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VOLUNTARY CARBON MARKET
TRANSITION FRAMEWORK

In July-August 2020, Gold Standard held a public consultation on policy positions to inform evolution of rules to align with the post-2020 regulatory framework and focus our efforts to ensure widest applicability and scale of high integrity carbon markets.

We are pleased to have recently announced a Voluntary Carbon Market Transition Framework, with support from the German Ministry of the Environment, Nature Conservation and Nuclear Safety (BMU).

Working with government, civil society, and market stakeholders we are developing a roadmap to transition voluntary carbon standards to be (a) aligned with Article 6 of the Paris Agreement to remain ambitious and credible, (b) accessible and equitable for host countries and engaged parties, and (c) operational and scalable to contribute significantly to Paris climate goals. Your input will be critical and we look forward to engaging with you throughout the process.

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KEY TAKEAWAYS FOR PROJECT DEVELOPERS

Optionality on corresponding adjustments: Corresponding adjustments are NOT required for voluntary projects. Rather, project developers have the option to seek corresponding adjustments if they want to ensure their credits are eligible in the future for “offsetting” or “compensation” claims by end buyers and for accessing certain markets that specifically do require them, for example CORSIA. Further, corresponding adjustments are envisioned to be introduced in a stepwise fashion, starting with 2021 vintages – earlier in higher income countries, last in LDCs/LLDCs/SIDS.
Capacity building support in securing Letters of Authorisation (LoA) from host countries and operationalising corresponding adjustments if you seek them.
SDG Tools to more efficiently select indicators and monitor and verify your project's contributions to the Sustainable Development Goals (SDGs). These tools are being piloted.
New opportunities to sell your credits in markets:
- The scaling of existing global voluntary carbon markets
- Gold Standard projects in Chile and South Africa are already recognised in the countries' respective domestic schemes
  - See this resource guide for the South Africa carbon tax
- Most Gold Standard projects with crediting periods starting 2016 or after already eligible for CORSIA
- Supporting transition of Gold Standard CDM projects and their potential future in Article 6.4 of the Paris Agreement and identifying opportunities for Gold Standard credits in the context of Article 6.2
More project activity types to pursue, including soil carbon, blue carbon, and new finance-based approaches to larger scale nature based solutions.

RULE UPDATES RELATED TO THE TRANSITION FRAMEWORK

Gold Standard has updated its rules to be aligned with the most recent science and to reflect new eligibility criteria for projects seeking to transition to Gold Standard for the Global Goals (GS4GG).

RULE UPDATES

APPLICABILITY OF GLOBAL WARMING POTENTIAL FOR GOLD STANDARD FOR THE GLOBAL GOALS PROJECTS
The Global Warming Potential values - for calculating the carbon dioxide equivalence of anthropogenic emissions and removals - have been updated as per the IPCC Fifth Assessment report (AR5). These updates have been implemented by the Gold Standard Technical Advisory Committees (TACs) and apply to all vintages of Gold Standard credits on or after 01 January 2020.

REQUIREMENTS FOR PROJECTS TRANSITIONING FROM OTHER SCHEMES TO GOLD STANDARD FOR THE GLOBAL GOALS
Due to ongoing uncertainty for Clean Development Mechanism (CDM) projects unable to renew their crediting periods starting on or after 01 January 2021, an increasing number CDM projects are requesting transition to Gold Standard VERs. With our commitment to environmental integrity and channeling carbon finance where it has its greatest impact, we must limit CDM transition only to those projects that face risk of discontinuation post-2020. New eligibility criteria reflects this principle.

NB: All Gold Standard projects in the future (CDM transition projects included) will have to undergo a “Kyoto to Paris” transition process that Gold Standard is developing under the VCM Transition Framework programme, which we expect to publish by Q2 of 2021. Review the indicative timeline>>

EVENTS SUPPORTING THE TRANSITION FRAMEWORK

WEBINAR

VCM Transition Framework: Q&A for Project Developers

We are hosting a webinar to answer any questions you may have on this transition framework and what it might mean for your project(s).

– led by Owen Hewlett

Wednesday 04 November 2020
15:00 – 16:30 CET

REGISTER >>

TECHNICAL UPDATE: APPLICABILITY EXPANSION + GUIDELINES FOR VVBs

Gold Standard has extended the usage rate monitoring requirements and guidelines to include household biogas digesters. The updates also include a detailed checklist and guidance for VVBs for assurance.

RULE UPDATES

USAGE RATE REQUIREMENTS- TECHNOLOGIES AND PRACTICES TO DISPLACE DECENTRALIZED THERMAL ENERGY CONSUMPTION
This methodology update expands the scope of applicability of the current usage requirements and guidelines to include Household Biogas Digesters. This update ensures consistency, and sound monitoring and reporting.

GUIDELINE AND REQUIREMENTS

REQUIREMENTS AND GUIDELINES: USAGE RATE MONITORING
These requirements and guidelines have been updated to further improve monitoring of usage rates of improved cooking technologies. This will not only help ensure sound monitoring but will help project developers increase adoption and sustained use of these technologies to achieve the intended benefits.

NEW TEMPLATES TO SUPPORT PROJECT/PROGAMME SUBMISSIONS

Gold Standard and SustainCERT have updated key templates to better support project developers submitting documentation for certification.

TEMPLATES

NEW TEMPLATE: SOIL ORGANIC CARBON ACTIVITY MODULE
In March 2020, Gold Standard launched the Soil Organic Carbon Framework Methodology to quantify changes in GHGs and soil organic carbon through the adoption of improved agricultural practices. The flexible structure allows project developers to propose new Activity Modules for Gold Standard approval under an accelerated timeline. To further aid this effort, a new template has been created to help developers prepare and draft eligible Activity Module Methodologies for Gold Standard review and approval.

SUSTAINCERT RELEASES NEW TEMPLATES FOR GOLD STANDARD FOR THE GLOBAL GOALS
As part of an effort to continue improving certification services, SustainCERT has released new templates that better align understanding of GS4GG rules and requirements and how they should be demonstrated during validation/ verification. These updated templates feature a new guide with detailed instructions on how to complete the templates, important rules are highlighted for ease of reference, and users can now scroll to key points quickly and easily.

LIST OF UPDATED TEMPLATES

For feedback, please contact templates@sustain-cert.com

TRAINING WEBINAR

For more information on these templates and how to use them, you can listen back to SustainCERTs training webinar.

LISTEN BACK: TEMPLATE TRAINING WEBINAR >>

SDG IMPACT TOOLS: ENSURING CREDIBILITY + COMPARABILITY IN SDG CLAIMS

We’re pleased to announce that piloting of the SDG tools is in its final stages before general release in the coming weeks. The tool, which is designed and structured following SDG tool guidance developed in phase 1 of this programme, will ensure credible and accurate SDG impact claims, help standardise impact indicators and enable multiple SDG impacts while minimising the extra burden of Monitoring, Reporting and Verification (MRV).

We'd like to thank all those who have supported the development of the guidance and or the activity-specific tools, including ClimateSeed, myclimate, SustainCERT, Swedish Energy Agency, UN-SDSN, Carbon Sink, Clean Cooking Alliance, Co2Logic, CO2OL, EcoMatcher, Land Life Company, Puro verde and SouthPole.

COMMENTARY: ON THE OXFORD PRINCIPLES FOR NET ZERO ALIGNED CARBON OFFSETTING

The University of Oxford has recently published a new set of principles for Net Zero Aligned Carbon Offsetting. Read Chief Technical Officer Owen Hewlett's response to these principles and views on ensuring environmental integrity and sustainable development when using markets to accelerate progress towards Net Zero.

READ COMMENTARY