In 2018, Gold Standard began reassessing the role of carbon finance in supporting the transition to renewable energy to reflect market evolution and to ensure that funding goes to interventions most in need post-2020 when the Paris Agreement comes into force. 

The Paris Agreement poses a new framework for carbon markets. While the Kyoto Protocol was limited in both coverage and ambition, the Paris Agreement applies to all countries and its ambition introduces global net zero emissions targets.

Gold Standard expands the scope of its 'Renewable Energy Activity Requirements' to include Municipal Solid Waste (MSW) incineration project activities. Gold Standard developed a set of additional requirements for MSW incineration project activities seeking certification under Gold Standard for the Global Goals. The additional requirements include specific criteria, ranging from stakeholder consultation, project eligibility, environmental emissions and operational requirements to the continuous reporting on the status of regulatory compliance.

To manage their carbon footprint, many companies have been focusing on reducing emissions within their direct ownership or operational control (scope 1) and from their purchased electricity, heat and steam (scope 2). However, there is a growing need to reduce value chain emissions (scope 3) to keep global temperatures within safe levels. Despite the increased complexity associated with scope 3 emissions, hundreds of companies are already setting scope 3 reduction targets, and dozens are in line with best practices according to the Science Based Targets initiative.