In the wake of recent criticism of carbon credits, a report from independent analysts confirmed the reliability of Gold Standard carbon credits.
Just recently, we reported on a new study, according to which millions of carbon credits were released by forest offsetting projects based on grossly overinflated environmental impact estimates.
As a result, carbon offset critics have sounded the alarm that vast amounts of these carbon credits would become ‘stranded assets’ and lose speculators billions of dollars.
However, a new analysis of the Gold Standard, which is a voluntary carbon offset program focused on progressing the United Nations’ Sustainable Development Goals (SDGs), for the Global Goals Certification Program showed promising results.
Namely, the report confirms the program’s rigorous certification standards and science-based monitoring, verification and reporting (MRV), all of which suggests strong project design.
“By adhering to the Gold Standard requirements, carbon offset projects can deliver real, measurable, and long-lasting emissions reductions, which is crucial for addressing climate change,” the report says.
Relevant: ICVCM Publishes Criteria For Core Carbon Principle Standards
One concern in particular that comes up with regards to carbon offsets and carbon credits is the ratio of retirements of vintage carbon credits to issuance of new credits.
In the above graph provided by the Gold Standard, this ratio is clearly visible, as are the consistent retirements of Gold Standard credits, demonstrating very low chances of becoming ‘stranded assets’.
Each of the carbon credits issued by the Gold Standard represents the removal of at least 1 metric ton of carbon dioxide equivalent (CO2e), and the new report confirms the strict and transparent approach the program upholds.
Read more: Gold Standard Pauses Issuance Of Carbon Credits From Zimbabwe
