Certification Guidelines Unveiled for Synthetic Carbon Reduction Methods by Gold Standard
Gold Standard Unveils New Framework for High-Integrity Carbon Dioxide Removal Projects
Gold Standard, a leading organisation in setting best practices for carbon projects, has announced the launch of its latest framework: Engineered Removals Activity Requirements. This new standard aims to certify high-integrity engineered carbon dioxide removal projects, playing a crucial role in achieving the 1.5°C target.
The framework outlines core requirements for certification, including measures to guard against carbon removal reversal, ensuring the durability of carbon storage (Reversal Risk Mitigation). It also mandates contributions to buffers for risk management (Buffer Contributions) and robust safeguards to ensure sustainable development outcomes. Projects must adhere to safeguarding principles that prevent risks to ecosystems or communities and enable inclusive stakeholder engagement.
Furthermore, projects must support at least three of the United Nations Sustainable Development Goals (SDGs). Margaret Kim, Gold Standard's CEO, emphasised the importance of engineered removals, stating, "Engineered removals are essential to achieving a 1.5°C pathway, and we invite developers to use our requirements and work with us to build new methodologies and deliver durable projects that benefit local communities."
The new framework aligns with key policy and market frameworks such as the EU Carbon Removal Certification Framework, CORSIA (Carbon Offsetting and Reduction Scheme for International Aviation), and Article 6.4 of the Paris Agreement. This alignment facilitates harmonization across international carbon markets and regulatory mechanisms, promoting integrative accountability and integrity in carbon removal certification.
Gold Standard has already made strides in this field, releasing two approved engineered CDR methodologies in 2022: Carbon Mineralization using Reactive Mineral Waste developed by Neustark and Biomass Fermentation with Carbon Capture and Geologic Storage developed by Summit Carbon.
The organisation was established in 2003 by WWF and other NGOs to set best practices for projects under the UN's clean development mechanism. Gold Standard aims to develop additional engineered removal methodologies with partners and scale project development while maintaining scientific rigor, high integrity, and sustainable development impact.
In addition, Gold Standard is developing a 'Just and Sustainable Transitions Framework' to further strengthen the sustainable development impact of engineered CDR projects, ensuring they deliver economic, social, and environmental benefits to host communities.
This approach reflects Gold Standard’s emphasis on robust measurement, reporting, and verification (MRV) practices as well as responsible credit issuance to uphold environmental and social integrity in the rapidly growing Carbon Dioxide Removal sector.
[1] Gold Standard. (n.d.). Engineered Removals Activity Requirements. Retrieved from https://www.goldstandard.org/
[2] Gold Standard. (n.d.). About Us. Retrieved from https://www.goldstandard.org/about/
- The new Engineered Removals Activity Requirements by Gold Standard, a leading organisation in carbon projects, aligns with science and environmental-science to certify high-integrity engineered carbon dioxide removal projects, aiding in climate-change mitigation.
- The framework ensures sustainability standards by mandating safeguards against reversal of carbon removal, contributing to buffers for risk management, and promoting sustainable development outcomes.
- Businesses in the carbon removal sector can invest in adhering to Gold Standard's requirements, as they offer a viable avenue for personal-finance growth while contributing to the fight against climate-change.
- Data-and-cloud-computing and technology play a crucial role in verifying the robustness of these carbon removal projects, thanks to Gold Standard's emphasis on measurement, reporting, and verification (MRV) practices.
- Gold Standard'sJust and Sustainable Transitions Framework aims to further enhance the economic, social, and environmental benefits of engineered carbon dioxide removal projects for host communities.
- As a pioneer in the field, Gold Standard has already released approved engineered CDR methodologies and plans to continue working with partners to develop more methodologies, scale project development, and maintain scientific rigor and integrity.
