The Gold Standard Verified Emission Reduction
The Gold Standard is an independently managed label, provided to honor superior carbon offset project standards, and the emission reduction certificates generated from them. The integrity of these projects in regard to environmental balance and sustainable development are of foremost importance. The Gold Standard may be applied to Clean Development Mechanism (CDM), Joint Implementation (JI) and VER Projects, which are all arrangements created as part of the Kyoto Protocol. The Gold Standard criteria were developed to supplement existing procedure. The concept came into being not only to further contribute to the effective reduction of greenhouse gases, but to offer increased transparency and bring sustainable development in developing countries to the forefront. Today, the Gold Standard is an independent organization with its headquarters in Basel, Switzerland.
The Gold Standard’s method is built into the regular CDM and adds three special screens for quality control:
- Does the project use renewable energy or energy efficiency technologies?
- Does the project go above and beyond a “business as usual” scenario?
- Does the project promote sustainable development?