Climate Change News
5 climate change priorities for 2023
As our window to act becomes ever smaller, what should be the top climate change priorities in 2023?
January 11, 2023
As our window to act becomes ever smaller, what should be the top climate change priorities in 2023?
Between technical wording and vague commitments, it can be challenging to analyze and understand the decisions that emerged from COP27. In this article, ClimateTrade explains the most relevant carbon market developments from this year’s Conference of the Parties. Two intense weeks of negotiations came to an end on Sunday, and a record 35,000 COP27 delegates have now left Sharm el-Sheikh. It’s time to digest all the information that came out of the summit, and for us at ClimateTrade, that means analyzing the most relevant carbon market announcements and developments. More on this topic: Top 5 expectations from COP27 COP27 carbon market development 1: Article 6 advances While COP26 was seen as a cornerstone moment for Article 6, COP27 was an opportunity to iron out some of the more technical details of the functioning of international carbon markets under the Paris Agreement. For Article 6.2, governing the use of Internationally Transferred Mitigation Outcomes (ITMOs), the text adopted at COP27 clarifies the rules on how to track ITMOs through a registry, what each country’s Article 6 reporting expert reviews should include, and how parties should report the use of ITMO towards the achievement of Nationally Determined Contributions (NDCs). Article 6.4, which governs voluntary cooperation between countries to achieve the goals of the Paris Agreement, did not progress as much as expected, mostly because its Supervisory Body was formed just a few months before COP27 and only had time to meet once before the conference. However, the text approved in Sharm el-Sheikh does bring some clarifications on the transfer of credits developed under the Clean Development Mechanism (CDM) to the Article 6 mechanism. It also gives more details on the type of emissions reductions where the Share of Proceeds (a tax on carbon credit trade under the Article 6 mechanism) should be applied. Carbon market experts, including the International Emissions Trading Association (IETA) that ClimateTrade is a member of, believe 2023 will be a much more productive year in working to define the functioning of Article 6, and that the first credits to be issued under this mechanism should come out in 2025. COP27 carbon market development 2: Loss and Damage Fund This year’s COP was marked by a historic agreement: for the first time, parties agreed to set up a Loss and Damage Fund to help vulnerable countries deal with the consequences of climate change. This is based on the notion that rich countries and their rapid industrial development over the past 200 years are highly responsible for the issues currently affecting the climate, and that the effects of climate change are most felt by countries that contribute very little to global warming. Loss and damage funding, also called climate reparations by some, has been championed by vulnerable countries at climate conferences since before the Paris Agreement was signed, but it took more than a decade – and dramatic climate events like this year’s Pakistan flooding – for this item to be added to the official COP agenda. On the surface, this issue may not seem relevant to carbon markets, but we at ClimateTrade believe that the creation of the Loss and Damage Fund will have a positive impact on the adoption of the carbon market. Some of the developing countries that have been fighting for climate reparation have also been reluctant to adopt carbon finance mechanisms, as they have seen the development of the carbon market as detracting from the issue of loss and damage. For that reason, they may have put off carbon initiatives in order not to weaken their argument for the creation of the fund. Now that parties have agreed to set up the Loss and Damage Fund, these countries are likely to feel more comfortable participating in the carbon market as an additional avenue for climate finance, rather than as an avenue to replace it. This could result in increased carbon credit supply and improved global participation in the carbon market. Of course, the COP27 Loss and Damage Fund announcement was only an outline: ClimateTrade will watch developments closely to detect any further impact the fund, its rules or its functioning could have on the carbon market. COP27 carbon market development 3: African Carbon Markets Initiative Another big piece of carbon market news announced at COP27 was the launch of the African Carbon Market Initiative, which aims to produce 300 million carbon credits annually across the continent by 2030, and 1.5 billion credits annually by 2050. The goal of the initiative is to unlock more financing for Africa’s energy transition – specifically, US$6 billion by 2030 and US$120 billion by 2050, all the while supporting over 110 million jobs by 2050. Several African nations, including Kenya, Malawi, Gabon, Nigeria and Togo, joined the launch event for ACMI, which is supported by financiers such as Exchange Trading Group, Nando’s and Standard Chartered. COP27 carbon market development 4: Energy Transition Accelerator U.S. Climate Envoy John Kerry made headlines early in the summit by announcing the Energy Transition Accelerator (ETA) – a public-private initiative to fund renewable energy projects through carbon offsets, with the purpose of accelerating the clean energy transition in developing countries. More details are expected in the coming months. COP27 carbon market development 5: First ITMO trade between Switzerland and Ghana While Article 6 remains to be fully finalized, Switzerland and Ghana have completed the first ever voluntary sale of ITMOs under Article 6.2. With this transaction, sustainable rice farming in Ghana will help Switzerland lower its national emissions, while giving Ghanaian farmers an extra revenue stream. The trade shows that countries do not need to wait for COP negotiations to end to act collaboratively on climate.
