Introduction to the Gold Standard. Gold Standard in a Nutshell Who we are: a non-profit organization...
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![Page 1: Introduction to the Gold Standard. Gold Standard in a Nutshell Who we are: a non-profit organization under Swiss law that operates a certification scheme.](https://reader033.fdocuments.net/reader033/viewer/2022060206/5a4d1b867f8b9ab0599bca0f/html5/thumbnails/1.jpg)
Introduction to the Gold Standard
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Gold Standard in a NutshellWho we are:• a non-profit organization under Swiss law that operates a
certification scheme for premium quality carbon credits• Endorsed by over 65 NGOsHow we got started:• The Gold Standard quality benchmark emerged and has
evolved in parallel with the emergence and maturation of carbon offset markets. It was developed by a group of NGOs led by WWF, SSN and HELIO International and launched in 2003.
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Gold Standard in a Nutshell – cont’dWhat we stand for:• promoting sustainable development through carbon offset
markets that are characterized by transparency and equality of access for all market participants
What we do:• GS registers projects that reduce GHG emissions in ways
that contribute to sustainable development and certifies their carbon credits for sale on both compliance and voluntary offset markets.
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Gold Standard in a Nutshell – cont’dHow we are governed:• Foundation Board, the Technical Advisory Committee and the
SecretariatHow we are funded:• Core funding from both public and private sector contributors
and additional revenues from sponsorship agreements and fees
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Overview: Our Global Presence
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Guiding Principles• Bottom-up participatory approach to local SD• Conservativeness• Transparency• Pragmatism
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The Gold Standard Market
Voluntary Market
- Issue VERs- Benchmark standard- Premium VER price- Promotes innovation
Compliance Market
- Label CERs- Promotes participatory
approaches through stakeholder involvement and acceptance
- SD
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GS v2.1 Rule Books• “Requirements”
– Presents the fundamental principles and ‘hard’ rules• “Toolkit” and its Annexes
– Describes the project cycle, provides examples and detailed instructions on the use of the GS
– Annexes include: Templates, GS Terms & Conditions, Cover Letter, GS Registry Operation, Fee Schedule, etc.
Available at: http://www.cdmgoldstandard.org/Gold-Standard-Version-2-1.355.0.html
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GS v2.1 Project Documentation
• UNFCCC PDD templates– All GS projects must use latest UNFCCC Project Design
Document templates• GS Passport
– Provides all required GS-specific information not already covered in the PDD (fixed template)
– Sustainability Assessments
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GS Registry• Available at: goldstandard.apx.com• Every project developer and auditor must open a registry
account• One account per entity• PD must select DOE for validation (or verification) in order for
DOE to have access to project account• If DOE cannot access project account, check if PD has selected
the DOE
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GS Registry
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Introduction to Methodologies
Carbon accounting & monitoring emissions reductions
Voluntary Market
- 7 VER methodologies- RE and EE- Find the most current
list under “Current Rules” tab on our website
CDM
- Renewable Energy- End-use energy
efficiency
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New VER Methodologies
• Proposals for new GS-VER methodologies may be submitted• Fee: USD $500 + cost of two external experts• Procedure described in Toolkit Chapter 5• DOEs are not involved in methodology & tool approval
process
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Open Registry Account Local Stakeholder Consult.- non technical summary- draft PDD and Passport
Stakeholder feedback round- public posting
GS Internal Validation - Validation Statement
GS External Validation - Validation Report(s)
GS Registration - 8 weeks review period
GS Ext./Int. Verification - Monitoring Report(s)- Verification Report(s)
GS Certification/Issuance - 3 weeks review period- issuance of credits/labels- serial numbers
micro-scale projects
Pre-evaluation- Eligibility- Additionality- Sustainability
GS Project Cycle
New methodology- draft submission- approval process
GS TAC
GS TAC
RE
GS NGOs
GS NGOs
GS NGOs
GS NGOs
DOEs
GS TAC
DOEs
GS TAC
DOEs
listed
Validated
Registered
Issued
Project Final Design PDD + Passport:- Additionality- Baseline & project emissions- ‘Do no harm’, SD Matrix - Carbon & SD Monitoring Plans - EIA, etc.- MoU (for fast tracked projects)
Retroactive Registration - pre-feasibility assessment- fast track
GS TAC RE
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Introduction to the GS Project Cycle① Project Pre-Evaluation② Open a Registry Account③ Conduct Local Stakeholder Consultation (LSC)④ Finalize project documentation (PDD, Passport)⑤ Validation⑥ Conduct stakeholder feedback round⑦ Registration⑧ Verification⑨ Issuance
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Step 1: Evaluate your projectEligibility
• Renewable energy or energy efficiency?• Is the project already operating?• Size?• Project gases eligible for credits: CO2, CH4 and
N2O• Project location – does the country have a cap?
