New Article 6 authorisation requirements

 REQUIREMENTS 

A step closer to supporting the creation and transfer of Internationally Transferred Mitigation Outcomes (ITMOs) under Article 6. 

The GHG Emissions Reduction and Sequestration Product Requirementswhich provides the specific rules for projects seeking issuance of products (i.e., GS VERs, GS CERs and PERs) has been updated to:

• Incorporate latest understanding and developments within the global climate policy regime, following the adoption of Article 6 guidance
• Introduce further clarity on key aspects related to GHG specific product requirements
• Promote consistency between various standard documents

These updates have been made based on outputs from COP26, feedback from multiple consultations, and participation within working groups including the Voluntary Carbon Market Integrity Initiative and our own Working Group on Article 6 set up to ensure environmental integrity and that carbon finance continues to flow where it has the greatest impact.

Key changes include:

1. Revised double counting requirements to incorporate new procedures to manage VERs authorised for use under Article 6 of the Paris Agreement
2. Buffer requirements for non-carbon sequestration projects and clarification on issuance of PERs
3. Clarification on justification requirements for retroactive projects
4. Minimium site visit requirements for VVBs 
5. Working definition for carbon removal project types 

If you have any feedback or would like to speak with Gold Standard directly about Article 6 activities, please email Kavya Bajaj.

Further readings