Biodiversity credits are the latest tool in the climate action arsenal – but how do they work and what is their role in relation to the carbon market? Biodiversity protection and restoration is one of the key topics at COP27 in Sharm el-Sheikh, and for good reason. Ahead of the UN Climate Change Conference, WWF revealed the catastrophic effect of human activity on biodiversity: according to the Living Planet Report 2022, wildlife populations shrank by an average of 69% between 1970 and 2018. How is climate change affecting biodiversity? Climate change has been identified as one of the most significant threats to biodiversity in recent years. Rising temperatures, changing rainfall patterns, and increased frequency and intensity of extreme weather events such as hurricanes, droughts, and wildfires are already having a significant impact on global ecosystems and the species that inhabit them. Some of the effects of climate change on biodiversity include: Range shifts: species that move to cooler climates as their current habitats have become too warm for them, leading to animal extinctions if they cannot adapt to new habitats. Alterations in migration patterns: Climate change is affecting the timing of seasonal events such as flowering, bird migration, and insect emergence. This can disrupt the delicate balance of ecological interactions and result in cascading effects throughout the food chain. Coral bleaching: Warming ocean temperatures have resulted in widespread coral bleaching, where the colorful algae that live in the coral are expelled, causing the coral to turn white and ultimately die. Changes in phenology: The timing of seasonal events, such as when plants flower and when insects emerge, is shifting due to climate change. This can result in mismatches between species that rely on each other, such as pollinators and the plants they pollinate. Why is biodiversity essential for limiting climate change? Climate change is having a profound impact on biodiversity, and we need to implement strategies to address this urgent global challenge. Reducing greenhouse gas emissions are essential in protecting the planet’s ecosystems and the species that rely on them. If the loss of animal and plant life was not tragic enough, this level of biodiversity loss is hindering our efforts to curb climate change: biodiverse ecosystems like forests, peatlands and oceans are natural carbon sinks, and their efficiency is now at risk. What are biodiversity credits? Voluntary biodiversity credits, including the ones developed by Terrasos and ClimateTrade in May and recently recognized by the World Economic Forum, are economic units representing specific actions for biodiversity protection and restoration. In the case of Terrasos, the credits were generated from the Bosque de Niebla-El Globo Habitat Bank in Colombia, with the support of XM, IDB Lab and Partnership for Forest, with each unit representing 10 square meters of land protected for 30 years. Biodiversity credits are typically created through a certification process that verifies the environmental benefits of the conservation or restoration activities. These credits can then be sold on a market to other developers who need to offset the environmental impacts of their own projects. Biodiversity credits – a new way of funding nature protection The role of biodiversity credits was discussed this week during a World Climate Summit panel on carbon offset markets and their role for biodiversity, held in Egypt alongside COP27. As one of the panel speakers, ClimateTrade CEO Francisco Benedito explained that biodiversity credits are set to allow companies, individuals and governments to go beyond carbon neutrality and become “nature-positive”. “As a former banker I was always worried about how to fund sustainable projects for people without collateral. In a renewable energy project, the collateral is the energy that is set to be produced, for instance. But for biodiversity protection projects there is no collateral. This type of unit – biodiversity credits – is a new way of funding nature protection. Because we need to put money to work to avoid further species extinction,” he noted. Beyond the limitations of carbon markets David Antonioli, CEO of Verra and the panel’s moderator, pointed out that as carbon markets have evolved, their limitations have become clearer. “For instance, to make the REDD+ (reduction of emissions from deforestation and forest degradation) work, you need a plausible imminent threat for the forest, that’s the rationale for providing carbon credits. As you get further away from those threats, these projects still provide sustainable livelihoods but because they’re not located where the threat is, they find it difficult to receive carbon finance,” he said, suggesting that biodiversity credits may be able to fill that gap. Verra itself has started to develop a framework around biodiversity credits to ensure that