Certification Criteria Set Out by Gold Standard for Engineered Carbon Sequestration Projects
Gold Standard Introduces New Framework for Carbon Dioxide Removal Projects
In an effort to accelerate the development and deployment of high-integrity engineered carbon dioxide removal (CDR) projects, Gold Standard, a pioneer in setting best practices for projects under the UN's clean development mechanism, has unveiled its new 'Just and Sustainable Transitions Framework'.
This framework, which aligns with key policy and market frameworks such as the EU Carbon Removal Certification Framework, ICAO CORSIA, Article 6.4 of the Paris Agreement, and relevant national policies, outlines core requirements for certification.
Projects seeking certification under the new standard must contribute towards at least three of the UN's Sustainable Development Goals (SDGs). They must also establish formal channels for inclusive stakeholder engagement and adhere to safeguarding principles that protect ecosystems and communities.
Reversal risk mitigation measures are a crucial aspect of the framework. Projects must implement strategies to reduce the risk that CO2 removed will be released back into the atmosphere. A mandatory buffer pool or credit reserve is required to cover any potential reversals or unexpected losses.
The framework emphasizes the importance of engineered removals working in tandem with rapid emissions reductions to help keep the 1.5°C target within reach. Gold Standard aims to develop additional engineered removal methodologies with partners and scale project development.
The new framework also includes high integrity and rigorous measurement standards to ensure accurate measurement and responsible use of removal credits. This is essential to ensure credibility and support net-zero claims.
The framework applies to technology-based solutions like direct air capture (DAC), bioenergy with carbon capture and storage (BECCS), concrete carbonation, and carbon mineralisation.
Gold Standard has already approved two 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).
Projects seeking certification under the new standard must follow safeguarding principles to ensure no risks to ecosystems or communities. Margaret Kim, Gold Standard's CEO, invites developers to use the new requirements and work with Gold Standard to build new methodologies and deliver durable projects that benefit local communities.
[1] Gold Standard's Engineered Removals Activity Requirements [2] Gold Standard's Just and Sustainable Transitions Framework [3] Gold Standard's Approved Engineered CDR Methodologies
- Gold Standard's Engineered Removals Activity Requirements emphasize the importance of sustainability standards, science, and data-and-cloud-computing, ensuring that projects adhere to high integrity and rigorous measurement standards to support net-zero claims and reduce the risk of carbon dioxide being released back into the atmosphere.
- Gold Standard's Just and Sustainable Transitions Framework aligns with policies like the EU Carbon Removal Certification Framework, ICAO CORSIA, Article 6.4 of the Paris Agreement, and relevant national policies, stressing the need for projects to contribute towards the UN's Sustainable Development Goals, engage in inclusive stakeholder engagement, and protect ecosystems and communities, all while promoting technological solutions like carbon removal.
- Gold Standard's Approved Engineered CDR Methodologies, such as Carbon Mineralization using Reactive Mineral Waste and Biomass Fermentation with Carbon Capture and Geologic Storage, demonstrate the organization's commitment to environmental-science and innovation, setting a standard for technology-based solutions like direct air capture, bioenergy with carbon capture and storage, concrete carbonation, and carbon mineralization.
