PARIS, June 30, 2023 (GLOBE NEWSWIRE) -- Ecosystem Restoration Standard (ERS) released a summary of the feedback following the successful completion of its public consultation.
Launched on March 21st, ERS public consultation has exceeded expectations, drawing substantial participation from 554 organisations around the globe.
Thibault Sorret, ERS CEO, explains:
“We’re thrilled by the response to the public consultation. Not only in the number of responses but also in their depth and quality. We’re in the midst of integrating the changes to ensure the Standard meets market expectations, and are expecting to release the revised documentation on September 4th, 2023.”
The public consultation received feedback from numerous stakeholders, including project developers, academics, NGOs and corporate end-buyers. The responses helped shape key changes to the Standard, including:
- Ecosystem Recovery and Biodiversity Assessment: ERS pivoted in its approach, now focusing on the assessment of ecosystem indicators and habitat capacity in relation to the reference ecosystem.
- Project financing: Projects can now be financed by multiple Funders. The Project budget and investment are calculated and secured on a 5-year basis during the whole Project duration.
- ERS Governance: The governance has been revamped, including greater details about the role of the Technical Advisory Board (TAB), the Standard Revision Procedure, and the independence of ERS teams.
You can access the full consultation digest by clicking here.
Participate in the official launch of the Ecosystem Restoration Standard in September. Follow the ERS Linkedin Page to learn more.
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 restoration efforts that combat climate change, uplift biodiversity, and improve livelihoods.
By integrating next-generation dMRV (Digital Monitoring, Reporting & Verification) into the Standard, ERS is able to continuously track progress across multiple baselines, providing greater traceability and transparency for project developers and buyers.
Key Figures & Facts
- Founded in December 2020 and raised €5M seed round in 2022
- Headquartered in Paris, France and employs 23 people globally
- Conducted a 45-day public consultation from March 21, 2023, to May 5, 2023