As part of its ongoing effort to maintain a flagship portfolio of premium carbon credits for the compliance as well as for the voluntary market, 3C’s engagement with the Gold Standard highlights the utmost importance of standardization and transparency in order to achieve credibility in the carbon market. 3C’s sponsorship will further strengthen its own quality assurance efforts and shall send a clear signal to the market. “For me, the Gold Standard marks a unique combination of sustainability and environmental integrity”, explains Dr. Sascha Lafeld, Managing Director of 3C Consulting GmbH. “Our sponsorship is a signal to our clients, especially in the voluntary market, where comprehensive information on the specific carbon offset projects is key.”
According to 3C Group, it is indispensable to allow offset clients to retrace the climate protection projects that have been chosen to compensate their emissions and to prove that those projects have undergone a thorough quality assessment by independent and UN-accredited verifiers. In this regard, quality norms such as the Gold Standard play an important role in consolidating the market on a sophisticated level and offer users a widely visible and reliable tool to stand out against other market participants.
For the same reasons, global financial player and insurance company Allianz has decided to comprise their carbon credit portfolio for their car insurance product ECOmotion of credits certified with the Gold Standard. As a partner of ECOmotion, 3C identifies suitable climate change projects and provides Gold Standard Certified Emission Reductions (CERs) and Verified Emission Reductions (VERs) for offsetting emissions from cars insured by Allianz. In co-operation with WWF, Allianz and 3C have issued a certificate guaranteeing climate neutrality for a one year period. Cars emitting less than 140 g/km will be awarded an additional label issued by Allianz and WWF.
Michael Schlup, Director of the Gold Standard Foundation welcomes 3C ‘s sponsorship and declares: “The fact that major players in the voluntary carbon market rely on Gold Standard carbon credits sends strong impulses for the further development of the voluntary market and the sustainable development of local economies in Asia, Latin
America and Africa.”
The Gold Standard Foundation offers a quality label for CDM/JI and voluntary offset projects that enjoy a high reputation in the carbon market. The standard not only considers the climate protection value, but also takes other social and environmental benefits of projects into account. Eligible projects must pass an additionality screening, an independent verification and find the local stakeholder acceptance to receive Gold Standard certification.