Project eligibility
Projects must achieve Gold Standard for the Global Goals Project Certification for Renewable Energy Activities, AND
Projects must be Registered and able to issue I-RECs.
Product choice
Projects that follow the Emissions Reduction methodology and VER Product Requirements will be able to choose between the issuance of I-RECs labels and GS-VERs at Issuance.
Existing projects that transition to Gold Standard for the Global Goals can also choose to cancel their issued VERs for an eligible time period and issue Renewable Energy Labels instead.
Note that Gold Standard and I-RECs will jointly monitor the MWh tracking to ensure no over-issuance takes place.
Score and applicability
Projects will be able to be issue Gold Standard Renewable Energy Labels for a 12 month period after a successful Gold Standard Performance Certification, reflecting the certainty of MWh tracking and the ‘on-demand’ nature of the RECs markets.
At launch of Gold Standard for the Global Goals, projects cannot co-issue Gold Standard CER Labels and Renewable Energy Labels from the same project, but we will explore this in the future, within the constraints of tracking and third party terms and conditions.
Initially the Gold Standard Renewable Energy Label is limited to I-RECs but we will explore other labelling opportunities where demand exists.
Additionality
In line with RECs market practice, projects issuing I-RECs Labels are not required to demonstrate Additionality. However, if a project wishes to also be able to issue Gold Standard VERs, it would need to demonstrate Additionality.
The objective is to gain technical feedback on the Product Specifications for the Gold Standard Renewable Energy Label that will be eligible as a monetisable product issued under Gold Standard for the Global Goals. Please send your feedback to Owen Hewlett. The deadline for the consultation is 21 July 2017. We will also hold a public webinar and Q&A session on 13 July 2017.