What is the duration of the crediting period for projects wishing to transition to Gold Standard for the Global Goals (GS4GG)?
The crediting period will vary.
For projects seeking to transition to GS4GG, the total duration of the crediting period, including the period that has been claimed under the original carbon credit scheme, shall not exceed the maximum crediting period allowed under relevant GS4GG activity requirements.
For example, if a given project transitioning to GS4GG was registered under Standard X with:
- Fixed crediting period (10 years): The total crediting period (Standard X + GS4GG) must remain 10 years. The project can only claim remaining years of its 10-year crediting period after transitioning to GS4GG.
- Renewable crediting period (7 * 3 years): The total crediting period (Standard X + GS4GG) must be equal to that allowed under relevant GS4GG activity requirements. The project can only claim the remaining years of the maximum allowed crediting period after transitioning to GS4GG. For example, the maximum crediting period allowed for renewable energy project is 15 years. A renewable energy project that has already claimed 5 years under Standard X can only claim the remaining 10 years of the total 15 years of its allowed crediting period after transitioning to GS4GG.