Private Certification Systems are third-parties that impose additional standards on applicant companies seeking to get recognition for their efforts.
Examples include the Marine Stewardship Council which governs fisheries and fish stock; LEED building standards; and B Labs who certify companies as socially responsible. Certified firms can use the logos of the certifiers to show customers that their products meet additional social standards that have been verified by another party. Some certification systems have been criticized as too lenient with their standards. Since certifiers make their money from leasing their logos, they may be incentivized to certify as many companies as possible, even if the company’s efforts are not very meaningful.
That said, the scale at which certification systems have been adopted in industries previously prickly towards regulation is promising. If certification systems can effectively influence companies to adopt science-backed climate pledges, they may be able to drive substantial progress in adaptation and mitigation.
