Help Determine What’s Fair in the Carbon Market
Fairtrade work on Fairtrade Carbon Credits opens up for public consultation.
Fairtrade International has opened a public consultation period to gather input on the Fairtrade Carbon Credit Standard. This new standard is being developed to ensure that the producers most affected by climate change benefit fairly from the international carbon market. The consultation period runs until 15 July.
The carbon market, also known as emissions trading, is a key mechanism adopted in the Kyoto Protocol to reduce worldwide carbon emissions, one of the leading causes of climate change. Producers and communities around the world are facing heavy impacts due to climate change, including unpredictable weather patterns, the spread of pests and fungi, higher than average temperatures, floods and droughts.
The new standard will enable producers to receive a fair price for carbon credits generated by their mitigation projects, while also helping them combat the impacts of climate change in their communities and offset global emissions. Over 100 producers and carbon experts helped shape the initial draft of the Fairtrade Carbon Credit Standard through regional workshops in Latin America, Africa, Asia, and Europe. Fairtrade International is collaborating with The Gold Standard Foundation as a technical partner on the project (Read about our partnership with the Gold Standard here).
Fairtrade Carbon Credits will be an add-on module to the Gold Standard’s current energy and forestry standards, as well as for their upcoming Climate Smart Agriculture standard (generating carbon credits through improved agricultural practices to protect natural resources, and enhance food security).
In addition, research is ongoing to define a Minimum Price and to create a methodology for establishing carbon projects.
The first consultation round on the FCC Standard runs until July 15 with a second consultation later this year. For more information on how to participate, click here. Initial piloting of the Fairtrade Carbon Credit Standard will begin in September.