Climate change currently represents the greatest environmental, social, and economic threat to the planet. The sixth IPCC report published in 2021 states that it is a fact that human activity has warmed the atmosphere, the ocean, and the land. It also states that global warming of 1.5°C and even 2°C will be exceeded during the 21st century if there are no deep reductions in emissions of CO2 and other greenhouse gasses into the atmosphere in the coming decades.
Climate change has become a key issue in development and corporate social responsibility agendas; the main factor driving this trend is the increase in environmental awareness among clients and consumers. This responsibility on the part of companies and institutions can be understood as an opportunity, since demonstrating environmental commitment offers a differentiating value compared to the competition.
CSF’s Piensa Verde initiative in partnership with Servicios Ambientales (SASA) and sub-national governments in Bolivia, is piloting the first Bolivian water and carbon footprint measuring mechanism. This mechanism includes three components: measurement, reduction strategies, and compensation. CSF worked with Bolivian sub-national governments to establish regulation that requires private companies to offset their environmental footprint in Bolivia, and to establish a certification offered to participating companies.
CSF is working towards long-term sustainability of the program by demonstrating the success of the early pilot and onboarding additional companies to use the tool to measure their own environmental footprint, and pay a compensation for it that will promote the conservation and regeneration of nature.
Over the course of the project, CSF and SASA have collaborated with five partner companies to measure their carbon and water footprint, and to then committee to reducing those footprints to earn a certificate from the government and compensate for environmental harm.
Long after the project is completed, we expect more companies will use this water and carbon footprint measuring mechanism to understand and offset their carbon footprint in Bolivia. We hope that the regulations empowered by this mechanism will be integrated into both governmental policies, and private sector commitments to the fight against the climate crisis.
