ERS Launches a Public Consultation on its new Standard, Ensuring Climate Finance Reaches Projects
- ERS announced last month its next-generation Standard to certify restoration projects on the Voluntary Carbon Markets (VCMs).
- The company launches a public consultation on this new Standard, open globally until May 5th 2023.
- The consultation process ensures the Standard is well-informed and aligned with the needs and expectations of its users.
Paris (France), April 20th, 2023 - ERS kicks-off a public consultation for the Ecosystem Restoration Standard, which assesses and monitors the impact of restoration projects on climate, biodiversity, and local livelihoods. ERS is committed to empowering local communities by ensuring 70% of climate financing is channeled directly to the ground. The public consultation will gather input and feedback from key actors, including corporates, NGOs, governments, local communities, and other stakeholders.
The consultation process will help ERS guarantee that the standard is well-informed, practical, and aligned with the needs and expectations of its users.
Founded in 2020 by Thibault Sorret (CEO) and Priscille Raynaud (Director of Operations), the Ecosystem Restoration Standard was built in a context where the voluntary carbon markets present a challenge for astute buyers. As historical carbon credit inventories deplete, projects are sold at multiples of their true cost, profiting middlemen rather than projects and communities on the ground.
The company's founders believe that the Ecosystem Restoration Standard will enable more financing to reach restoration sites. The standard stipulates that at least 70% of the financing needs to go to the project. In doing so, the company hopes that its upcoming standard will enable restoration projects to play a critical role in meeting global climate and biodiversity objectives.
Thibault Sorret, Co-Founder and CEO of ERS, explains:
By engaging key actors and the general public in the consultation process, the standard is more likely to be widely adopted and positively impact the ecosystem restoration initiatives and projects it aims to support. Our stakeholders’ opinion matters to us. We want their feedback on the Ecosystem Restoration Standard.
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Participate in the Public Consultation on the Ecosystem Restoration Standard until May 5th 2023. Please note that ERS has presented the Standard in detail during a Webinar session. Watch the replay. |
About the Company
The Ecosystem Restoration Standard is a certification for nature-based restoration projects on the Voluntary Carbon Markets. It is designed to empower small-scale, community-led restoration efforts that combat climate change, uplift biodiversity, and improve livelihoods.
By integrating next-generation dMRV (Digital Monitoring, Reporting & Verification) into the Standard we are able to continuously track progress across multiple baselines, providing greater traceability and transparency for project developers and buyers.
To learn more visit our website https://www.ers.org
Key Figures & Facts
- Founded in December 2020 by Thibault Sorret and Priscille Raynaud
- 23 employees from 7 nationalities, a remote-first company headquartered in France
- Raised a €5M seed round led by Localglobe and RAISE Seed for Good
- Validated standard design on 3 pilot projects in Panama, Costa Rica and Madagascar
- Deep expertise in remote sensing technology, the team includes PhDs, data scientists and data engineers
- Co-developed with project developers on the ground
- Technology was built in partnership with the European Space Agency and French Space Agency
- Worked with world-renowned climate, biodiversity, and livelihood experts during 2 rounds of private consultation
Press Contacts
Pauline VETTIER Press Officer p.vettier.ext@ers.org | Thibault SORRET Co-Founder and CEO t.sorret@ers.org +33 (0)6 46 34 35 64 |
Media room - The Ecosystem Restoration Standard