The gold standard for pilot requirements for government emissions reduction policy

The Gold Standard, a leading standard-setter for climate and sustainability projects, has introduced innovative requirements and policy procedures to certify the impact of government emissions reduction policies.

This new initiative, currently in a pilot phase, offers a carbon financing opportunity to support large-scale climate action, according to a Tuesday media release.

Governments can now certify and issue credits for emissions reductions achieved through policies or regulations.

Policy requirements and procedures provide a financial mechanism to encourage the creation of new climate policies, leading directly to the reduction or removal of greenhouse gases (GHG).

They are consistent with other Gold Standard requirements of the Global Goals, ensuring comprehensive protection, sustainable development and stakeholder consultation.

The Gold Standard will certify the impact of new policies or regulations on climate and sustainability, focusing on the energy and land use sectors.

These certified receipts may generate credits to be approved as International Transferable Mitigation Results (ITMO) in accordance with Art. 6 of the Paris Agreement.

This allows governments to finance new policies in other countries that help reduce greenhouse gas emissions, while counting those reductions towards their own Paris Agreement targets.

Right: Gold Standard provides a digital SDG Impact tool for its projects

The requirements and procedures have been developed as part of the ‘Developing a Paris Agreement Carbon Standard for Policy Approaches’ initiative, supported by the Global Green Growth Institute (GGGI).

Margaret Kim, CEO of Gold Standard, said: “We are excited to begin the pilot phase of our policy requirements and procedures, offering a robust framework for policy-driven climate action.”

She stressed that this initiative demonstrates their commitment to implementing bold and innovative measures aimed at achieving impact at scale and helping governments meet their climate commitments.

Gold Standard is seeking governments and stakeholders to participate in this pilot phase, initially limited to a few jurisdictions.

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