COMPANY NEWS, PRODUCT

Helping companies protect people and the planet

Tuesday, 17 Dec 2024

Calyx Global now provides project-level safeguard insights on its rating platform, giving carbon credit buyers unprecedented and comprehensive visibility into the environmental and social risks of carbon projects.

Our risk assessment framework was developed in concert with foremost safeguard experts. It assesses risks to people and the environment involved in carbon projects and the effectiveness of the safeguards in place. One year ago, Calyx Global was the first carbon credit ratings agency to provide subscribers access to project-type risks and offer project-level assessments outside of our platform. Today, we provide environmental and social project-level assessments on a platform experience.

How enhanced access to safeguards information helps:

  • Buyers: Mitigate risk, make informed decisions
  • Communities: Protection rights, promote fair benefit sharing and more
  • The environment: Protect ecosystems, preserve wildlife habitat

Importance of safeguards in carbon credit quality

In recent years, multiple media reports have highlighted the critical need for stronger safeguards in carbon projects, underscoring the importance of protecting local communities and ecosystems. Our move to bring our environmental and social risk analysis on-platform aims to help more carbon credit buyers navigate these issues with the industry’s most in-depth assessment of such risks. This advancement enables companies to support the safeguarding of rights and well-being of stakeholders, from indigenous communities to local wildlife habitats, reinforcing Calyx Global’s commitment to providing a complete picture of carbon credit quality.

“Giving subscribers access to the same rich, project-level assessments of environmental and social risk as we do for greenhouse gas risk and Sustainable Development Goal contributions has always been our goal, and I’m excited we have achieved it,” says Linda Rivera Macedo, Head of Safeguards and Sustainable Development at Calyx Global.

Supporting informed investments

The integration of safeguards as part of the Calyx Global Platform aims to make it easier for buyers to consider crucial risk factors beyond greenhouse gas emissions. Companies now also have a purview into risks related to labor and land rights, health and safety, and other important impacts. When coupled with beyond carbon benefits, carbon credit buyers can get a more complete picture of quality. “Risks like fair benefit sharing, effective stakeholder engagement and women’s rights are just as significant as those concerning greenhouse gas integrity,” added Rivera Macedo. “We hope this new offering helps buyers incorporate these considerations when selecting carbon credits.”



Trusted by leading companies

Major organizations, including Volkswagen ClimatePartner, Meta and others are already using this enhanced assessment as a vital part of their decision-making process in evaluating carbon credit investments. By providing clear insights into the environmental and social risks in carbon projects, Calyx Global helps protect companies from potential reputational damage while supporting their commitment to the climate and sustainable development.

"At Meta, we recognize that climate leadership goes beyond climate impact. Our commitment to responsible carbon credit procurement means deeply understanding the environmental and social impacts of every project we support,” said Tracy Johns, Carbon Removal Program Lead at Meta. “Calyx Global has been an invaluable partner in helping us understand the risks and protections to communities embedded in carbon credits. Their rigorous assessments enable us to ensure that our carbon credit investments not only remove carbon but actively support and protect the local communities and ecosystems where these projects are implemented," Johns added.

To learn more about environmental and social risks and safeguards, register for the upcoming webinar “5 ways to minimize environmental and social risks in carbon projects.”

Environmental and social risk screenings were previously available on the Calyx Global Platform for project types, with project-level analysis available upon request. If you’re ready to explore the in-platform experience, reach out to our team here.



About the author

Calyx Global

This article includes insights and input from multiple experts in Calyx Global.