Abatable Partners With The Olympic Games Paris 2024 To Deliver Lasting Climate Legacy

Abatable Partners With The Olympic Games Paris 2024 To Deliver Lasting Climate Legacy - Carbon Herald

Abatable, a leading provider of end-to-end carbon market solutions, has partnered with the Olympic and Paralympic Games Paris 2024 to source and vet six high-impact climate action projects to expand the Games’ global impact. These projects are central to Paris 2024’s Climate Solidarity strategy, supporting the Games to build a thriving future for climate, nature and people.

Through Abatable, Paris 2024 is supporting climate action across Guatemala, Kenya, Nigeria, Senegal, and the Democratic Republic of the Congo. Paris 2024 has purchased 1.3 million carbon credits from projects that collectively protect more than 400,000 hectares of threatened forest, conserve habitats for 45 threatened species, provide access to clean energy in 200,000 households, and distribute more than 600,000 clean cooking stoves.

In addition to tackling greenhouse gases in our atmosphere, the Paris 2024 portfolio is supporting the UN Sustainable Development Goals by protecting nature, expanding access to clean cooking, promoting gender equality, improving health, and empowering local communities to be drivers of change.

The partnership was delivered leveraging Abatable’s end-to-end carbon market solutions. Through its carbon sourcing platform and due diligence capabilities, Abatable reviewed and assessed hundreds of carbon credit project proposals to identify those that met Paris 2024’s stringent quality criteria. By leveraging its proprietary carbon pricing and policy data and insights, Abatable then structured and delivered an innovative carbon offtake strategy to provide certainty for the Games and financial support for the project development partners.

Relevant: New Abatable Analysis: Carbon Credit Demand Will Exceed Supply

As well as providing certainty, this lengthy and strategic collaboration with Paris 2024 allowed the projects to develop and validate the carbon credits before the start of the Games.

Valerio Magliulo, CEO and Co-founder of Abatable, said: “We are extremely proud to be supporting the Olympic and Paralympic Games Paris 2024, contributing to climate action beyond what is already a pioneering emissions reduction strategy for a global sporting event. This partnership is a testament to how our carbon sourcing capabilities and expert insights help large organisations navigate the voluntary carbon market with confidence, locating and enabling high-impact, high-integrity climate action. Together, we have enabled Paris 2024 to leave a lasting legacy for climate, nature and people.”

Georgina Grenon, Director of Environmental Excellence, The Organising Committee for the Paris 2024 Olympic and Paralympic Games, said: “Our partnership with Abatable has enabled us to amplify our impact in a credible and tangible way. Their strong market access and expertise allowed us to feel confident that our climate solidarity portfolio was aligned with our ambitions to achieve high-integrity impact. Over the course of more than three years, Abatable has been by our side enabling us to navigate an evolving and complex voluntary carbon market and maintain our course towards delivering a lasting legacy for the Games.”

Relevant: New Abatable Report Says Voluntary Carbon Market Is At A Critical Point

The final portfolio, sourced over multiple years, includes The Conservation Coast and Chyulu Hills REDD+ conservation projects in Guatemala and Kenya, clean cookstoves projects in Kenya, Nigeria and South Kivu in the DRC, and the Sakal Solar PV renewable energy project in Senegal.

Paris 2024’s Climate Solidarity strategy is using a climate contributions model to support additional climate action beyond the Games’ direct influence. For the Games’ residual emissions that cannot be avoided, the Organising Committee for the Olympic and Paralympic Games Paris 2024 chose to finance projects that will help combat global warming while providing co-benefits for local populations and biodiversity.

The investment complements first-class sustainability initiatives within the Games’ operational boundary, which include reducing their carbon footprint 50% compared to previous events.

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