The Nobel Sustainability Trust (NST) announced to inaugurate the World Sustainability Standards Organization (WSSO) in October 2023, in partnership with numerous governments and international organizations, said NST Chairman Peter Nobel.
It is learned the announcement was made simultaneously in New York and Zurich, where the WSSO will be headquartered. WSSO's mission, according to Nobel, is to unify standards in sustainable development fields such as energy, carbon credit, green finance, the environmental industry, energy conservation, carbon neutrality-related technologies, and ESG.
Besides, WSSO will support the roll-out of the carbon market and other projects outlined in the Paris Agreement. It will seek to strengthen international coordination on carbon payment and settlement by integrating the central bank digital currencies (CBDCs) of different countries. WSSO aims to promote global convergence of standards, help form a cross-regional common carbon market, and coordinate the use of CBDCs for carbon settlement and other mechanisms for global collaboration.
WSSO will establish research centers and various professional committees in Zurich, Beijing, and New York. In the future, it will open standard certification centers in multiple regions and countries around the world, supporting the synchronization of national and regional standards, and reducing geographical, economic, and technical barriers to international cooperation in sustainable development.
Within this framework, each country should take constructive and transparent actions and cooperate in solidarity. The existing institutional arrangements are beneficial to developing countries and provide channels for developed countries to help developing countries achieve carbon neutrality. WSSO's priority is to establish a global carbon market mechanism.
Moreover, WSSO will appoint three representatives, respectively from China, the United States, and the European Union, to manage the daily work of the Executive Committee, under the Secretariat system of responsibility. The first head of the Secretariat will be Bruno Wu, one of the first recipients of the Nobel Sustainability Award Medal.
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