Advancing Global Net Zero: Gold Standard Releases Second Iteration of Climate Framework

Gold Standard has released the second iteration of its pioneering climate framework designed to guide organisations in making substantial contributions to global climate efforts. The updated version addresses new challenges and incorporates feedback to support businesses in navigating the complexities of climate strategy.

To achieve global climate mitigation and adaptation goals we need a transformation in business practices, ensuring companies make fair contributions to net zero efforts. The updated framework, released by Gold Standard today, aims to eliminate ambiguity and provide clarity amidst the plethora of initiatives that often lead to confusion and contradictory information.

Gold Standard has released two enhanced documents under the theme "Fairly Contributing to Global Net Zero":

• Organisational Climate Strategies: This comprehensive guide consolidates principles and criteria, offering a credible framework for organisations. It outlines areas needing further development and provides actionable steps that can be immediately implemented.
• Guidelines for Credible Claims: This supplementary document offers detailed discussions, innovative ideas, and practical 'how-to' considerations for organisations applying the framework.

Margaret Kim, CEO of Gold Standard, remarked:

"Whether driven by the urgency of the climate crisis or by business imperatives such as brand equity, risk mitigation, or regulatory readiness, our updated framework aims to provide a clear and comprehensive guide for becoming a positive and fair contributor on our journey to global net zero."

The updated framework and supporting documents are the second iteration, following an annual update schedule to keep pace with evolving trends and the latest science.

Key developments included in the latest iteration include:

• A new focus on adaptation considerations when developing climate strategies.
• Further guidance on how companies should take responsibility for unabated emissions, and their scope 3 emissions, in line with our Beyond Value Chain Mitigation guidance.
• Gold Standard remains committed to continually evolving this framework, providing organisations with the tools needed to navigate the path to global net zero in a way that stands up to scrutiny and avoids greenwashing. Feedback and discussions from this release will inform future updates, ensuring the framework remains relevant and impactful.

Gold Standard will be holding a webinar to discuss these documents on 25 July.