While this remains an ongoing topic of discussion, Gold Standard is proposing optionality on corresponding adjustments. This means, corresponding adjustments are NOT required for voluntary projects. Rather, project developers have the option to seek corresponding adjustments if they want to ensure their credits are eligible in the future for “offsetting” or “compensation” claims by end buyers and for accessing certain markets that specifically do require them, for example CORSIA. Further, corresponding adjustments are envisioned to be introduced in a stepwise fashion, starting with 2021 vintages – earlier in higher income countries, last in LDCs/LLDCs/SIDS.
To ensure that we implement a thoughtful, supportive transition to any new rules, with special attention to when and how corresponding adjustments are implemented to a) safeguard vulnerable projects and b) encourage more, not less, private sector participation, we will be developing a Voluntary Carbon Market Transition Framework.
This framework will provide the roadmap to transition voluntary carbon standards to be (a) aligned with Article 6 of the Paris Agreement to remain ambitious and credible, (b) accessible and equitable for host countries and engaged parties, and (c) operational and scalable to contribute significantly to Paris climate goals.
A stakeholder consultation on corresponding adjustments for voluntary use, the transition process, and alternative claims for credits without corresponding adjustments will be hosted in Q1 2021. See full timeline below: