position paper

Building on the UNFCCC Race to Zero campaign, FairClimateFund wants to advocate a ‘Fair Race to Net-Zero’. Making sure that transition to a net zero carbon economy does not overlook the people that are most vulnerable to the impacts of climate change. To learn more, please download our position paper: A Fair Race To Net-Zero.

POSITION PAPER

FairClimateFund supports the corporate climate action framework laid out by WWF in the document ‘A blueprint for corporate climate action on climate and nature’. However, we do want to stress that climate finance should support climate, nature ánd people. The best practice for companies is to:

 

  1. Calculate scope 1, 2, and 3 emissions according to the GHG protocol and transparently disclose conform CDP standards;
  2. Set ambitious targets for both near- and long-term actual emission reductions and for reaching net zero emissions in line with science (1.5 degrees);
  3. Put an ambitious internal price on the remaining greenhouse gas emissions, which then defines the company’s climate finance budget and;
  4. Use this budget to further reduce emissions and invest in high quality (fair, inclusive and rights-based) offset projects and/or initiatives that support mitigation, biodiversity, conservation and adaptation in developing countries that are most vulnerable to climate change.