‘Emissions Reductions’ represent the reduction or sequestration of one metric tonne of carbon dioxide equivalent (tCO2e). This ‘basket’ of gases within the ‘carbon dioxide equivalent’ includes carbon dioxide (CO2), methane (CH4) and/or nitrous oxide (N2O).
Under Gold Standard for the Global Goals, a limited number of validated certificates/Planned Emission Reductions (PERs) may also be issued for certain project types. A Planned Emission Reduction represents the expected (i.e future) sequestration of one tonne of CO2e.
The characteristics of Planned Emission Reductions are:
- Planned Emissions Reductions shall be issued only from project areas that have scientifically-robust carbon modelling as required by the relevant GS-Approved Methodology.
• Planned Emissions Reductions shall be issued only from project areas where the auditor confirms, by certification, that trees have been planted or activity has taken place.
• Planned Emissions Reductions shall be issued only after a successful Design Certification or subsequent Performance Certification.
• 80% of the Planned Emissions Reductions shall be issued into the projects registry account according to their expected vintage years (years of delivery). The remaining 20% shall be issued into The Gold Standard Compliance Buffer.
• All transfers and assignments of Planned Emissions Reductions shall be recorded in The Gold Standard Registry.
- After Performance Certification, where the effective emission reductions are verified, the Planned Emissions Reductions are converted into Verified Emissions Reductions (PERs converted to VERs), which are issued into The Gold Standard Registry.
Afforestation/Reforestation (A/R) projects may issue PERs for a maximum of five years ahead of successful Initial Certification or subsequent Performance Certification. Agriculture projects may issue PERs up to three years in the future.