{"id":64158,"date":"2022-04-13T09:52:00","date_gmt":"2022-04-13T16:52:00","guid":{"rendered":"https:\/\/www.salesforce.com\/?p=64158"},"modified":"2022-11-22T09:00:48","modified_gmt":"2022-11-22T17:00:48","slug":"salesforce-launches-new-initiatives-to-grow-sustainable-ocean-based-carbon-markets","status":"publish","type":"post","link":"https:\/\/www.salesforce.com\/uk\/news\/stories\/salesforce-launches-new-initiatives-to-grow-sustainable-ocean-based-carbon-markets\/","title":{"rendered":"Salesforce Launches New Initiatives to Grow Sustainable Ocean-Based Carbon Markets"},"content":{"rendered":"\n

Salesforce and global environmental NGOs will co-lead effort to help define high-quality blue carbon projects and credits <\/em><\/p>\n\n\n\n

Salesforce joins ORRAA to help drive their commitment of $500 million<\/em><\/em> to strengthen climate resilience of coastal communities<\/em><\/p>\n\n\n\n

Salesforce hires UN leader Tim Christophersen as incoming Vice President of Climate Action<\/em><\/p>\n\n\n\n

Today at the Our Ocean Conference<\/a> convened in the Republic of Palau, Salesforce announced a global collaborative effort aimed at driving consistent standards around high-quality blue carbon projects and credits. <\/p>\n\n\n\n

Blue carbon is the carbon captured by ocean and coastal ecosystems, such as mangroves and seagrasses, that is increasingly used by companies to offset their carbon emissions on their paths to reach net zero by 2050.<\/p>\n\n\n\n

As businesses, investors and governments look to scale the blue carbon market, it\u2019s critical that investments are made in high quality projects<\/a> while also yielding community leadership, transparency, and standardization.<\/p>\n\n\n\n

\u201cWe want to leverage the power of nature to capture carbon and fight climate change. As investments in the blue carbon market grow, we must ensure that projects truly safeguard biodiversity, protect coastal and marine ecosystems, and ultimately improve the livelihoods of people in local communities,\u201d said Whitney Johnston, Ph.D., Director of Ocean Sustainability at Salesforce. <\/p>\n\n\n\n

The initiative will be co-led by Salesforce and leading environmental organizations, including the World Economic Forum\u2019s Friends of Ocean Action<\/a>, Ocean Risk and Resilience Action Alliance <\/a>(ORRAA), Conservation International<\/a>, and The Nature Conservancy<\/a>, along with the Meridian Institute<\/a>, to support the stakeholder engagement process. A draft set of principles and definitions will be circulated for public comment in June 2022 at the United Nations Ocean Confere<\/a>nce<\/a> in Lisbon. <\/p>\n\n\n\n

As Salesforce decarbonizes its business, we’re leveraging technology, philanthropy, mobilization, policy, and investments in nature-based solutions to reach our climate goals”<\/p>Dr Whitney Johnston, Director of ocean sustainability, salesforce<\/cite><\/blockquote>\n\n\n\n

As part of its ongoing commitment to help develop the emerging blue carbon market, Salesforce set a goal<\/a> to purchase 1 million tons of high-quality blue carbon credits, equivalent to more than $10 million USD<\/a>, over the next four years.<\/p>\n\n\n\n

\u201cAs Salesforce decarbonizes its business, we\u2019re leveraging technology, philanthropy, mobilization, policy, and investments in nature-based solutions to reach our climate goals,\u201d said Dr. Johnston.<\/p>\n\n\n\n

Salesforce joins ORRAA to increase investment in ocean protection<\/h2>\n\n\n\n

Several factors \u2014 including pollution, over-extraction, habitat damage and climate change \u2014 have imperiled the ocean economy. By 2050, 800 million people<\/a> globally will be vulnerable to coastal flooding and storm surges from rising sea levels. Coastal ecosystems, like reefs and mangroves, serve as powerful buffers against storms and flooding, and support livelihoods, food security, and culture. However, less than 1% of the total value<\/a> of the ocean has been invested in sustainable projects through philanthropy and official development assistance. <\/p>\n\n\n\n

That\u2019s why Salesforce is joining ORRAA, a multi-stakeholder collaboration with a goal to drive at least $500 million of investment into coastal projects by 2030. The United States also announced its support for ORRAA, including a $1 million contribution.<\/p>\n\n\n\n

\u201cAt the moment, there are too few on-the-ground solutions which can be a source for high-quality, verifiable blue carbon credit products ready to go to market, and no clear benchmarks or definitions of what a high-quality blue carbon product is \u2013 or should be,\u201d said Karen Sack, Executive Director, ORRAA. \u201cIt is also important to develop demand-side guardrails to ensure that blue carbon credits are additional \u2013 not an alternative \u2013 to efforts to reach net zero. We are delighted that Salesforce is joining ORRAA and to be working jointly with them and other partners on this effort.\u201d<\/p>\n\n\n\n

Since founding the Ocean Sustainability Program<\/a> in 2021, Salesforce has given nearly $3 million through philanthropy<\/a> to organizations working to conserve and restore coastal and marine ecosystems.<\/p>\n\n\n\n

Salesforce hires former UN head of nature based solutions <\/h2>\n\n\n\n

Salesforce has hired global sustainability leader Tim Christophersen as the incoming Vice President of Climate Action to drive Salesforce\u2019s strategy around nature-based solutions to climate challenges, and accelerate the company\u2019s international sustainability work. <\/p>\n\n\n

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Tim Christophersen, Salesforce’s Vice-President of Climate Action<\/em><\/figcaption><\/figure>\n
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