The 10 Core Carbon Principles that underpin our climate action partnership
The 10 Core Carbon Principles that underpin our climate action partnership
Written by: James Parkes | 3-4 minute read
Every positive action that our users log in the myday app, helps them to accumulate Planet Points, which we collect and exchange for carbon credits from our climate action partners, Ecologi.
myday chose to partner with Ecologi very early on in our journey, because of their commitment to support credible and high-quality carbon offsetting projects.
All of their projects can be viewed on their website here, which helps to bring our collective climate action to life, making our app users carbon credit contributions more tangible and impactful.
Ecologi’s actions align with our 10 Core Carbon Principles, so with the help of their team, we’ve outlined each of them in this summary below.
Governance
Effective governance
Ecologi ensures effective program governance to maintain transparency, accountability, and continuous improvement. Our Climate experts do an internal assessment of over 200 projects each month, choosing only a handful of the best projects demonstrating our commitment to quality and program governance. We also record our finances as well as evidence of all the carbon credits we retire and trees we plant in our Impact ledger.
Tracking
We work closely with the carbon intelligence platform, Sylvera to track the impact and quality of projects, Sylvera has a stringent process that they follow to scrutinise carbon credit projects tracking metrics like permanence and additionally..
Transparency
Ecologi provides comprehensive and transparent information on all of the projects we support as well as evidence in our impact ledger. We also record our finances as well as evidence of all the carbon credits we retire and trees we plant in our Impact ledger. Our customers can access certificates for the credits they purchase with us and also have access to the retirement certificates from the registries we collaborate with.
Robust independent third-party validation and verification
Ecologi collaborates with Sylvera, a leading carbon intelligence platform, for independent verification of the carbon projects we support. This partnership aligns with the requirement for robust third-party validation and verification. We also only work with credit suppliers that have their own robust due diligence process.
Emissions Impact
Additionality
Ecologi ensures that the GHG emission reductions or removals from the supported projects are additional. Our Internal climate experts assess projects to select those that would not have occurred without the carbon credit funding.
Permanence
Ecologi focuses on supporting projects with permanent GHG emission reductions or removals. By investing in verified initiatives in forest protection and restoration, We address the risk of reversal and compensate for any potential reversal additionally. Sylvera's support along with the due diligence of our Climate experts ensures we support permanent projects.
Robust quantification of emission reductions and removals
This is again, achieved through our Impact teams analysis of projects along with the support from Sylvera.
No double counting
Ecologi ensures that the emission reductions or removals from the projects they support are not double counted. They count them only once towards achieving mitigation targets or goals, adhering to the principle of no double counting.
Sustainable Development
Sustainable development benefits and safeguards
Ecologi's collaboration with Sylvera ensures that the supported projects conform to or go beyond established industry best practices on social and environmental safeguards. This commitment ensures positive sustainable development impacts. Our impact team also aims to select projects with as many co-benefits as possible.
Contribution toward net-zero transition
Ecologi focuses on supporting projects that align with the objective of achieving net-zero GHG emissions. By avoiding investments in carbon-intensive practices, they contribute to the transition towards a net-zero future.
Ecologi's adherence to these Core Carbon Principles demonstrates their commitment to high-integrity carbon credits, sustainability, and transparency in the voluntary carbon market.
This makes them a natural choice of partner for myday, and one that we are proud to support and collaborate with.
myday puts employee wellbeing at the heart of ESG, whilst supporting efforts to address the most pressing social issues of our time. We're contributing to a happier world by supporting a happier workforce. From employee wellness tools to verified global impact projects and high integrity carbon credits, myday is the heart of delivering employee wellness, and impacting ESG goals for our clients.
If you would like to learn more about myday and how we can deliver your wellness and ESG initiatives whilst taking climate action, reach out to schedule time for a call.
Other Blogs
