Alliance Teams with Gold Standard to Maximize Impact of Climate and Development Finance
Zurich, 14 April 2016: The Alliance is teaming with the Gold Standard to help climate finance deliver a greater impact, as well as to unlock new channels of finance for climate and development activities.
The Alliance, which previously collaborated with Gold Standard (GS) to develop the first methodology for quantifying black carbon, is now supporting GS’s health methodology by providing access to key research and experts, helping to develop the clean cookstove impact indicators, and supporting various results-based financing initiatives such as the Clean Cooking Loan Fund managed by Nexus Carbon for Development.
The partnership also aims to mobilize new channels of public and private finance by developing a “Gold Standard 3.0” — a framework to quantify and verify the multiple sustainable development outcomes of climate and development projects. This holistic standard sets the foundation for results-based finance for a broad set of outcomes that contribute to both climate and development post-2015 agendas.
“Gold Standard 3.0 is an innovative next step towards unlocking results-based financing for the multitude of development outcomes that clean cookstoves deliver. We are happy to be working with Gold Standard to launch this framework and encourage its use in the market,” comments Peter George, Director, Enterprise Development and Investment at the Global Alliance for Clean Cookstoves.
“Both the public and private sector need to increase their levels of ambition if we have any hope in meeting the goals set by the Climate Agreement and the SDGs,” said Marion Verles, CEO of Gold Standard. “By partnering with organizations like the Global Alliance for Clean Cookstoves, we are able to develop a unique platform that will drive finance towards a more equitable and sustainable future.”