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Gold Standard Benefits and Requirements
The Gold Standard is the first best practice benchmark for CDM (Clean Development Mechanism), JI (Joint Implementation) and other voluntary greenhouse gas emission projects. With its own independent and rigorous assessment framework, Gold Standard ensures the delivery of credible projects with environmental integrity and true contribution to sustainalbe development.
Based on its goal to define the benchmark for premium carbon credits, project types such as Renewable Energy and End-Use Energy Efficiency are more readily eligible for Gold Standard certification, while project types with high chance of adverse impacts like large hydro projects, which can displace large numbers of people are exluded. To avoid elevated transaction costs or bureaucratic procedure, it is made to be directly compatible with the CDM and JI project cycles; this simple procedure can be easily handled by standard CDM project operators only with more emphasis on sustainable development and the true contribution to long term benefits to the climate.
After third party validation and verification of the offset project, the Gold Standard Carbon Credits are rewarded, which are in high demand due to rising awareness about the need for rigour and transparency in the carbon market. In addition, the benefits of the Gold Standard are not only confined to the premium prices and low added costs - enhanced reputation, market visibility and stakeholder acceptance "side benefits" that sometimes might be considered of greater value than the cash benefits.
For detailed information, please go to Gold Standard.