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Water Benefit Partners Newsletter – Issue 1, September 2013
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Greetings
With the water benefit financing mechanism rapidly taking shape, we are pleased to present the first issue of our newsletter on behalf of the Water Benefit Partners Public Private Partnership (WBP PPP), The Gold Standard Foundation and First Climate. This newsletter includes the most current developments, events, projects and other news covering all aspects of Water Benefit Certificates (WBCs).
Formed in 2011, Water Benefit Partners is a Public Private Partnership that was initiated to develop an innovative financing mechanism for water projects based on a common currency called Water Benefit Certificates. The partnership was spearheaded by First Climate and is managed jointly with The Gold Standard Foundation with co-funding provided by the Swiss Development Cooperation.
With various partners and stakeholders on board, the Public Private Partnership aims to develop the Water Benefit Certificate mechanism as a public good to help raise additional finance for water projects. In 2013, The Gold Standard Foundation was elected as the administrator of the Water Benefit Standard and has started to develop and implement the necessary infrastructure to certify projects developed under this unique mechanism.
Building upon the tested and trusted Gold Standard certification and verification cycle for carbon projects, the Water Benefit Certificate mechanism uses a market-based approach that is centered around the idea of financing water-related projects based on the benefits they generate. WBCs serve as a common currency for a wide range of water projects and capture these benefits by certifying that a certain volume of water has been saved, supplied or purified by a certain project during a specific period of time.
As project managers, First Climate and The Gold Standard Foundation each have over ten years of experience in environmental markets as representatives of the private and the NGO and development communities respectively. Our task is to tap into each of our natural areas of expertise and create a thriving market for water finance through stimulating supply and demand for WBCs among water-conscious industries in the private sector and encouraging good water practices through sustainable projects.
We hope you enjoy this newsletter and please do not hesitate to contact us if you have comments or questions about the Water Benefit Certificate mechanism.
With best regards,
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Partners Launch the Second Phase of the Water Benefit Partners Public Private Partnership
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At the end of June 2013, the first phase of the Water Benefit Partners Public Private Partnership – which started in July 2011 – came to an end, with the launch of the second biennial phase following close on its heels. The main purpose of the Water Benefit Partners PPP is to develop a first draft of the Water Benefit Standard to be approved and managed by The Gold Standard Foundation.
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Towards the end of the summer this year, the Water Benefit Partners convened in Frankfurt to review the progress made during the first two years and to set the course for its future objectives up until June 2015. The three major goals identified for the next two years are to hand over the administration of the Water Benefit Standard to The Gold Standard Foundation, to expand the supply of Water Benefit Certificates (WBCs) through the development of new demonstration projects, and to stimulate WBC demand through marketing and promotion of the Water Benefit Certificate mechanism.
The Gold Standard Foundation was elevated to Program Manager for the PPP alongside First Climate to reflect its new role as the Water Benefit Certificate standard administrator. It has now set out a detailed plan for the coming months, establishing an administrative infrastructure and managing public consultations on the recently completed draft of the Water Benefit Standard.
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The Water Benefit Partners also welcomed a number of new partners, including Carlsberg Group, Coop Switzerland, Olam, International Federation of Red Cross and Red Crescent Societies, Worldvision, Climate Care and Quantis, along with observers from the European Investment Bank, IUCN, and the ANZ Banking Group.
For further information see www.waterbenefitpartners.org
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Constitution of Water Technical Advisory Committee (WTAC) at the Gold Standard Foundation
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The Gold Standard Foundation and the Water Benefits Partners are pleased to announce the selection and establishment of The Gold Standard Water Programme’s Technical Advisory Committee (WTAC), an interim, independent technical body of experts for The Gold Standard Foundation’s Water Programme. It will provide expert advice and strategic input to the Water Benefit Standard in order to ensure the credibility, environmental integrity and positive impact on sustainable development of Gold Standard water activities. The WTAC will oversee the establishment of a demonstration framework, including rules and regulations, project certification issuance procedures, registry establishment, methodology approvals and pilot projects, through which a future Water Certification Scheme can be explored.
The Gold Standard has selected members with a diverse range of expertise in water, carbon project development, Water Access, Sanitation & Hygiene (WASH), agriculture, environmental impact and financing, and from some of the most respected organisations in the water space. They include:
- Todd Gartner, World Resources Institute
- Anna Forslund, Stockholm International Water Institute
- Scott Harder, Environmental Financial Group
- Samuel Bryan, Nexus Carbon For Development
- James Dalton, International Union For the Conservation of Nature
- Jamie Pittock, Australian National University, Water Stewardship Australia
- Biksham Gujja, AgSri Agricultural Services
- Sascha Lafeld, First Climate
- Adam Harvey, Whave
Although there was little fanfare, it was with much excitement that the inaugural water TAC meeting got underway in August 2013. There was a general buzz of anticipation as members dialed one by one into the conference call and we began to discuss this cutting edge and innovative results-based finance approach to water projects. The key focus of the meeting was to introduce committee members to each other as well as to the goals and objectives of the WTAC. The committee was introduced to the rules and regulations of the WTAC, the progress made so far by the Water Benefits Partnership and the current procedures for developing a project under The Gold Standard’s carbon framework.
