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Types of Co-Benefits
Co-benefits manifest in various forms:
- Environmental Co-Benefits: These include improved air and water quality, biodiversity conservation, and enhanced ecosystem services.
- Social Co-Benefits: Benefits such as improved public health, job creation, poverty alleviation, and education advancements fall under this category.
- Economic Co-Benefits: They involve stimulating local economies, creating sustainable business practices, and elevating income levels.
Measuring Co-Benefits and Alignment with SDGs
Co-benefits are often aligned with the United Nations' Sustainable Development Goals (SDGs), providing a framework to assess the wider impact of carbon projects.
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Utilising Co-Benefits in Carbon Credit Portfolios
Incorporating co-benefits into a portfolio of carbon credits provides companies with a way to optimise their sustainability impact and potentially address other ESG goals in the process. A balanced portfolio with a mix of technological and non-technological credits can achieve comprehensive climate action while addressing a range of environmental and social issues.