What is additionality?

Gold Standard

The non-profit foundation Gold Standard Foundation, whose projects we support at GoClimate, was established in 2003 by about 80 environmental organizations, including WWF, to raise the bar for climate projects. The analysis showed that there was a huge need for climate financing globally, but that the projects available at the time - certified according to the UN's CDM requirements - did not measure up. How is Gold Standard better than CDM in terms of additionality? Gold Standard uses the same approach to additionality as CDM, but with additional requirements for the projects to ensure that the money maximizes climate benefits:

• Gold Standard ställer krav på att projekten ska visa “Ongoing Financial Need” varje gång projektet förnyas
• Gold Standard exkluderar projekttyper som inte är kompatibla med 1,5-gradersmålet (“Gold Standard does not support Project types associated with geo-engineering or energy generated from fossil fuel or nuclear, fossil fuel switch, or any project that supports, enhances or prolongs such energy generation”)
• Gold Standard ställer krav på att projekten ska visa “Ongoing Financial Need” varje gång projektet förnyas

Huge Need for Climate Projects

There is a tremendous need for financing to transition to a fossil-free and less energy-dependent world. Unfortunately, the development of, for example, renewable energy is currently not progressing to the extent required. Fossil fuels continue to grow, and globally, 82% of the world's energy still comes from fossil fuels. As long as we continue to burn fossil fuels and increase our energy usage, there is a need for immediate actions. Here, climate financing of climate projects is a powerful tool.

The Need for High Demand

The more people that demand climate-beneficial projects and actions, and are willing to pay for them, the more climate projects will come to fruition. For instance, if just 10% of Sweden's population supported climate projects through GoClimate’s climate tool for individuals, roughly 60 million Swedish kronor (well over 5 million euro or 5.5 million USD) each month would go towards climate projects. The result would boost the market significantly, and many new climate projects would be created. It’s not unreasonable to think that with only 10% of Sweden's population engaged, we could systematically shut down smaller coal plants, thereby contributing significantly to reducing climate change. Make a difference with us today! Start your journey towards a more climate-friendly business with us.