Gold Standard and Swedish Energy Agency partner to ensure integrity in international cooperation under Paris Agreement
For the first time, a national government partners with an international climate standard to procure high-integrity emission reductions to meet their national target through Article 6 of the Paris Agreement.
GENEVA, SWITZERLAND; STOCKHOLM, SWEDEN – 25 August 2021
Gold Standard and the Swedish Energy Agency announce a partnership to facilitate the Swedish Government’s acquisition of quality Internationally Transferred Mitigation Outcomes (ITMOs) under Article 6 of the Paris Agreement, aiming to serve as a model for broader international cooperation in mitigating climate change.
Article 6 of the Paris Agreement enables governments to voluntarily cooperate in the achievement of their Nationally Determined Contributions (NDCs), using market and non-market-based approaches to transfer mitigation outcomes.
Rather than initiating new processes, Gold Standard rules, framework, and infrastructure will be adapted for use by the Swedish Energy Agency to facilitate their Article 6 activities. This is expected to reduce transaction costs, increase certainty over supply for the government, reduce risk for project developers, and give independent assurance to all stakeholders that rigorous requirements are in place to ensure integrity and quality.
Beyond the climate impact, making use of Gold Standard principles will allow for the delivery of quantified, verified contributions to the Sustainable Development Goals that tangibly benefit the constituents where projects take place.
The partners expect this collaboration to mark a significant step forward for Article 6.2 cooperation, pioneering new approaches to address market barriers while setting the bar high in terms of quality of units and promotion of sustainable development.
Gold Standard Chief Executive Officer Margaret Kim says, “We’ve built a track record over nearly two decades of maximising the impact of carbon finance in both compliance and voluntary markets. It’s only logical to extend this to international agreements, positioning buyer and host countries and the climate to mutually benefit.”
Sandra Lindström, Head of International Climate Cooperation, from the Swedish Energy Agency says, “We expect this collaboration to provide valuable insight and the tools necessary to facilitate international cooperation on climate change and increased ambitions, in line with the Paris Agreement.”