BEYOND ALLIANCE DOUBLES DOWN ON MARKET-BASED CLIMATE ACTION
September 25, New York, USA
A leading coalition of companies and NGOs have re-affirmed their shared commitment to drive market-based action on climate change, unveiling a new strategy for unlocking corporate climate finance at scale.
Re-launched at New York Climate Week under a new moniker, Beyond, the group presented its vision for doubling down on efforts to mobilize the climate solutions required to achieve a safe and resilient future in a private event hosted today by ICVCM, VCMI and Bloomberg, targeting carbon market experts from across public and private sectors.
With roughly USD 6 trillion in climate finance needed annually by 2030 to achieve the goals of the Paris Agreement, Beyond members highlighted the need for transformative collaborations among corporate buyers, civil society experts, and technical experts to accelerate the scale, impact and credibility of investments in climate solutions using market-based approaches.
Tracy Johns, Carbon Removal Program Lead, Meta, commented on the group’s ambition: “We know that in order to meet the climate challenge, we all need to set our sights beyond what we already know how to do, and what we think is possible. This coalition provides the collaborative space for companies and our partners to bring our collective creativity and resolve to meet our ambitious climate targets.”
Convened by We Mean Business Coalition since early 2024, the alliance brings together first mover companies like Netflix, Meta, and Salesforce alongside NGOs such as EDF and WWF to advance the enabling conditions and opportunities for increased corporate engagement with market-based mechanisms.
Luke Pritchard, Director, Beyond said of the new strategy and re-naming: “The evolution of this group since its inception in 2020 reflects a shared understanding among its members that unlocking a next generation of high-impact initiatives to drive market-based investments necessitates new forms of collaboration and leadership among corporates. We Mean Business Coalition is well positioned to catalyze this exponential growth and is thrilled to host the secretariat for Beyond as the alliance enters this new chapter.”
The event also marked the introduction of a new brand identity for the alliance that reflects its commitment to move above and beyond the status quo to deliver greater climate action. At the heart of this approach is catalyzing a community of practice that lets companies share lessons learned, best practices, and collectively tackle challenges to go further, faster.
Education and empowerment are core tenants of Beyond’s efforts to encourage corporate buyers of all levels to invest in market-based mechanisms with integrity and credibility. In addition to amplifying the voice of buyers, the group also advocates for robust voluntary and regulatory frameworks that support and enable companies to deploy investments.
Reflecting on the importance of the group’s work, Elizabeth Sturcken, Managing Director of Net Zero, Environmental Defense Fund said, “Closing the climate finance gap, protecting nature and supporting indigenous and local populations can’t happen at the pace and scale we need without increased corporate investment. Beyond is working to achieve this by fostering collaborations and innovations needed to drive impactful investments now in critical climate solutions.”
As part of its effort to broaden corporate engagement in the alliance, Beyond leadership will convene an upcoming “Buyer’s Bootcamp” on the sidelines of Verge24 in late October targeting experienced market buyers.