these units can become complementary to the carbon market. Carlijn Nouwen, Co-Founder of the Climate Action Platform for Africa, gave the example of Gabon, a country with very low deforestation rates that cannot access REDD+ creditsm but is looking to monetize the protection of its biodiverse forest. She also emphasized the need to ensure fair compensation for ecosystem services such as biodiversity conservation in the development of these credits: “As we look at paying for biodiversity and ecosystem service credits, we want to make sure we go over and above the financial recognition of carbon credits. We need to innovate with integrity and hold those two things in the right balance to make sure we get equitable compensation for all ecosystem services.” Regulation and education to push demand When it comes to the sources of demand for biodiversity credits, regulation and education are pushing more and more companies towards this offering.” We know about the Task Force on Nature-related Financial Disclosures, 40% of which is about biodiversity. This is one example of how regulation and education are pushing more and more companies to care. People are starting to see that the biggest climate threat is around biodiversity loss. In fact, in this COP I have seen more people than ever trying to get involved in biodiversity conservation,” said Benedito. As to when the biodiversity credit market will reach the maturity of the
John Kerry, the United States’ climate envoy, unveiled the Energy Transition Accelerator yesterday (November 9) at COP27: a carbon offset plan that comes as the vote of confidence the market needed. The Energy Transition Accelerator is a public-private initiative to fund renewable energy projects through carbon offsets, with the purpose of of accelerating the clean energy transition in developing countries. As our CEO Francisco Benedito said in a letter to the editor published in the Financial Times on November 10, the initiative is exactly what the carbon market needs. Private capital at the service of climate action Announcing the program at COP27, Kerry said the noted that the Energy Transition Accelerator is a way for private capital to support the work of governments and NGOs in transitioning to renewable energy sources. “Our administration is working as hard as we can to deliver on President Biden’s pledge to quadruple U.S. climate support by 2024. We are absolutely committed to doing our part. But no government in the world has enough money to get this job done. We will only succeed with a massive infusion of private capital,” he noted. Under the scheme, developing countries could generate carbon credits by shutting down fossil fuel-based power plants and adopting cleaner energy sources. These credits could then be sold to global corporations looking to offset their own emissions. Transparency will be key to success At a time when the credibility of carbon offsets is sometimes put into question, Kerry’s initiative confirms the validity of this climate finance mechanism, when implemented transparently. But as Benedito explains in his letter to this editor, the real work begins now. “For this program to work, it must be executed with precision and transparency. Companies that purchase these credits will want to know from which country and decarbonization initiative they were generated, and they will ask for a guarantee that credits cannot be sold more than once,” he explains. Of course, blockchain technology can support these efforts as reliable infrastructure that allows stakeholders to trace carbon offsetting transactions, increasing trust, transparency and credibility in the market. We at ClimateTrade hope that the Energy Transition Accelerator will follow best practices and leverage the technical and commercial expertise of the entire carbon market ecosystem. More on this topic: Taking carbon markets to the next level at COP27 Sustainable Innovation Forum
Action and implementation are key priorities at COP27. Luckily, fast and ambitious action is our daily commitment at ClimateTrade. Here are some of the milestones we have accomplished between COP26 and COP27. This year’s Conference of the Parties is fast approaching, and with climate change accelerating, stakeholders from all spheres of society have their eyes on concrete actions. COP27’s slogan is ‘Together for Implementation’, a clear sign that it is time to put words into practice. Where to find ClimateTrade at COP27 Request a meeting with our team in Sharm el-Sheikh At ClimateTrade, we’ve always believed in actions more than in words, and one of our core values is ambition: We want to change the world and that can only be done by thinking big. As a result, moonshots are our daily thoughts. In the year from COP26 to COP27, we have taken big steps in three key areas: the promotion of transparent carbon markets, the enhancement of climate finance, and the protection of nature and