CARE’s Capacity Statement on Carbon Finance
The urgency to combat climate change is undeniable. While ambitious net-zero pledges offer hope, the reliance on carbon credits alone can mask a crucial issue – the need for genuine emission reductions.
Furthermore, the ever-changing carbon market, with rising credit prices but declining project volume due to concerns about quality and impact, demands a new approach.
CARE International, a 75-year-old global confederation working to fight poverty and social injustice in more than 100 countries in the world, with a specific focus on the empowerment of women and girls, is uniquely positioned to address this challenge. By 2030, CARE commits to work with partners around the world to ensure that 25 million poor and marginalized people, particularly women and girls, have strengthened their resilience and adaptive capacities to the effects of climate change.
We have a proven track record of implementing high-quality, accredited carbon projects that deliver tangible benefits to communities. Building on this extensive experience, we have developed a set of principles and commitments regarding carbon finance that elevate the standard for quality in carbon projects. This expertise positions CARE as a value-added partner for project developers and corporate collaborators.
CARE’s new Climate and Environment Policy addresses Scope 1 and 2 emissions1, demonstrating our commitment to reducing our carbon footprint. However, we believe that tackling Scope 32 emissions is crucial to address for true sustainability. Our high-quality carbon projects lower Scope 3 emissions while providing tangible benefits to communities, especially women and girls.
CARE’s approach goes beyond generating carbon credits. We prioritize empowering communities, driving gender-equitable participation, and ensuring fair benefit-sharing. We use evidence-based learning and rigorous monitoring and evaluation to ensure our projects deliver lasting impact, contribute to climate resilience, and advance sustainable development goals. By adhering to the highest standards and advocating for systemic change in the carbon market, CARE works to ensure the integrity and effectiveness of carbon projects, aligning with our Vision 2030 goals.