Gold Standard for Global Goals transition rules update

Gold Standard for Global Goals transition rules update

From 1 March 2018 onwards, all registered Gold Standard activities are required to transition to the new Gold Standard for Global Goals (“GS4GG”) upon initiating a new verification or certification renewal. The new GS4GG was launched in July last year, impacting the carbon asset development efforts of many of our clients. Climate Focus supported the PD Forum’s submission to the Gold Standard requesting the reassessment of several elements of the new standard.

We are happy that our comments have been taken into consideration by the Gold Standard. Its recently published update adapts two key transition requirements:

  1. Certification renewal and maximum certification periods for existing activities
  2. The use of existing sustainable development monitoring indicators

With the first adaptation, existing projects and programmes are now permitted to maintain their maximum certification periods as originally envisaged at registration. This means that PoAs and VPAs submitted during the first crediting period of the PoA can continue to use of their 7-year crediting cycle up to the 21-year maximum, as opposed to the 5-year cycle that has been introduced by new GS4GG. With the second adaptation, existing activities that transition to GS4GG may now retain their existing sustainable development monitoring plan, including the original indicators chosen. Both of these updates are welcomed by project developers.

For the full update, please refer to the following link.