What is the process to convert Gold Standard Certified Emission Reductions (GS-CERs) to Verified Emission Reductions (VERs)?
The process for conversion is as follows:
- Clean Development Mechanism (CDM) projects shall be registered as Gold Standard CDM projects by fulfilling the Gold Standard for the Global Goals requirements.
- A Gold Standard CDM project shall have CERs issued by the CDM Executive Board and labelled by Gold Standard.
- The project shall transfer the newly issued CERs to the Gold Standard Swiss CDM Registry Account.
- The Gold Standard will retire the transferred CERs and the associated labels.
- On payment of the relevant fee and retirement of the CERs, Gold Standard will issue an equivalent number of GS-VERs to the project in the Gold Standard Impact Registry.