biodiversity. From COP26 to COP27: Transparent carbon markets Improving the transparency of carbon markets is our core purpose here at ClimateTrade. here are three ways in which we promoted this objective over the past year: Blockchain decarbonization First, we worked with Algorand to make this blockchain network and its entire ecosystem carbon-neutral. Algorand is already the greenest blockchain network, having reduced its energy use tremendously. In December last year, we launched the Green Treasury, a blockchain oracle providing Algorand and its developer community a platform for offsetting the carbon footprint of the entire Algorand network. Since then, we have also started working with several members of the Algorand ecosystem to help them achieve carbon neutrality. We believe that blockchain technology is key to making the voluntary carbon market as transparent as possible. On blockchain infrastructure, all transactions are traceable and immutable, which means double counting is virtually impossible. But this technology comes with a heavy carbon footprint, which could easily defeat its transparent sustainability purpose. By decarbonizing the blockchain ecosystem, we make sure that transparency doesn’t cause collateral damage. Digital Measurement, Reporting and Verification In February 2022, ClimateTrade and BME concluded a successful proof of concept (PoC) for the digital certification of carbon mitigation projects. The initiative laid the bases for digitizing the verification and certification process for projects that generate carbon credits, and for adding them to national registries. Our goal with this is to make the entire process more efficient and transparent, and to guarantee the quality of the carbon credit supply. Digital Monitoring, Reporting and Verification (D-MRV) is an end-to-end solution that guarantees the authenticity and traceability of carbon credits: project developers can register their mitigation in a public and traceable way, allowing all users to verify the integrity of data. This facilitates the transparent purchase of carbon credits and their automated cancellation. International Emissions Trading Association membership Finally, we recently joined the International Emissions Trading Association (IETA). Our membership allows us to be part of international efforts to create effective and transparent market-based trading systems for carbon emissions and advance the United Nations’ Sustainable Development Goals. From COP26 to COP27: Enhanced climate finance One of ClimateTrade’s missions is to direct flows of capital towards climate change mitigation. We believe that it is necessary to shift the global economy towards a sustainable model to truly protect the future of the planet. To this end, we have taken several key actions in the past year. More than 12,000 carbon offsetting transactions To date, ClimateTrade has facilitated the offsetting of more than 3 million tons of CO2, and since COP26 alone, more than 12,000 transactions have occurred on our marketplace, directing much needed funding towards climate-positive projects. Improved marketplace We have also made design and operational improvements to our climate marketplace, which is now being used by more than 11,000 users. The more people and companies use our marketplace, the more capital will be available for sustainable projects. International expansion Finally, we have opened new offices in Miami and Seoul and participated in more than 100 events to raise awareness about the need for decarbonization worldwide. As part of this thought leadership work, we have also published four different white papers and eBooks to support companies’ Net Zero strategies. From COP26 to COP27: Biodiversity and nature protection Climate action is about much more than just decarbonization; that’s why ClimateTrade has been working particularly hard in the past year to promote nature and biodiversity conservation. Voluntary Biodiversity Credits In May 2022, we joined forces with Terrasos to commercialize Voluntary Biodiversity Credits from the Bosque de Niebla – El Globo Habitat Bank on our marketplace. Each credit corresponds to 30 years of conservation and/or restoration of 10m2 of the Bosque de Niebla, home of threatened species such as the spectacled bear, the yellow-eared parrot, and the black-and-chestnut eagle. Since then, more than 100 credits have been sold on our platform, and this initiative has been recognized by the World Economic Forum. Nature-based solutions Our marketplace currently features more than 30 nature-based solution projects, which capture or avoid carbon through forest, soil and biodiversity protection. We make a constant effort to ensure that we offer carbon mitigation projects that also bring added biodiversity benefits. Blue carbon and regenerative agriculture As part of our research and development work, we have teamed up with several new partners to develop methodologies for blue and white carbon, as well as regenerative agriculture. One of these initiatives is the recently announced Albufera Blue Carbon, in which we are working with Valencia’s CE/R+S (Responsible and Sustainable Companies Association) to quantify the carbon mitigation potential of peatlands in the Valencian Community. To find out more about what we have been up to since COP26, check out our announcements page.
