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Milkywire & Gold Standard Unveils Comprehensive Guide for Effective Beyond Value Chain Mitigation

Milkywire, alongside Gold Standard and Murmur, released a guide for Beyond Value Chain Mitigation

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IMAGE: GOLD STANDARD

Milkywire

Mar 18, 2024

3 min read

Updated 2 months ago

Milkwire in participation with Gold Standard and Murmur, has released a step-by-step guide to implementing Beyond Value Chain Mitigation. This initiative aligns with the recent insights shared by the Science Based Target’s Initiative (SBTi) in their reports released on 28 February, aimed at accelerating the adoption of the approach. 

Beyond Value Chain Mitigation is a way for companies to take responsibility for their unabated greenhouse gas emissions while reducing their climate impact in line with science. By taking this approach companies can stay ahead of regulation such as the EU’s proposed law on green claims, get the credit they deserve for their actions, and ensure their climate related claims can withstand scrutiny. 

The new guidance builds on SBTI’s recent reports supporting the adoption of Beyond Value Chain Mitigation to detail a clear, step-by-step approach, supplemented by summaries of to-do lists, key choices and expected outputs at each stage.

Find the guidance here.

Gold Standard and Milkywire will be holding a webinar to launch this guidance at 14:00 GMT/15:00 CET on 27 March 2024. If you would like to attend this event, please sign up here. 

Commenting on the publication Nina Siemiatkowski, founder and CEO Milkywire said:

"We created the Climate Transformation Fund to be a leading option for companies wanting to focus on global net zero rather than on short-term claims, supporting projects with the largest needs, and the highest impact. This guide helps scale the idea, it creates a framework for third-party validation for funds like ours and enables others to follow the approach."

Margaret Kim, Gold Standard CEO, said:

“This step-by-step guide demystifies the process for businesses striving to develop a Beyond Value Chain Mitigation Strategy. It provides clear instructions for each of the four steps required: emissions accounting; setting an internal carbon fee; investing in impactful initiatives; and making credible claims about your actions.”

Lene Petersen, Senior Manager Climate and Business at WWF Switzerland, said:

“WWF welcomes emerging guidance on BVCM. Seeing Gold Standard and partners promoting the introduction of carbon fees for climate action beyond value chain is a much-needed signal for companies wanting to develop good BVCM practices. We hope to see ambitious carbon fees and much of the funds going to holistic and durable interventions with positive benefits for people, nature and climate.”

Will Hutton, Trustee, Murmur said:

“Through Murmur's touchpoints in the music and visual arts industries, we hope to demonstrate that companies of all sizes can achieve holistic approaches to mitigating the climate crisis and inspire more widespread adoption of Beyond Value Chain Mitigation thinking.”

Ian Stanton, Head of Sustainability at Beggars Group said:

“Beggars Group is committed to transitioning to a low carbon way of working as part of the UN Race to Zero Initiative, and crucial to this is investing in transformative action within our shared supply chains and beyond, funded by our internal carbon price. This guidance will be invaluable in enabling us to do just this, providing an impactful framework to navigate projects beyond our value chain that don’t simply rely on purchasing carbon credits.”

Alexander Farsan, Head of Climate and Environment at Klarna said:

"It's great to see Milkywire and Gold Standard's new guidance build on the SBTi Beyond Value Chain Mitigation guidance by tackling the critical next step for corporate decision makers: what climate action should you be funding?"

About Milkywire

Milkywire is a leading impact platform dedicated to growing financing for high-quality environmental projects while enhancing efficiency and transparency. Milkywire has created the charitable Climate Transformation Fund that supports projects within carbon removal, emission reductions, and nature restoration & protection to help reach global net zero, providing an alternative to offsetting. Launched as a BVCM initiative in 2021, the fund—backed by companies like Spotify, Klarna, and ING Bank—has so far selected 30 projects across the world.

About Gold Standard Gold standard was established in 2003 by WWF and other international NGOs as a best practice standard to help the world #GrowToZero. All Gold Standard-certified projects and programmes accelerate progress toward the Net-Zero ambition of the Paris Climate Agreement while catalyzing impact toward the broader Sustainable Development Goals. Its standard, Gold Standard for the Global Goals, allows climate and development initiatives to quantify, certify, and maximise their impacts toward climate security and sustainable development. Certification against the standard provides the confidence that these results are measured and verified, enabling credible impact reporting. ISEAL Code Compliant and backed by a broad NGO Supporter Network, Gold Standard has 1900+ projects underway in over 90 countries, creating billions of dollars of shared value from climate and development action worldwide.

About Murmur Murmur, a strategic climate fund founded by leaders in climate strategy and the creative industries, enabling the worlds of visual art and music to play their part in combating the climate crisis by encouraging Beyond Value Chain Mitigation thinking. Money is raised by applying an agreed carbon price to residual carbon emissions with funds going towards transformative climate projects within the sector's value chains and beyond.

Related Funds
Climate Transformation Fund

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