How we back objectives of COP 27

The 27th session of the Conference of the Parties (COP 27) to the UNFCCC is about:

Mitigation: how countries are reducing their emissions

Adaptation: how are countries going to adapt and help others do the same?

Climate finance: the elephant that never leaves the negotiation room

The session highlighted the commitments from previous COPs, however outlined that enough had not been done to achieve the 1.5-degree reduction target, citing the recent disasters in developing nations.

This led to a call to action by developed nations to fund developing nations for these damages, hence, to be around loss and damage financing taking a center stage in this year’s COP. 

Mitigation: how are countries reducing their emissions? 

Climate Change Mitigation refers to efforts to reduce or prevent the emission of greenhouse gases. Mitigation can mean using modern technologies and renewable energy sources, making older equipment more energy efficient, or changing management practices or consumer behaviors 

GSM (Global Sustainable Markets) Holdings Mitigation Strategy for emissions: 

  • GSM created its own emission avoidance and landfill reclaim strategy

  • In addition to reflecting our emissions, GSM Holdings purchased United Nations carbon offsets and planted trees. In addition to reducing our carbon footprint, these projects and tree plantings benefit social and governance initiatives. By planting trees with One Tree Planted in British Columbia and England, we helped to restore, conserve, and protect endangered rainforests. 
  • Promoting and integrating the concept of carbon accounting: GSM Holdings modeled their GHG (Green House Gas) accounting with two aspects “Carbon emitted” and “Carbon offset”. A surplus of “Carbon offset” over “Carbon emitted” leads to a carbon double-down profit. Incorporating the profit component increased the system’s comparability to classic financial accounting.

Adaptation: how are countries going to adapt and help others do the same? 

The Paris Agreement has established a global goal for adaptation, which the delegates adopted at COP26. It is the act of adapting a work program to meet the global goal of adaptation outlined in the Paris Agreement. To achieve a more climate-resilient future, the plan seeks to equip communities with the necessary knowledge and tools. As part of the COP27 Presidency’s mandate, nations must capture and assess their progress in enhancing resilience and helping communities that are most vulnerable. The goal is for countries to make more detailed and ambitious commitments in their national climate plans regarding adaptation.

GSM Holdings Adaptation Strategy:

  1. GSM has adopted an adaptation mindset from its ideation. We aim to not only offset, but double down on carbon emissions thus creating a carbon handprint. We further aim to help others adapt through our white papers and knowledge hub.
  2. GSM’s released white papers providing insights into GSM Holdings’ pre-seed emission accounting method and key accounting methods used by GSM to account for carbon emission.
  3. The whitepaper offers guidance to other stakeholders, start-ups, and climate enthusiasts on how to manage their GHG emissions.
  4. To better quantify the possible positivity in the sector, we have published our own metrics and model, given below:
  5. We have also created an informational pool for our stakeholders, accessible through our GSM ESG (Environmental, Society, and Governance) Knowledge hub.

Climate Finance: the elephant that never leaves the negotiation room

Climate finance will be a top theme once again at COP27, many finance-related discussions are already on the agenda, with developing countries making a loud call for developed countries to reassure sufficient and adequate financial support, particularly to the most vulnerable.

GSM Holdings climate finance Strategy:

  1. GSM Holdings forecasted carbon emissions from 2021 to 2022 to budget for verified carbon offsets and tree planting. Delphi and other forecasting methods were used to arrive at a conservative assumption for 2022 data.  In accordance with this, GSM provides for tree planting and verified carbon offset annually during the end of the calendar year.

 

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