A new policy paper jointly authored by the Climate Markets and Investment Association (CMIA), Whave Solutions, and Gold Standard, argues that Water Benefits Certificates can play a vital role in climate mitigation and adaptation while meeting broader sustainability targets.

The inextricable link between water security and climate change were acknowledged in the COP 21 agreement. To meet the sustainable development goals, instruments of finance are needed to harness the private sector in financing projects. The report focuses on how WBCs can be implemented as an innovative solution to mobilising finance.

"Catalysing private sector investment on climate mitigation and adaptation will be essential if the Paris Agreement and accompanying NDCs are to turn rhetoric into reality. We think that Water Benefits Certificates, drawing on Whave's model to address the global waterand sanitation challenge, is precisely the sort of innovative thinking needed to herald a step change in climate financing post-Paris."

Richard Folland, CMIA Executive Director

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