COP26 Side Event: A Fair Race to Net-Zero– Scaling fair, inclusive and gender-focused voluntary carbon markets

Building on the UNFCCC Race to Zero campaign, we want to advocate a ‘Fair Race to Net-Zero’. We aim to ensure that a transition to a net zero carbon economy is fair, inclusive and gender-focused and doesn’t overlook people living in the most vulnerable regions.

Carbon markets are instrumental in getting the necessary carbon finance from the private sector to support the transition to a zero-carbon economy in developing countries. However, carbon finance often does not reach small-scale farmers and low-income households. The pressure of large corporates to supply low-priced carbon credits results in a limited share of carbon income for the ones with the least bargaining power. In the international carbon credit value chain, we see the same unfair principles as we see in the coffee or cacao sectors. Fairtrade International’s Fairtrade Climate Standard ensures a fair price is paid for carbon credits and simultaneously requires buyers to have ambitious emissions reduction targets.

How the scaling of voluntary carbon markets could  amplify gender equality impacts

Efforts are underway to dramatically increase the size and impact of the voluntary carbon market. The Taskforce on Scaling Voluntary Carbon Markets (TSVCM), TVMI and others are  exploring how the quality of carbon credits can be assured in a scaled market. However, thus far, these initiatives miss out on opportunities to leverage the impact potential of a key transformational target:  gender equality and women’s empowerment or SDG 5. The scaling of carbon markets has the potential to support financial flows to fairly reward and scale-up female leadership and impact.

The intent of this session seeks to highlight and advance the issues on additionality of carbon projects, carbon finance for adaptation in developing countries, carbon markets as a mechanism to reduce emissions (mitigation of global emissions) and the alignment of the SDGs with the voluntary carbon market

Moderator: Linda Lap, Manager Marketing & Communications, FairClimateFund

Speakers:

Gert Crielaard, Fund Manager, FairClimateFund

Juan Pablo Solis, Senior Advisor Climate and Environment, Fairtrade International

Jeannette Gurung, Executive Director, WOCAN and W+ Standard

Member of Dutch Government (tbd)

 

More information here