Gold Standard is developing and intends to establish a process to recognise insurance policies from third-party private insurance companies as Approved Insurance Policies to support guarantees for the avoidance of double-claiming under CORSIA. At this time, Gold Standard recognises the following as an Approved Insurance Policy:
Multilateral Investment Guarantee Agency (MIGA): A guarantee provided by the Multilateral Investment Guarantee Agency (MIGA) to the project developer or an affiliate, which provides Breach of Contract coverage in the event that a host country that has provided a Letter of Authorisation does not apply a corresponding adjustment for relevant GS-VERs, in breach of its commitment to do so. The Breach of Contract coverage must apply to legally-binding commitments of the host country that relate to all GS-VERs intended to be labelled as eligible for the First Phase of CORSIA.
Was this article helpful?
That’s Great!
Thank you for your feedback
Sorry! We couldn't be helpful
Thank you for your feedback
Feedback sent
We appreciate your effort and will try to fix the article