The Annual Investment Meeting (AIM), one of the world’s largest investment platforms, and Gold Standard, a climate and development organization, have signed a Memorandum of Understanding to promote dialogue for sustainable development at the 12th edition of the conference, which ends its three-day run today, May 10, in Abu Dhabi.
The partnership with Gold Standard will further AIM’s commitment to sustainable development by having Gold Standard retire carbon credits to offset the emissions generated by the event’s venue, with a maximum limit of $30,000.
“At Gold Standard we are proud to help this year’s Annual Investment Meeting and to take responsibility for the unavoidable emissions associated with the event by retiring carbon credits on its behalf. At Gold Standard we are taking the lessons we’ve learned from our 20 years in the carbon market, and building financial tools to accelerate investment in sustainable development and carbon emission reduction projects. Events like the AIM Congress are important moments for investors from around the world to get together and look for new opportunities to make an impact,“ said Margaret Kim, Chief Executive Officer of Gold Standard.
“We are pleased to announce this partnership with Gold Standard, as we believe that closer cooperation and collaboration will further the achievement of our mutual interests and objectives. This MoU will facilitate the promotion of sustainable development and help us create innovative new programs and tools that can be integrated to deliver impacts at a greater scale,” said Walid A. Farghal, Director General of Annual Investment Meeting.
Gold Standard was established in 2003 by WWF and other international NGOs to ensure projects that reduced carbon emissions featured the highest levels of environmental integrity and also contributed to sustainable development.
With the adoption of the Paris Climate Agreement and the Sustainable Development Goals, the NGO has launched a best practice standard for climate and sustainable development interventions, Gold Standard for the Global Goals, to maximise impact, creating value for people around the world and the planet we share.
As part of the agreement, Gold Standard will retire credits froma project that supports the provision of safe water to hundreds of households within the Central Province of Zambia. By providing safe water, the project will ensure that households consume less firewood during the process of water purification and as a result there shall be a reduction of carbon dioxide emissions from the combustion process.