These requirements and procedures would allow certification and crediting of mitigation outcomes achieved as a direct result of the introduction of new policies or regulations, with the aim to facilitate transformation at the national or sub-national level and create an innovative route for governments to deliver impact through policy implementation. The Policy Requirements and Procedures, together with the Tool - Determining Additionality of a Policy, cover considerations specific to policies with regards to additionality, baseline setting, NDCs and more, which will apply alongside the core Gold Standard requirements.
The credits generated from these impacts, in many cases, are expected to be authorized as Internationally Transferred Mitigation Outcomes (ITMOs) under Article 6 of the Paris Agreement. At this stage, the requirements are only applicable for policies and regulations which allow for the identification of specific associated impacts.
The materials provided for consultation are developed as part of the initiative 'Development of Paris Agreement Compliant Carbon Standard for Policy Approaches', backed by the Global Green Growth Institute (GGGI).