With the world’s largest climate event just around the corner and extreme weather events already causing mayhem around the globe, expectations are at their peak this year. Here are the five advances ClimateTrade expects from the event in Sharm el-Sheikh. 1. Full acceptance of the work of the Integrity Council for Voluntary Carbon Markets The Integrity Council for Voluntary Carbon Markets (ICVCM) is doing tremendous work to bring together the entire carbon ecosystem in setting clear guidelines on carbon credit quality and the functioning of the overall market. It is not easy work, and the Council’s attempt to define Core Carbon Principles (CCPs) has been met with resistance, with certain market players, such as Verra, noting that the process being put in place to guarantee the quality of carbon credits would be “unworkable”. We at ClimateTrade firmly believe in the necessity to build integrity in carbon markets, and that will not be possible without the buy-in of all market participants in initiatives like the ICVCM. In response to Verra’s statement, our co-founder and head of impact José Lindo said to Carbon Pulse: “In my opinion, we are overly focusing on the ‘how’, i.e carbon integrity processes, and rather we should start the debate from the ‘why’ i.e the purpose served by the CCPs, and reflect on legitimate requirements voiced by countries, scientists, environmental organizations, indigenous communities and, obviously, voluntary carbon market players.” For this reason, we expect the Conference of the Parties to reaffirm the role of the ICVCM in helping align carbon credit supply with quality and transparency expectations. 2. Final definition of the Paris Agreement’s Article 6 rules Last year in Glasgow, countries clarified some of the rules of Article 6, the part of the Paris Agremeent that governs the functioning of carbon trading between countries. For instance, it was decided that to avoid double counting, the country where the mitigation project is based holds the power to decide whether the credits should go towards its own Nationally Determined Contributions (NDCs) or be sold internationally, in which case it would be listed as a credit on its records. Negotiations also clarified which of the credits generated under the Clean Development Mechanism (the Paris Agreement’s predecessor) could be brought over to the new system, and set up some rules around taxing carbon trading transactions. But much remains to be defined for Article 6 to become operational. In particular, we expect this year’s conference to determine the mechanisms that will govern the use of Internationally Transferred Mitigation Outcomes (ITMOs), the units meant to be used for the international emissions trading between Parties to the Paris Agreement. 3. Regulating the registration of Nationally Determined Contributions (NDCs) Equally, the system for calculating and registering Nationally Determined Contributions (NDCs), the emissions reductions countries decide to achieve every five years, is currently not regulated, which can lead to wide variations in ambition between countries. ClimateTrade expects COP27 negotiations to define rules as to how these contributions are calculated, communicated and adjusted. 4. No changes in Paris Agreement signatories The current geopolitical landscape, particularly the Ukraine-Russia war, could put the future of the Paris Agreement at stake. As seen with the withdrawal of the U.S. from the agreement following the election of Donald Trump, governments have the potential to weaponize the world’s emissions reduction goals to achieve their political ambitions. We hope this year’s Conference of the Parties will see no changes in Paris Agreement signatories or faltering in their commitments. 5. Inclusion of biodiversity in carbon market discussions As our understanding of climate change grows and climate action matures, it is becoming evident that biodiversity protection should be part of the carbon equation. This year will be the 15th edition of the UN Biodiversity Conference, which has been run alongside the climate change conference so far. We expect COP27 to mark a turning point in the way countries approach these two areas of sustainability, and a recognition that the two are inextricably linked. ClimateTrade is already working to protect biodiversity in the same way carbon is offset (through voluntary biodiversity credits) and we believe the nascent nature protection credit system could learn a lot from the development of a working carbon market.
