Event Reports

Highlights from Presentations and Plenary Discussions

Below is a summary of some salient contributions by speakers and participants at the Gold Standard Academy. Statements do not necessarily reflect the views of the Gold Standard Foundation.

GOLD STANDARD MARKET TRENDS AND PROSPECTS

• The size of the Gold Standard project portfolio has grown from just 6 projects a few years ago to almost 200 projects now on stream or well along in the pipeline. CDM currently has 67 Gold Standard projects in the pipeline, with a regional and technology distribution that  is consistent with the overall pattern for the CDM.
• It is not possible to give very precise supply forecasts for either CDM credits or Gold Standard CERs and VERs. Pipeline information is available on CDM and Gold Standard Registries, but difficulties at the validation and approval stages or lower-than-expected issuance rates will result in availabilities that are less than the simple pipeline projections would suggest.
• Carbon Markets and Investors Association (CMIA) is working with standards bodies to legislate principles for the voluntary market that are very similar to the Gold Standard deliverables - real and measurable emissions reductions, permanent and unique sustainable development benefits, robust and transparent project Registry.
• Buyers right now are looking mainly for issued credits at low prices, not future credits at premium prices. However, within the price ceilings that buyers have set for themselves, premium credits such as those of the Gold Standard are still in demand. Some buyers may also see high quality credits as safer for the long term, as they are likely to meet any new standards that may be set for post 2012 carbon markets.
• To remain competitive, Gold Standard needs to generate a greater volume of carbon credits, include forestry and introduce greater flexibility for small projects. The Foundation has introduced the Local Experts Network Program to stimulate supply, and is looking at possible rule changes that would give project developers more options.

 BUYER INTENTIONS AND PRACTICES

• Liechenstein will cover 2.3 of its Kyoto emissions reduction target with offset purchases from abroad, purchasing only from high eco-benefit, visible, small-scale projects registered with the Gold Standard.
• The Netherlands makes all of its purchase through intermediaries such as the World Bank and Regional Banks, as these institutions only offer carbon credits that meet their own sustainable development and environmental integrity criteria.
• The criteria for stakeholder consultations and sustainable development impact established by the one-year-old Thailand Greenhouse Office are very similar to those of the Gold Standard, so biogas and biomass projects that it promotes should easily qualify for GS certification.
• Australia is introducing an Emissions Trading Scheme for domestic renewable energy and compiance-offset projects that will have a very broad coverage. Therefore it expects that demand for voluntary offsets will have to be supplied from abroad. Carbon Watch Australia has recently highlighted Gold Standard co-benefits of sustainable development plus quality.
• Airlines and automakers that wish to promote client purchase of emissions offsets have more success if they bundle the cost of the offset into the product price or offer clients opt-out rather than opt-in programs.

BREAKTHROUGH AT POZNAN

• At Poznan guidance given for the CDM for the first time laid great stress on environmental integrity and contribution to sustainable development.

PARTICIPANT RECOMMENDATIONS FOR DEVELOPING GOLD STANDARD PROJECTS

• Increase limit for mini-hydro to 20 MW
• Develop an accreditation program and methodology for assessing and certifying environmental integrity of large hydro projects
• Develop a presence in the US market in order to introduce premium quality concepts there, especially for energy efficiency projects and programmes of activity
• Encourage project developers to treat and cost stakeholder consultations as a market research activity
• Allow ample flexbility to adapt stakeholder-consultation methods to local conditions
• Develop pre-approved project models for small-scale projects that do not require too much detailed information gathering or monitoring

PARTICIPANT RECOMMENDATIONS FOR MARKETING GOLD STANDARD CREDITS

• Serious marketing requires building up a sizeable and diverse portfolio
• Local offices are important for a successful marketing strategy
• Pitch Gold Standard CDM credits toward buyers who want to hedge against post-2012 uncertainties
• Pitch Gold Standard credits for voluntary market toward buyers who want to invest in 'sexy' countries and technologies and who want visibility for their investments