Markets working to support sustainable development

Information

(certification and PVS, sustainability metrics, sustainability reporting, sustainability disclosure regulation)

Business and Biodiversity Offsets Program (BBOP)

The Business and Biodiversity Offsets Program (BBOP) is an international collaboration between over 70 companies, financial institutions, government agencies and civil society organisations. It aims to help companies to conserve biodiversity in an ecologically effective and economically efficient manner as they pursue their business goals.

Gold Standard

The Gold Standard is a set of criteria for certifying carbon offset projects and the carbon credits that they produce, focusing on energy efficiency, renewable energy, waste management and land use/forest projects. In addition, the Gold Standard Foundation are developing methodologies for water certification.

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Climate Action Reserve Protocols

The Climate Action Reserve is a programme that seeks to ensure the environmental integrity of GHG emissions reduction projects as well as create and support financial and environmental value in the U.S. carbon market. It does this by establishing standards for quantifying and verifying GHG emissions reduction projects, overseeing independent third party verification bodies, issuing carbon credits generated from such projects and tracking the credits over time on a transparent, publicly-accessible system. 

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Climate, Community & Biodiversity Standards

The Climate, Community & Biodiversity (CCB) Standards are designed as an evaluation tool for any land management projects, including those that reduce greenhouse gas emissions from deforestation and avoid the degradation of forests (and other ecosystems), as well as projects that remove carbon dioxide by sequestering carbon (e.g. reforestation and sustainable agriculture). 

IFC Performance Standards on Social and Environmental Sustainability

The International Finance Corporation (the private sector investment body of the World Bank) has developed a set of Performance Standards to review the suitability of projects for direct financing. If a project is not expected to meet the standards over a ‘reasonable period of time’ then the IFC will not provide finance.

There are also several types of activity that the IFC does not finance e.g. production/trade of weapons, alcohol, tobacco, illegal products or activities.The Performance Standards are based on 8 areas:

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Extractive Industries Transparency Initiative (EITI)

The EITI seeks to set a global standard for transparency in oil, gas and mining and is applicable to national governments. The EITI has a number of principles and indicators that are predominantly centred on improving transparency and accountability in the extractive industries.

The EITI maintains the EITI standard, which was updated in May 2013. Countries implement the EITI Standard to ensure full disclosure of taxes and other payments made by producing oil, gas and mining companies. These payments are disclosed in an annual EITI Report. 

The Kimberley Process

The Kimberley Process Certification Scheme (KPCS) aims to certify that rough diamonds have not been sold to fund conflicts, i.e. that they are not ‘conflict’ or ‘blood’ diamonds. The KPCS entered into force in 2003.

The process brings together diamond exporting and importing states along with industry organisations and civil society groups.

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