Start with Climate Dividends

Measure and value the removed or avoided emissions of your solution (if you’re a company) and of your portfolio companies (if you’re an investor).

How can I start?

As a company

If you sell a product or a service that removes and/or avoids CO2e emissions, you should be able to measure and value your positive contribution to global decarbonisation through Climate Dividends.

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To get started, you’ll also need to validate some Eligibility criteria.

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Click on the link below and fill in a quick auto assessment of your eligibility and readiness for Climate Dividends.

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We'll quickly get back to you!

Companies Form

As an investor

As an investor, if you manage an impact-driven fund (e.g. Article 8, Article 9 funds) or if you have impact companies in your portfolios, you can onboard them to measure and value their positive contribution to global decarbonisation through Climate Dividends. 

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Climate Dividends can also be useful to complete your due diligence, to trigger ESG carried interest mechanisms or to set targets at fund level. 

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Click on the link below and fill in a quick assessment of your fund and your portfolio companies. We'll quickly get back to you!

Investors Form

How does it work?

To issue and distribute Climate Dividends, companies must follow a 5-step process. The Climate Dividends team is here during the whole process to guide and support you to make it as easy and seamless as possible.

Important note: the timing/durations below are purely indicative and can vary!

Eligibility
1 month
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The company and the solution must validate eligibility criteria, mostly to ensure transparency & avoid greenwashing.

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‍E.g: the company must publish its carbon footprint (Scopes 1-3)

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Evaluation
2 months
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Assessment of tCO2e avoided/removed by the Solution, in compliance with the rules of the public & standardized Protocol. 

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E.g: claim = 100 tons of removed or avoided CO2e emissions

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Verification
1-1.5 months
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An independent third-party (accredited by Climate Dividends) validates the methodology and verifies the calculations.

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Issuance
1 week
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Upon positive audit, the claim is registered in the Association’s registry (it becomes public) and the tCO2e are “converted” into Climate Dividends.

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E.g: the company issues 100 Climate Dividends

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Distribution
1 week
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The Climate Dividends are distributed to the shareholders according to their % of capital ownership (after applying a debt/equity attribution factor) through the Climate Dividends platform.

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E.g: investor with a 40% equity stakes the same proportion of the distributed Climate Dividends.

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What are the fees?

To issue and distribute Climate Dividends, you’ll have to pay:

Climate Dividends’ application and processing fees

We charge fees to cover part of our operating costs as a non-profit. 

One single, comprehensive price covers the entire process: from the initial eligibility check to technical advisory and project management, as well as tailored support for communicating about the initiative and Climate Dividends. This includes engaging both internal stakeholders (employees, management team) and external audiences (customers, partners, and especially shareholders).

Level Price depending on company’s annual turnover (€) 1st year Additional claim 2nd and following year (during claim’s validity period)
1 < 499k 700€ 420€ 350€
2 500k to 2.4m 1.050€ 630€ 525€
3 2.5m to 4.99m 1.450€ 870€ 725€
4 5m to 49.99m 1.900€ 1.140€ 950€
5 50m to 99.99m 2.450€ 1.470€ 1.225€
6 100 to 999m 3.150€ 1.890€ 1.575€
7 > 1md 3.900€ 2.340€ 1.950€
Validation and verification costs

They cover the intervention of the independent third-party, recognised by the association, to validate the methodology and its compliance to the Climate Dividends protocol and the verification of the activity data.

The price varies depending on the VV (and on the complexity of the claim).

They can be paid by the company or the investor, directly to the VV.

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Start with us
Powered by leading organisations
Be Energy
IDM France
RADIANCE Energy
Decathlon
Ademe
Vestiaire collective
Mirova
Acorus
Eurazeo
Serena
Geev
Léon Grosse

More questions before getting started?

Here are some of the most frequently asked questions. If you don’t find what you’re looking for, feel free to check our documentation or to contact us.

How does it fit with other reporting frameworks (CSRD, ESG labels, SBTi, ACT, PCAF, GFANZ…)?

Climate Dividends serve as an extra-financial indicator, distinct from labels, scores, or grades. They are designed to assess the performance of a Solution to contribute to decarbonisation (via removed or avoided emissions). They are to be used primarily through ratios like “Climate Dividends received per € invested” or “carbon footprint to Climate Dividends” (vs absolute values).

Reporting Frameworks: Climate Dividends can already be integrated into reporting through frameworks such as the Net Zero Initiative by Carbone4 and ACT for Finance. They are also referenced in the GFANZ framework.

Regulation: While Climate Dividends are not yet formally recognized under European regulations like CSRD or SFDR, which focus on induced emissions, the goal is to have them included in these frameworks in the near future. In the meantime, Climate Dividends can already be disclosed as additional information within CSRD reporting.

What’s the difference between Climate Dividends and carbon credits?

Climate Dividends and carbon credits are fundamentally different, even if they are complementary in measuring the positive contribution of activities to global decarbonisation.

While carbon credits are tradable assets that can be sold to any buyer (often functioning as an offsetting tool for the buyer), Climate Dividends are non-tradable, extra-financial information distributed exclusively to shareholders, akin to financial dividends that validate a company’s creation of economic value—for the climate.

Furthermore, the scope of projects eligible for Climate Dividends is significantly broader. Unlike carbon credits, which require financial additionality (proof that the project depends on carbon credit revenue to be viable), Climate Dividends recognize all projects contributing to decarbonisation, regardless of the company’s economic situation, as long as it removes or avoids emissions and validates the eligibility criteria.

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Check this dedicated page for more details. 

What’s the difference between avoided emissions and emissions reductions?

Avoided emissions refer to the CO2e emissions that are prevented from being released into the atmosphere by implementing a specific solution, compared to a baseline scenario where the solution does not exist. For example, installing a more energy-efficient building system can avoid emissions by reducing energy consumption compared to conventional systems.

‍Emissions reductions, on the other hand, involve directly cutting down a company’s existing CO2e emissions, such as switching to renewable energy sources or optimizing production processes to emit less carbon.

The key distinction is that emissions reductions focus on lowering an organization’s current footprint, while avoided emissions evaluate the potential impact of a solution in preventing emissions that would have otherwise occurred in a given scenario. Both are complementary approaches to achieving global decarbonization goals.

Can Climate Dividends be monetized or sold?

No, Climate Dividends cannot be monetized or sold. Unlike carbon credits, which are tradable assets, Climate Dividends are non-financial, non-tradable metrics that reflect the positive climate contribution of a company.

They are distributed exclusively to shareholders as extra-financial information, similar to how financial dividends represent economic value creation. Their purpose is to demonstrate and quantify a company’s contribution to global decarbonization, not to serve as a tradable commodity.

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What's the difference with financial dividends?

Climate Dividends are inspired by financial dividends but with a climate-related angle:

→ They are distributed to the company's shareholders.

→ They are distributed every year, in reporting year N+1 for results achieved in reporting year N.

→ They materialise the link between the shareholders and the value created by the company. In the case of financial dividends, it is the creation of financial value (the profit) that is partly distributed to shareholders; in the case of Climate Dividends, it is the creation of climate value (the company’s contribution to global net zero emissions, measured in avoided or removed emissions) of which the evidence is distributed to shareholders.

→ Even if projections of Climate Dividends can be made, Climate Dividends are only accounted for when they are issued and actually distributed to shareholders.

→ Unlike financial dividends, Climate Dividends are not money. They are not a financial flow, nor a financial asset, nor can they be monetised. They are just additional extra-financial information.

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