A new framework for furthering emission reductions whilst adapting to a warming world
Gold Standard has partnered with Resilient Cities Catalyst’s (RCC) to develop a new framework to help design and develop adaptation projects, introducing the Adaptation Requirements.
Despite continued efforts to meet mitigation goals of less than 2 degrees celcius above pre-industrial levels, the world is experiencing significant societal and infrastructure losses and will continue to do so for decades to come. Unless countries and communities start adapting to the effects of global warming – alongside continuing mitigation efforts - the damage caused by climate-related disasters may reach trillions of dollars. In response to this, Gold Standard, along with Resilient Cities Catalyst’s (RCC), have produced a roadmap to help design and implement adaptation projects, that reduce the risks and losses associated with climate-related events through the application of Adaptation Requirements.
The Adaptation Requirements focus on designing quality adaptation projects through hazard analysis and risk assessment, that also consider the adaptive capacity and engagement of local stakeholders, climate change education and the resilience of technologies or materials utilised. Designed to carefully dovetail adaptation planning within a project design standard (Gold Standard for the Global Goals), facilitating the preparedness of projects to recruit finance and generate adaptive outcomes ready for investment. Overall, the requirements aim to incentivise, identify and value projects or portfolios which support communities to adapt for future climate risks and mobilise investments for such projects.
Gold Standard CEO, Margaret Kim said:
“With more than 15 years of experience in carbon reduction and removals, Gold Standard has channeled billions of dollars towards carbon mitigation globally. However, as the impacts of climate change are already being felt, it is clear that mitigation alone is not enough. Adaptation is becoming imperative for a sustainable future. With the Adaptation Requirements we intend to build on our overarching standard, Gold Standard for Global Goals, and continue towards our vision of climate security and sustainable development for all”.
How to get involved
Gold Standard Adaptation Requirements are now available for public comment and will be open through to 25/11/2022. We invite any feedback on the draft requirements via the link below. Gold Standard are also pleased to announce that we have already begun the piloting process on projects using the Adaptation Requirements and are currently welcoming more pilot projects.
Outcomes from the public consultation along with learnings from the piloting process will be considered and reviewed to finalise the Requirements. If you have a project that would benefit from the Adaptation Requirements and are interested in putting it forward for piloting, please email Felicity Spors.
Join the webinar
Felicity Spors, Head of Sustainable Finance, will host a webinar giving an introduction to the Adaptation Framework and insights into the pilot projects to date, followed by a Q and A with the audience.
03 November 2022 at 10:00 - 11:00AM CEST