As the standard is developed and approved by the WTAC over the coming months, The Gold Standard will hold a series of meetings and online forums to inform, and engage with, stakeholders, interested parties and other water and standards professionals to seek input and feedback on the draft version of the scheme. This feedback will be assessed by the WTAC and incorporated where appropriate into the final document next year. If you would like to participate, please express your interest by filling out the form found on The Gold Standard’s website.
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World Water Week in Stockholm (by Brendan Smith)
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World Water Week which takes place each year in Stockholm has, for 20 years, been the annual focal point for the globe's water issues with around 200 collaborating organisations and individuals convening to exchange views, experiences and practices between the scientific, business, policy and civic communities. This year’s theme was ”Water Cooperation – Building Partnerships” – a very apt theme for my first attendance representing The Gold Standard Foundation alongside First Climate’s Sascha Lafeld and Jacob Bourgeois, who were in Stockholm on behalf of the Water Benefits Partners.
World Water Week was a great opportunity to engage with the large water community represented at the conference and outline the cutting edge and unique results based financing approach being developed by The Water Benefits Partners and The Gold Standard. Sascha presented our concept at a workshop on public private partnerships in the water sector. There was a great deal of interest in our approach and our work was received positively. There were many and varied seminars and workshops throughout the week being hosted by academia, NGOs, corporates, governments and technology companies and a general consensus was apparent that more needs to be done if we are going to ensure freshwater supply for a growing population and the requirements of the environment into this century and beyond. It was heartening to note the large corporate presence, their recognition of their roles and responsibilities in water stewardship and a willingness to improve and adapt business models.
When we weren’t presenting and attending seminars, Sascha, Jacob and myself spent much of our time engaging with the more than 3000 participants in the meeting hall. Unlike carbon, the results based finance Water Benefits Certificates concept is novel and required some explanation but those with whom we engaged grasped the potential of the approach and were keen to learn more.
It was a very positive week all round, but perhaps the highlight for me was the opportunity to finally meet some of our new technical advisory committee members over dinner. It is always great to put faces to names and to be able to do so over a lovely Swedish meal made it even more memorable.
For more information see programme.worldwaterweek.org/
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Call for Water Benefit Certificate Demonstration Project Proposals
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As part of the next phase of the PPP, the Water Benefit Partners are taking proposals for new water benefit projects to scale up the supply and diversity of Water Benefit Certificates. Over 25 projects have already been submitted to the Water Benefit Partners by a wide variety of developers representing diverse backgrounds and geographical locations. In due course, the partners will select around 3-5 projects to showcase the variety of sustainable practices to which water financing can be applied. These projects will be developed under the umbrella of the Public Private Partnership according to the newly developed Water Benefit Standard rules.
Water is a multifaceted and inherently local resource. Buyers of WBCs are likely to express different motivations, priorities and approaches to water stewardship. The selected projects will therefore cover a diverse range of water projects, appealing to the broadest range of buyers’ possible and thus securing the optimum amount of financing for these deserving water-based activities. Beyond IDEI’s drip irrigation project in India, already underway as the first WBC demonstration project, further possibilities include water purification, promoting water-efficient agricultural or production techniques, WASH (Water Access, Sanitation and Hygiene) projects and community water supply management. Ideally these projects will also represent distinct regions of the world. The 3-5 selected projects will be eligible for receiving extra benefits including free methodology development, reduced validation and verification costs and in-kind contributions from First Climate to help complete the necessary standard documentation.
All project developers interested in proposing a demonstration project are encouraged to fill out a project idea note (PIN) and submit it to info@waterbenefitpartners.org or fill in all information directly at www.cdmgoldstandard.org/our-activities/gold-standard-water by November 1, 2013.
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Meet the Water Benefit Standard Team
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About Brendan Smith
(Gold Standard Foundation)
Brendan is the manager of The Gold Standard Foundation’s Water Programme. Before joining The Gold Standard Foundation, Brendan was an independent environmental consultant in the Lake Geneva region working on water policy and carbon finance mechanisms. Prior to relocating to Switzerland in 2011, he was a project manager for AECOM Australia where he worked on biodiversity, threatened species and aquatic health assessments for large scale infrastructure projects, water catchment management and restoration, contaminated land and environmental impact assessment. Brendan also has a strong background in media and communications, having previously worked in the industry for 12 years. He has degrees in media studies and environmental science.
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About Sascha Lafeld and
Jacob Bourgeois
(First Climate)
Sascha is the founder and CEO of First Climate Markets AG based in Frankfurt. Before founding First Climate, Sascha studied in Muenster, London and Tokyo and finished this part of his life with a PhD on Carbon Emissions Trading. He started his professional career at the United Nations Environment Programme (UNEP) in Paris and then moved to Frankfurt to set up Dresdner Bank's Sustainability and Climate Change Department. In 2003, he founded First Climate. Since then he has been dealing with climate change and water scarcity helping to develop market instruments to address the related challenges. In 2011, Sascha initiated the Water Benefit Partners PPP.
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Jacob is a business development manager at First Climate Markets AG in Frankfurt, Germany where he is co-managing the Water Benefit Partners PPP and First Climate Water Services Department since 2012. He was previously a research assistant at the Institute for Cooperation in Developing Countries at the Philipps-University of Marburg, Germany where his studies focused on economics, development and the Arab Middle East.
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info@waterbenefitpartners.org | www.waterbenefitpartners.org
www.cdmgoldstandard.org | www.firstclimate-climateneutral.com
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