The relationship between COVID-19 and climate change has complex implications that go far beyond logical reasoning. In fact, regardless of the sharp decrease in global emissions due to the confinement of the world’s population, it is a major mistake to claim that global warming has been halted. Large amounts of carbon dioxide and other greenhouse gases have been accumulated in the atmosphere since the Industrial Revolution of the mid-18th century. So, How has this pandemic affected the fight against climate change? Obviously, there has been a remarked reduction in the emission of greenhouse gases into the atmosphere, but this low emission scenario seems to be only a one-off. Climate change remains one of the greatest challenges we are facing as humanity and we will have to keep dealing with it in the future. Pollution may grow after the coronavirus According to Lauri Myllyvirta, an analyst at the Helsinki Clean Air and Energy Research Centre, contamination may be triggered by the coronavirus. The economic downturn and containment measures due to the coronavirus could lead to CO2 emissions to levels not seen since World War II. “This already happened after the financial crisis of 2009,” said the analyst. The attempt to increase production in order to meet their targets will lead to a considerable increase in coal burning, and a return to normal could involve that emissions reach new historic highs. Due to fear and as a preventive measure, public transport will take a back seat, generating an increase in the use of private vehicles for moving around in the cities. In addition, as the global economy is suffering, many people, companies and countries will put the fight against climate change and sustainability goals on hold to make ends meet. There is a high risk that, in the face of the need for recovery, we will lead environmental policies into oblivion, failing to meet all the objectives set by governments and major organisations against climate change. If we want to draw some kind of learning from the COVID-19 in relation to the fight against climate change, that is if we unite as an international community, we can stop any threat, that a world with fewer emissions is possible, that we must not delay the ecological transition and, above all, that we need to take ambitious climate action on mitigation, adaptation and green finance.
It is possible to find carbon credits that offer a balance between cost and impact, but it’s crucial to ensure the credits meet high-quality standards.