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Step 1: Evaluate your projectAdditionality
• UNFCCC-approved tools• Investment analysis• Barrier analysis• Common practice analysis
Sustainability• What impact will the project have on the local host community?
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Step 2: Open a Registry Account• Go to goldstandard.apx.com• Create username and
password• Sign the Terms & Conditions &
Terms of Use• Upload your documents
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Step 3: Conduct the LSC Discuss the impacts of the project with the host community
Overview• GS requires 2 rounds of consultation• At least one live meeting is required
Before the Meeting• Invite your Regional Manager, GS NGO supporters, local NGOs, local residents and officials At the Meeting• Sufficient diversity should be ensured (skills, gender, ethnic, etc.)• Non-technical summary and blind exercise
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Step 3: Conduct the LSCAfter the LSC:
Local Stakeholder Consultation Report must be uploaded into the GS Registry (“time of first submission to GS”).
Upon approval by GS, project will be listed (can call itself “Gold Standard Project Applicant”).
Project becomes public in the registry (only basic project information at this stage).
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Step 4: Finalize your project documents• PDD• GS Passport
-- Deviations from CDM methodology– Sustainability Assessments
• LSC Report• SD Matrix• SD Monitoring Plan• Do Not Harm Assessment
And get ready to submit them for validation…
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Step 5: Conduct the SFR• 2nd round of stakeholder consultation• Follow-up from the LSC and address how account was taken
of stakeholders’ comments• Project documentation must be available for at least 2
months on GS Registry before completion of validation (and via other means if not all stakeholders have access to internet)
• This can be completed in conjunction with validation
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Step 6: Validation• Purpose: To review the project and project documentation at
the outset to ensure eligibility, additionality, sustainability and correct application of the methodology and our Rules.
• The first third-party audit• You must hire a UNFCCC-accredited DOE who must visit the
site.• Micro-scale projects can apply for internal validation
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Step 7: Registration• After successful completion of validation, you must send the Gold
Standard a formal request for registration. This takes the form of a Cover Letter (fixed template), which is a legal document.
• Upload all of your documents to the Registry• GS will review for completeness and initiate an 8-week review period
during which the GS Secretariat, GS Technical Advisory Committee, and GS supporter NGOs will review the documents and ask questions or make comments
• GS will consolidate all feedback and send to you• The review period ends when all comments have been addressed and
all questions have been answered
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Step 8: Verification• Purpose: To ensure that the project is operating in
accordance with the PDD and that sustainability has been properly accounted for
• The second third-party audit• A pre-requisite to issuance• You must hire a different UNFCCC-accredited DOE• Required at least once in the first two years; thereafter, once
every three years
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Step 9: Certification/Issuance• Upon successful completion of verification, all documents are
uploaded and GS will check for completeness• A 3-week review period follows, during which the GS
Secretariat, GS Technical Advisory Committee, and GS supporter NGOs may have comments or questions
• GS sends you the feedback at end of 3-week period• Review period will end whenever all comments and questions
have been addressed and answered
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The Retroactive Project Cycle
Pre-Feasibility Assessment is required for:• Retroactive projects (all projects that have already
started construction or implementation at time of first submission to GS)
• Large hydro (> 20 MW), Palm oil-related projects• Rejected CDM projects• See Toolkit Chapter 2.5 and Annex C for projects
requiring Prefeasibility Assessments
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Questions?