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What are Co-Benefits?
Co-benefits refer to any positive outcomes that a carbon credit project generates in addition to the primary goal of emission reductions or removals. These benefits support broader sustainability objectives, which align with social, environmental, and economic development goals.
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.