Sustainable tourism destinations are receiving European funds to improve environmental performance as a competitive advantage. The public entities managing Next Generation EU funds for the tourism sector are giving priority to projects focused on improving sustainability and environmental impact management, particularly in Spain. Focus on sustainable and digital tourism The sustainable tourist destination program 2021-2023 is a mechanism set up between the Government of Spain and the European Commission to support tourist destinations in their transformation towards environmental, socio-economic and territorial sustainability, and to help them develop resilience strategies against new sector challenges, such as climate change, excess tourism demand or health and safety crises. The program is expected to improve the competitiveness of tourism destinations, thanks to climate change prevention and mitigation actions and the reduction of greenhouse gas emissions, among other things. Sustainability, digitization and mobility ClimateTrade regularly participates in international events on sustainability, such as the Leadership Summit on Mobility Sustainability and Digitization that took place in Seville in November 2021. There, the key aspects of sustainable tourism management were discussed between leading operators. The main themes discussed at these events revolve around the policies, best practices and management tools for executives and operational, financial and marketing managers. The generally accepted roadmap starts with the calculation of greenhouse gas emissions, then their reduction as much as possible, and finally the offset of emissions that cannot be abated. Offsetting emissions also contributes directly to the sustainable development goals (SDGs), since mitigation projects support local communities as part of the positive impact of their actions. Another key aspect of sustainability in tourism is mobility and transportation: destinations should focus on the most polluting forms of travel, such as planes, combustion vehicles, buses and ferries. There is some good news in this area, as vehicles with a lower environmental impact come to market – electric cars, for instance. Finally, the trend towards digital management of tourist destinations and their environmental sustainability brings clear benefits for all those involved in the tourist experience: Visualisation and awareness of environmental data and impacts thanks to transparent digital portals Increased access to information that generates trust, such as flight, car and bus carbon footprint calculation methodology Ability to identify which operators in the ecosystem have a neutral or positive impact, or are reducing their negative impact, for instance by voluntarily offsetting the carbon footprint of other operators or travelers Access to methodology and tools for carbon calculation and impact assessment for the entities managing tourist destinations The sustainable tourism trend is strong: on top of these efforts by public entities to make destinations more sustainable, business travel agencies have also started their journey towards better environmental practices, particularly in their B2B services. For example, the spanish travel agency association GEBTA recently signed an agreement with ClimateTrade to facilitate CO2 offsetting for the business trips organized by its members. Environmental impact monitoring and transparency Since sustainability is now a force for tourism, it is important to highlight how impact is measured and communicated to tourists, operators and those who manage tourist destinations. Solutions that allow easy visualization, such as digital transparency portals or dashboards, are playing an important role in this, displaying real-time and historical information. It will also be crucial to manage tourists’ user experience and perception of the destination’s sustainability, since this is becoming a key aspect of competitiveness in the comparison between different potential holiday spots. ClimateTrade’s digital solutions for sustainable tourism In the near future, tourist destinations will be compared, amongst other criteria, based on the carbon footprint generated by tourists and operators during stays, similarly to what is happening in other sectors and services. Concretely, CO2 emissions and environmental footprint will directly influence purchasing habits. We have already talked about the need for products and services to become carbon-neutral, but making this a reality is not easy – that’s also true about tourism. It is necessary to calculate carbon footprint automatically, and to have a reliable platform to give clients complete visibility over where and how carbon credits are generated. ClimateTrade supports companies in meeting their sustainability and carbon offsetting commitments, strengthening their corporate social responsibility strategy. Our innovative digital solutions, including the ClimateTrade API, have been implemented in various companies from the tourism sector, such as Iberia or Melia Hotels. Check out our case studies: Iberia Melia Hoteles At the end of 2021, we launched the ClimateTrade Widget, which presents similar functionalities, but with an even easier integration process, making it perfect for SMEs and organizations that lack IT resources. The ClimateTrade API and Widget give clients information about the carbon footprint of their purchases and allow them to invest in sustainable projects to offset it. ClimateTrade recognized by the UN World Tourism Organization Tourism can help to accelerate decarbonization goals with the help of companies like ClimateTrade, which in 2021 won the UN World Tourism Organization (UNWTO) SDG startup competition for SDG 13 (Climate Action). Natalia Bayona, UNWTO Director of Innovation, Education and Investments, commented on the competition: “Startups allow society to benefit from new advances in less time, and connecting their projects with potential partners and public and private sector investors helps to ensure their implementation. This flow of knowledge and investment is a novel paradigm to introduce cutting-edge technologies in tourism, for countries as well as corporations.” The UNWTO offers an online showcase for the best emerging companies within the global tourism innovation and entrepreneurship ecosystem, based on its mission to promote sustainable, accessible and inclusive tourism, as well as innovation and digital transformation as a management priority. ……………… Interested? Register on our marketplace and talk to one of our experts. Article written by Francisco Martín, Head of Engineering and International Key Accounts Manager at ClimateTrade.