Global Courant 2023-05-12 20:37:32
The Nobel Sustainability Trust will inaugurate the World Sustainability Standards Organization in October 2023, working with numerous governments and international organizations, NST Chairman Peter Nobel announced May 12. The announcement was made simultaneously in New York and Zurich, where the WSSO will be headquartered.
The mission of the WSSO, said Mr. Nobel, is to unify standards in sustainable development such as energy, carbon credit, green finance, the environmental industry, energy conservation, carbon neutrality related technologies and ESG (environmental, social and governmental) investments.
In addition, WSSO will support the carbon market rollout and other projects outlined in the Paris Agreement. It will seek to strengthen international coordination of carbon payment and settlement by integrating the central bank digital currencies of several countries. WSSO strives for global convergence of standards, helps form an inter-regional common carbon market, and coordinates the use of CBDCs for carbon settlement and other mechanisms for global collaboration.
WSSO will establish research centers and various professional committees in Zurich, Beijing and New York. In the future, it will open standards certification centers in multiple regions and countries around the world, supporting the synchronization of national and regional standards and reducing geographic, economic and technical barriers to international sustainable development cooperation.
The announcement stated that the organization believes that “the goals, principles, policies, measures and institutional arrangements of existing global climate treaties, such as the Kyoto Protocol and the Paris Agreement, are based on scientific research and an understanding of historical responsibilities” . “These agreements have come about after lengthy and difficult negotiations,” it says, “they show a deep respect for history and promote the shared goal of sustainable development.”
Within this framework, the organization will encourage each country to “take constructive and transparent actions and work together in solidarity,” the announcement said. “The purpose of the WSSO is to strengthen the principles and provisions of existing conventions and agreements. The existing institutional arrangements are beneficial to developing countries and provide channels for developed countries to help developing countries achieve carbon neutrality.”
WSSO’s priority is “to establish a global carbon market mechanism,” the announcement said. “The carbon market mechanism is enshrined in Article 6 of the Paris Agreement and must be implemented swiftly and conscientiously. The tax on the EU carbon border adjustment mechanism is unilateral, so a global carbon market must be established in accordance with Article 6 to cover this unilateral measure.”
Bruno Wu. Photo: Global Courant Files
On how to measure the carbon footprint of products in the spirit of the Paris Agreement, the announcement says: “WSSO believes that technical standards and models should be researched and developed by the different standards organizations worldwide, and consensus is needed achieved through thorough negotiation and then embodied in a widely accepted carbon conversion algorithm.”
WSSO will appoint three representatives, one each from China, the United States and the European Union, to lead the day-to-day work of its Executive Committee, under the responsible Secretariat. The first head of the Secretariat will be Bruno Wu, PhD, one of the first recipients of the Nobel Prize for Sustainability.
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