Gold Standard to Spearhead New Initiative

Posted on May 30, 2011 by

In the midst of uncertainty as to as to the compatibility of CDM’s CERs with the EU ETS beyond 2012, the Gold Standard, the Geneva based foundation, which certifies emission reduction projects under the CDM and Voluntary markets, will spearhead a new initiative that will give a boost to emission reduction projects in the world’s poorest nations and produce credits for European companies to use to meet their caps.

This initiative will develop top-down methodologies tailored to small projects in least developed countries.

“Through the provision of new methodologies, innova­tive tools and institutional capacity building, The Gold Standard will help the German government to improve access to carbon finance, increase the involvement of the private sector and help shape climate policy frameworks for the future,” said Adrian Rimmer, chief executive of the Gold Standard.

The foundation plans to build institutional capacity or Designated National Authorities for government agencies in host countries with respect to sustainable development criteria and entrepreneurship in the clean energy sector. For this, the foundation said that it had secured funding from Germany’s environment ministry for three years.

“With the focus of the CDM shifting in a post-2012 regime, the need for innovative approaches and institu­tional preparation to generate emission reductions from these regions has become much more pressing,” the Gold Standard added.

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