Gold Standard’s Carbon Project Cycle

🌍 Understanding Gold Standard’s Carbon Project Cycle 🌍

Gold Standard for the Global Goals Project Certification offers a five-year renewable certification cycle, providing a robust framework for ensuring high-quality carbon projects. Here’s a quick overview:

1. Plan Project and hold Stakeholder Consultation: Confirm the basic project design, assess against Gold Standard safeguards, estimate climate and sustainable development impacts, hold a Gold Standard Stakeholder Consultation Meeting then open a registry account and pay the annual registry fee of ($1000).

2. Project Listing: Begin by undertaking a Preliminary Review, sharing Key Project Information, and submitting a draft Project Design Document (PDD) and Stakeholder Consultation Report.

3. Certified Design Status: Achieve this by completing an independent assessment conducted by an accredited validation and verification body (VVB) within two years of Listing, followed by a Design Review. VVB reviews documentation and requests clarifications and resolutions of corrective actions where required. Approval results in Gold Standard Design Certified status.

4. Project Monitoring: The Project Developer monitors the project according to the approved monitoring plan.

5. Renewable Certification Cycle: Once a project attains Certified Design Status, it enters a five-year cycle requiring Verification and Performance Review to maintain certification. Projects can issue Gold Standard Certified Impact Statements and Products during this time.

6. Design Certification Renewal: At the five-year mark, projects must renew their certification by updating key information and baselines, ensuring ongoing compliance with Gold Standard requirements.

7. Performance Certifications: These can occur multiple times within each cycle, with a minimum of once every two years.

Depending on specific requirements, projects may renew once, extending certification up to a maximum of 10 years. This cycle ensures that projects not only achieve high environmental standards but also continue to contribute meaningfully to global climate goals.