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To achieve the Paris climate targets, the private sector is more important than ever. The myclimate label "CO₂ calculated – Carbon projects funded" recognises companies that proactively and voluntarily address their carbon footprint and take direct responsibility by providing financing for specific climate protection projects. Alongside the essential reduction of a company’s own emissions, this is a key component of a climate strategy aimed at achieving net-zero. In this way, a company gains experience in factoring the costs of any remaining CO₂ emissions into its pricing.
To help companies communicate their significant financial commitment to climate protection transparently, with integrity and in line with current European case law, myclimate has revised the content and redesigned the myclimate Impact Label "Engaged for Impact". With the new label, companies continue to receive a market-oriented incentive to commit to climate protection and to highlight their products and activities accordingly. Private individuals, in turn, are supported in making climate-conscious purchasing decisions through independent, transparent information backed by verified and independently audited claims. In this way, myclimate helps to ensure that there continues to be an incentive for the private sector to engage in climate protection.
The myclimate label "CO₂ calculated – Carbon projects funded" was developed through a comprehensive process, including documented stakeholder consultation, to ensure its validity under the EU Directive "Empowering Consumers for the Green Transition" (EmpCo). The new myclimate label, as well as other tools we have developed, offer you this opportunity. Please get in touch so that we can explain the various options and the processes behind them.
The label continues to be awarded to companies and organisations that provide financial support for climate protection projects, based on their carbon footprint, which has been validated by myclimate and verified by an independent certification body. These climate protection projects save or remove and store at least as many emissions from the atmosphere as are caused by the company, event or product in question. The label therefore recognises that the greenhouse gas emissions from an activity have been accounted for and that the company is taking responsibility for these emissions by making a financial contribution to climate protection. Companies are actively addressing their greenhouse gas footprint and are thus making a direct contribution to climate protection. In addition to avoiding and reducing the company’s own emissions, this voluntary financing for climate protection is a key component of a net-zero climate strategy.
These are high-quality projects, based on clearly defined processes and independently verified, which contribute to the global 1.5-degree target. They reduce or absorb CO₂ emissions and have been proven to make a positive contribution to sustainability at local and regional level (see also the United Nations’ SDGs). With the new myclimate label "CO₂ calculated – Carbon projects funded", companies can make a high-profile contribution towards achieving the global climate target. Furthermore, in line with current consumer law, they can use it to communicate that they are providing a portion of the urgently needed financial contributions – a portion corresponding to their own emissions.
For the “CO₂ calculated – Carbon projects funded” label, myclimate experts and an independent certified body draw up a validated carbon footprinting report that determines the extent of the CO2 emissions generated. The calculation methods and system boundaries are set out in the label guidelines.
If a company carries the myclimate label, this means that it provides financing for emissions reductions through external climate protection projects to offset the extent of its own emissions. Unlike earlier climate neutrality labels, this clearly communicates the process involved and does not give the false impression that the product in question or the company itself has a comparatively positive or neutral carbon footprint. Customers are provided with transparent and clearly worded information stating that the company does not offset emissions, but instead addresses its impact on the climate, provides financing for climate protection in the host country and thus takes responsibility for its own emissions. It cannot describe itself as "climate neutral", but it can communicate the contribution it is making towards achieving global climate targets and the impact this has on the projects – in other words: the financial commitment it is making to tackle the climate crisis and what concrete results this commitment is delivering.
The CO₂ certificates retired through the label are credited towards the climate targets of the host country of the climate protection project. Through the myclimate label "CO₂ calculated – Carbon projects funded", myclimate customers thus support the host country in achieving its climate targets, or “donate” the emissions reductions to it. This makes an important (financial) contribution to global climate protection, as many countries do not have sufficient financial resources to achieve their climate targets on their own.
In the era of the Paris Agreement, the climate-neutral label can now only be awarded with Corresponding Adjustments (CAs). However, as there are currently very few CAs and it is unclear when sufficient CAs will be issued, and whether these will help the respective countries to raise their level of ambition and provide financing for challenging transformation processes, myclimate does not offer the climate-neutral label for new partnerships.
