Water Credit
First Climate and the Swiss Agency for Development and Cooperation (SDC) have set up a Public Private Partnership called “Water Benefit Partners” (the “PPP”) to develop the Water Benefit Certificate (“WBC”) mechanism, which will allow water project financing to be linked to measurable and verifiable project benefits. Based on this mechanism, additional funding can be raised to support water conservation projects that address water issues where they are most pressing. The PPP aims to develop the standards, methodologies and tools required to establish the WBC mechanism and a corresponding market.
Under the PPP, IDEI’s drip irrigation project in India has been identified as the WBC pilot project with a view to generating WBCs based on the volume of water saved.
IDEI is hopeful that the project will be nothing short of a revolution on concerns around water and that it will help in raising the awareness bar globally.