New report shows how organisations can take responsibility for ongoing emissions and help raise billions for climate action   

Report by Gold Standard, Pinwheel, and ClimatePartner sets out how organisations can take responsibility for the emissions they continue to produce while transitioning to net zero. 

As organisations with net-zero targets continue to generate emissions for years to come, many have the capacity to link those emissions to meaningful financial commitments that accelerate climate action beyond their value chains. A new report from Gold Standard, Pinwheel, and ClimatePartner sets out how organisations can begin doing exactly that, unpacking critical ideas on linking ongoing emissions to transparent financial commitments and high-impact climate action.  

Leading climate standards such as the Science Based Targets initiative (SBTi) are beginning to incorporate Ongoing Emissions Responsibility (OER), and organisations increasingly need credible ways to address ongoing emissions while continuing to decarbonise. Building on Gold Standard’s previous Beyond Value Chain Mitigation (BVCM) guidance, and launched during London Climate Action Week 2026, the new report, Ongoing Emissions – Taking Responsibility, brings together best practices for organisations implementing an OER strategy as part of their credible climate action plans. It outlines how to establish financial commitments, build OER activity portfolios, and be recognised for climate leadership.  

Separate indicative analysis by Gold Standard suggests that, if companies across the EU and US adopted the SBTi’s Advanced level of Ongoing Emissions Responsibility (applying a US$20 per tonne contribution budget to 10% of their emissions) this could mobilise around US$17 billion annually for climate action.

“Reaching net-zero will take time, but companies do not need to wait to make a meaningful contribution to climate action. Ongoing Emissions Responsibility gives organisations an opportunity to link the emissions they continue to produce as they decarbonise with finance that can accelerate progress now. It provides a practical framework for connecting ongoing climate impact to meaningful finance, delivered through a mix of mechanisms including direct funding, climate funds, innovation, advocacy, adaptation and high-integrity carbon credits.” 

Margaret Kim, Chief Executive Officer, Gold Standard

In SBTi’s Corporate Net-Zero Standard 2.0, launched on 11 June 2026, organisations will be recognised through a tiered system, from initial recognition for organisations beginning to apply OER, to advanced and leader levels for those taking responsibility for a greater share of their ongoing emissions. This reflects a broader shift in corporate climate practice, where responsibility for ongoing emissions is becoming a core component of credible transition strategies. 

The report sets out the core elements of an OER approach, including: 

• Setting an OER budget: It outlines three approaches to establishing a financial commitment linked to ongoing emissions and provides guidance on setting a credible carbon price.   
• Building a high-quality OER Activity Portfolio: How organisations can build a portfolio of OER activities tailored to their objectives. 
• Necessary conditions for carbon credit usage: How carbon credits can be used credibly within an OER framework, as contributions to global mitigation rather than compensation for a company's own emissions.  
• Credible climate claims: How organisations can communicate their OER activities with integrity.  

“We need more speed in climate action. Reducing emissions remains the foundation, but OER bridges the gap between where companies are today and where they need to be. Carbon credits – used as a contribution to global mitigation, not as compensation – are one important tool in a well-designed OER portfolio. The key is transparency: being honest about what you emit, what you fund, and why. Helping companies get there is what ClimatePartner does every day.”  

Moritz Lehmkuhl, Founder and Chief Executive Officer, ClimatePartner

"Corporate climate action continues to gather momentum. As businesses look for new sustainability models to surpass the old offsetting/compensation approach, they need to engage with a system that is highly credible but one that provides flexibility and reputational returns on investment. The OER framework does just that, and we are proud to accelerate its adoption in partnership with Gold Standard." 

Gavin Sheppard, Chief Executive Officer, Pinwheel

Ongoing Emissions: Taking Responsibility builds on Gold Standard’s previous guidance on Funding Beyond Value Chain Mitigation (BVCM), which provides a model for organisations seeking to stay ahead of emerging expectations for credible climate action.  

Notes to editors – Calculation behind the US$64 billion estimate 

 
The US$17 billion figure is an indicative Gold Standard analysis based on official EU and US emissions data. It estimates the potential annual finance associated with applying the SBTi’s Advanced Ongoing Emissions Responsibility contribution-budget benchmark to 10% of an economy-wide emissions base associated with economic activity.

European Union

• Eurostat estimates that economic activities and households in the EU generated 3.3 billion tonnes of CO₂e in 2025 (https://ec.europa.eu/eurostat/statistics-explained/index.php?title=Greenhouse_gas_emission_accounts).
• Households accounted for 690 million tonnes CO₂e, leaving approximately 2.6 billion tonnes CO₂e associated with economic production activities.
• Applying a 10% coverage level gives approximately 261 million tonnes CO₂e.
• At US$20 per tonne CO₂e, this equates to approximately US$5.2 billion annually.

United States

• The US Environmental Protection Agency allocates 2023 gross greenhouse-gas emissions across economic sectors. (https://library.edf.org/AssetLink/670sd82p0ok42r7e5ei5ler727crxv32.pdf).
• Gold Standard uses emissions allocated to transportation, electric power, industry, agriculture and commercial activities as a broad proxy for emissions associated with economic activity outside the residential sector. Together, these sectors accounted for approximately 5.8 billion tonnes CO₂e in 2023.
• This total comprises 1.8 billion tonnes CO₂e from transportation, 1.5 billion tonnes from electric power, 1.4 billion tonnes from industry, 650 million tonnes from agriculture and 455 million tonnes from commercial activities.
• Applying a 10% coverage level gives approximately 580 million tonnes CO₂e.
• At US$20 per tonne CO₂e, this equates to approximately US$11.6 billion annually.

Combined illustrative potential: approximately US$16.8 billion annually, rounded to US$17 billion.

This analysis is intended to illustrate the scale of finance that could be mobilised through climate contributions linked to ongoing emissions. The EU and US source datasets allocate emissions by economic activity rather than company ownership, so they are not strict estimates of private-sector emissions or companies’ consolidated Scope 1, 2 and 3 inventories.