, as are “the high standards of myclimate in supporting clients and partners in their efforts”. Over the past year, myclimate has worked hard on the issue of how supporting climate-protection projects in the global south can continue to be attractive to businesses in the future.
Director of the Carbon Markets Division Florian Goppel, in his subsequent contribution, clarified the benefits of the new label to businesses. Reputational risk due to a process called “double claiming” wasn’t the only focus of the discussion. The newly created “Impact” set of rules recognises businesses that fund climate protection projects based on CO₂ emissions calculated by myclimate. The emissions reductions achieved as a result, instead of going towards the businesses’ own climate targets, are “donated” to the country hosting the climate protection project. This, together with their efforts to prevent and reduce their own emissions, is a significant contribution towards a net-zero climate strategy.
Tracking number offers transparency and credibility
According to Nicole Kolb, Team Leader of the Corporate Partnerships Switzerland department, the Impact label means myclimate clients and partners can, despite the modified framework conditions, commit to effective climate protection and publicise their efforts in this regard.
Furthermore, the “Engaged for Impact” label offers maximum transparency to climate protection investors: thanks to the tracking number incorporated into the myclimate Impact label, they can now view, online and at any time, CO₂ emissions levels and which myclimate projects their funds are supporting. The label therefore highlights companies that voluntarily promote climate protection – and are therefore actively committed to working towards a net-zero climate strategy.
